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Jun 28, 2024
Fortive Q2 2024 Earnings Report
Fortive reported resilient earnings growth and operating cash flow despite a delayed recovery.
Key Takeaways
Fortive's Q2 2024 results showed a 2% year-over-year revenue increase to $1.55 billion. The company reported GAAP diluted EPS of $0.55 and adjusted diluted EPS of $0.93, which was at the high end of their guidance, alongside operating cash flow of $309 million and free cash flow of $280 million.
Revenue increased by 2% year-over-year to $1.55 billion.
Operating profit margin was 19%, with adjusted operating profit margin of 27%, up 90 bps year-over-year.
GAAP diluted EPS was $0.55, and adjusted diluted EPS was $0.93, hitting the high end of guidance.
Operating cash flow was reported at $309 million, and free cash flow was $280 million, exceeding guidance.
Revenue by Segment
Forward Guidance
Fortive anticipates revenue of approximately $1.55 billion, diluted net earnings per share of $0.63 to $0.66 and adjusted diluted net earnings per share of $0.92 to $0.95 for the third quarter of 2024. For the full year 2024, Fortive anticipates revenue of approximately $6.25 billion to $6.30 billion, diluted net earnings per share of $2.68 to $2.74, and adjusted diluted net earnings per share of $3.80 to $3.86.
Positive Outlook
- Revenue of approximately $1.55 billion is expected for Q3 2024.
- Diluted net earnings per share are projected to be $0.63 to $0.66 for Q3 2024.
- Adjusted diluted net earnings per share are anticipated to be $0.92 to $0.95 for Q3 2024.
- Full-year 2024 revenue is expected to be approximately $6.25 billion to $6.30 billion.
- Full-year 2024 adjusted diluted net earnings per share are projected to be $3.80 to $3.86.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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