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Sep 29, 2023
Fortive Q3 2023 Earnings Report
Fortive's Q3 2023 earnings reflected portfolio durability, with core growth in all segments and substantial margin, earnings, and free cash flow improvements.
Key Takeaways
Fortive reported strong third-quarter results with revenue growth of 2.6% and core revenue growth of 2.5%. The company saw improvements in operating margin and adjusted operating margin. GAAP diluted EPS increased by 15%, and adjusted diluted EPS increased by 8%. Fortive reaffirmed its full-year outlook.
Q3 revenue growth of 2.6%, 2.5% core, reflecting growth in all segments
Software businesses demonstrating resilience with annual recurring revenue growth of 9%
Operating margin up 220 basis points to 20%; adjusted operating margin up 150 basis points to 26% driven by strong gross margin expansion and productivity initiatives
Q3 GAAP Diluted EPS of $0.61, up 15%; Adjusted Diluted EPS of $0.85, up 8%
Revenue by Segment
Forward Guidance
For the fourth quarter of 2023, Fortive anticipates revenue of approximately $1.6 billion, diluted net earnings per share of $0.61 to $0.64 and adjusted diluted net earnings per share of $0.92 to $0.95. For the full year 2023, Fortive anticipates revenue of approximately $6.0 billion to $6.1 billion, diluted net earnings per share of $2.30 to $2.33, and adjusted diluted net earnings per share of $3.37 to $3.40.
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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