Fortive Q4 2022 Earnings Report
Key Takeaways
Fortive Corporation reported strong Q4 2022 results, with total and core revenue growth of 11% and 14%, respectively. GAAP EPS was $0.64, and adjusted EPS was $0.88, up 11%. The company anticipates revenue of $1.40 billion to $1.44 billion, diluted net earnings per share from continuing operations of $0.47 to $0.50 and adjusted diluted net earnings per share from continuing operations of $0.71 to $0.74 for the first quarter of 2023.
Delivered significant revenue growth, margin expansion, earnings and cash flow growth in 2022, all above the respective guidance set coming into the year
Q4 total and core revenue growth of 11% and 14% respectively, all segments positively contributing
Q4 GAAP EPS of $0.64; Adjusted EPS of $0.88, up 11%
Operating cash flow of $464 million, up 62% and free cash flow of $428 million, up 62%, demonstrating robust compounding model
Fortive
Fortive
Forward Guidance
For the first quarter of 2023, Fortive anticipates revenue of $1.40 billion to $1.44 billion, diluted net earnings per share from continuing operations of $0.47 to $0.50 and adjusted diluted net earnings per share from continuing operations of $0.71 to $0.74. For the full year 2023, Fortive anticipates revenue of $5.95 billion to $6.10 billion, diluted net earnings per share from continuing operations of $2.30 to $2.45, and adjusted diluted net earnings per share from continuing operations of $3.25 to $3.40.
Positive Outlook
- Expect that 2023 will be another year of growth and margin expansion in each of our strategic segments.
- The strength of our backlog position against normalizing demand gives us confidence in our ability to grow through a decline in hardware products orders in the first half
- Software businesses continue their strong pace of growth.
- FBS-driven execution and productivity initiatives.
- Excellent position to make a real difference for our customers, employees and shareholders despite the economic uncertainty in the year ahead.