Fortive Q4 2023 Earnings Report
Key Takeaways
Fortive reported a 4% increase in revenue to $1.58 billion with core revenue growth of 3%. GAAP diluted EPS was $0.75, up 17%, and adjusted diluted EPS was $0.98, up 11%.
Strong execution and operational performance driven by the power of the Fortive Business System (FBS), delivering 2023 results above prior expectations
Q4 total and core revenue growth of 4% and 3% respectively, with record margin performance
Q4 GAAP diluted EPS of $0.75, up 17%; adjusted diluted EPS of $0.98, up 11%; reported operating cash flow of $447 million and free cash flow of $413 million, up 56% over the last two years
Expect full-year 2024 revenue of $6.4 to $6.5 billion, up 6% to 8% percent; GAAP diluted EPS of $2.58 to $2.70, up 6% to 11%; full-year 2024 adjusted diluted EPS of $3.73 to $3.85, up 9% to 12%
Fortive
Fortive
Forward Guidance
For the first quarter of 2024, Fortive anticipates revenue of approximately $1.5 billion, diluted net earnings per share of $0.44 to $0.47 and adjusted diluted net earnings per share of $0.77 to $0.80. For the full year 2024, Fortive anticipates revenue of approximately $6.4 billion to $6.5 billion, diluted net earnings per share of $2.58 to $2.70, and adjusted diluted net earnings per share of $3.73 to $3.85.