Fortive Corporation (FTV) Reports Q2 EPS of $0.69

Fortive Corporation (NYSE: FTV) reported Q2 EPS of $0.69, versus $0.66 reported last year. Revenue for the quarter came in at $1.56 million, versus $1.56 million reported last year.

James A. Lico, President and Chief Executive Officer, stated, "Our team executed well and delivered outstanding free cash flow performance and margin expansion despite a slight revenue decline amidst challenging and uncertain macro conditions. We are encouraged by continued strength in our Industrial Technologies segment as well as signs of stabilization in our Professional Instrumentation segment."

Lico added, "With the separation complete, we are excited to bring to market a rich legacy as the Fortive Business System continues to be the cornerstone of our competitive advantage and our playbook for accelerated innovation, improved revenue growth, and operating margin expansion. Fortive has the capital allocation capacity for financially disciplined acquisitions and growth investments to further strengthen our businesses and leading market positions. We are committed to continuous improvement and driving shareholder value for the long-term."

The Company expects its 2016 second half GAAP diluted net earnings per share to be in the range of $1.11 to $1.19 and non-GAAP adjusted diluted net earnings per share to be in the range of $1.21 to $1.29.

For earnings history and earnings-related data on Fortive Corporation (FTV) click here.

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