Fortive (FTV) Reports In-Line Q1 EPS, Revenues In-Line; Offers FY EPS Mid Guidance Above Consensus

Fortive (NYSE: FTV) reported Q1 EPS of $0.57, in-line with the analyst estimate of $0.57. Revenue for the quarter came in at $1.53 billion versus the consensus estimate of $1.53 billion.

GUIDANCE:

Fortive sees FY2017 EPS of $2.68-$2.78, versus the consensus of $2.69.

James A. Lico, President and Chief Executive Officer, stated, “We had a strong start to 2017 by delivering double-digit earnings growth above the high end of our guidance and mid-single digit revenue growth amidst stabilized markets. All six of our strategic platforms grew core sales reflecting key market share gains and industry leading technology and service. Through the successful deployment of the Fortive Business System, we were able to once again deliver above-market revenuegrowth, margin expansion and top-quartile earnings performance.”

For the second quarter of 2017, Fortive anticipates diluted net earnings per share to be in the range of $0.62 to $0.66 and the non-GAAP adjusted diluted net earnings per share to be in the range of $0.65 to $0.69. Fortive expects 2017 diluted net earnings per share to be in the range of $2.57 to $2.67 and non-GAAP adjusted diluted net earnings per share to be in the range of $2.68 to $2.78.

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

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