Fortive (FTV) Tops Q1 EPS by 2c; Raises FY Outlook
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Fortive Reports Strong First Quarter 2022 Results; Raises Full Year 2022 Outlook
April 28, 2022 7:30 AM EDTQ1 revenue growth of 9%, 5% core, reflecting continued strong customer demand Performance exceeded expectations despite continued COVID and supply chain challenges Demand for software-enabled workflow solutions yielded mid-teens software growth 61% GAAP diluted earnings per share, 11% adjusted diluted earnings per share, 41% cash flow from operations and 36% free cash flow growth 2021 acquisitions accretive to first quarter and full year 2022 growth and earnings Raises low end of 2022 outlook: GAAP EPS of $2.07-$2.16, Up 25%-31%, and Adjusted EPS of $3.04-$3.13, Up 11-14%
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