Fortive Raises Earnings View on Higher 3Q Sales, Profit

Dow Jones

Oct 28

Fortive raised its full-year earnings outlook after logging higher profit and sales in the third quarter.

The industrial technology company said it now expects annual adjusted earnings per share to be $3.10 to $3.14, up from its previous guidance of $2.95 to $3.05.

Fortive posted a third-quarter profit of $173 million, or 57 cents a share, compared with $117 million, or 35 cents a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were 77 cents, ahead of the 70 cents anticipated by analysts, according to FactSet.

Revenue rose about 8% to $1.11 billion. Analysts surveyed by FactSet forecast revenue of $1.07 billion.

Sales from Fortive's intelligent operating solutions segment rose 9.8%, while its advanced healthcare solutions revenue rose 3.7%.

Shares were up 3.9% to $64 in premarket trading.

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Analysts surveyed by FactSet forecast revenue of $1.07 billion. \n\n\n  Sales from Fortive's intelligent operating solutions segment rose 9.8%, while its advanced healthcare solutions revenue rose 3.7%. \n\n\n  Shares were up 3.9% to $64 in premarket trading.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}