Fortive Corp. Reports Q4 Earnings, Exceeds Analyst Estimates
EVERETT, Wash. - Fortive Corp. (FTV) announced its fourth-quarter financial results on Friday, showing a profit of $208.8 million or 60 cents per share. Adjusted for non-recurring costs, earnings reached $1.17 per share, surpassing Wall Street expectations, as seven analysts surveyed by Zacks Investment Research had projected $1.12 per share.
Despite exceeding earnings estimates, Fortive's revenue of $1.62 billion fell short of Street forecasts, which stood at $1.63 billion based on five analysts' estimates.
For the full year, Fortive reported a profit of $832.9 million or $2.36 per share on revenue of $6.23 billion.
Looking ahead to the current quarter, Fortive projects per-share earnings in the range of 83 cents to 86 cents and revenue between $1.48 billion and $1.51 billion.
For the entire fiscal year, Fortive anticipates earnings of $4.00 to $4.12 per share and revenue ranging from $6.23 billion to $6.35 billion.