Fortive Corporation · Q2 2024 earnings

Briefing

Fortive reported resilient earnings growth and operating cash flow despite a delayed recovery.

Fortive's Q2 2024 results showed a 2% year-over-year revenue increase to $1.55 billion. The company reported GAAP diluted EPS of $0.55 and adjusted diluted EPS of $0.93, which was at the high end of their guidance, alongside operating cash flow of $309 million and free cash flow of $280 million.

• Revenue increased by 2% year-over-year to $1.55 billion.
• Operating profit margin was 19%, with adjusted operating profit margin of 27%, up 90 bps year-over-year.
• GAAP diluted EPS was $0.55, and adjusted diluted EPS was $0.93, hitting the high end of guidance.
• Operating cash flow was reported at $309 million, and free cash flow was $280 million, exceeding guidance.

Headline financials

Revenue & EPS history

Fortive anticipates revenue of approximately $1.55 billion, diluted net earnings per share of $0.63 to $0.66 and adjusted diluted net earnings per share of $0.92 to $0.95 for the third quarter of 2024. For the full year 2024, Fortive anticipates revenue of approximately $6.25 billion to $6.30 billion, diluted net earnings per share of $2.68 to $2.74, and adjusted diluted net earnings per share of $3.80 to $3.86.