NYSE$FTV
Fortive Corporation · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Fortive's Q3 2023 earnings reflected portfolio durability, with core growth in all segments and substantial margin, earnings, and free cash flow improvements.
Fortive reported strong third-quarter results with revenue growth of 2.6% and core revenue growth of 2.5%. The company saw improvements in operating margin and adjusted operating margin. GAAP diluted EPS increased by 15%, and adjusted diluted EPS increased by 8%. Fortive reaffirmed its full-year outlook.
- Q3 revenue growth of 2.6%, 2.5% core, reflecting growth in all segments
- Software businesses demonstrating resilience with annual recurring revenue growth of 9%
- Operating margin up 220 basis points to 20%; adjusted operating margin up 150 basis points to 26% driven by strong gross margin expansion and productivity initiatives
- Q3 GAAP Diluted EPS of $0.61, up 15%; Adjusted Diluted EPS of $0.85, up 8%
Headline financials
Revenue & EPS history
Fortive · Revenue · Quarterly
$1.49B
Revenue by segment
Fortive · $964M total across 2 segments · Q3 2023
- Intelligent Ops$644M+5.0%66.8%
- Healthcare Solutions$320M+0.3%33.2%
Forward guidance
For the fourth quarter of 2023, Fortive anticipates revenue of approximately $1.6 billion, diluted net earnings per share of $0.61 to $0.64 and adjusted diluted net earnings per share of $0.92 to $0.95. For the full year 2023, Fortive anticipates revenue of approximately $6.0 billion to $6.1 billion, diluted net earnings per share of $2.30 to $2.33, and adjusted diluted net earnings per share of $3.37 to $3.40.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
-0.0%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+2.0%
Avg return
30 days after
53%
23 / 43 earnings
Positive
+10.1%
Q4 2023
Best reaction
-10.1%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.1% | -1.7% | -5.7% | |
| Q4 2025 | +9.3% | +11.7% | +5.6% | |
| Q3 2025 | +2.4% | +1.9% | +8.8% | |
| Q1 2025 | -4.2% | -3.5% | +0.7% | |
| Q4 2024 | -0.9% | +0.4% | -4.1% | |
| Q3 2024 | -4.2% | -4.6% | +6.3% | |
| Q2 2024 | -8.7% | -7.0% | -4.3% | |
| Q1 2024 | -5.6% | -4.6% | -6.0% | |
| Q4 2023 | +10.1% | +10.1% | +14.6% | |
| Q3 2023 | -7.3% | -7.4% | -3.8% | |
| Q2 2023 | +3.0% | +5.6% | +3.9% | |
| Q1 2023 | -2.6% | -2.2% | +3.8% | |
| Q4 2022 | -0.3% | +1.3% | +0.2% | |
| Q3 2022 | -2.1% | -0.0% | +6.5% | |
| Q2 2022 | +8.3% | +7.8% | +8.8% | |
| Q1 2022 | -0.4% | +3.2% | +7.4% | |
| Q4 2021 | -10.1% | -8.4% | -15.4% | |
| Q3 2021 | +2.2% | +3.9% | +2.2% | |
| Q2 2021 | +5.5% | +8.3% | +7.6% | |
| Q1 2021 | -4.6% | -3.2% | -2.3% | |
| Q4 2020 | +4.0% | +3.0% | +1.3% | |
| Q3 2020 | -4.2% | -4.5% | +11.4% | |
| Q2 2020 | +2.4% | -2.4% | -1.5% | |
| Q1 2020 | -7.3% | -11.0% | -7.0% | |
| Q4 2019 | +1.9% | +2.4% | -13.9% | |
| Q3 2019 | -5.5% | -5.3% | -2.3% | |
| Q2 2019 | -4.6% | -6.6% | -16.9% | |
| Q1 2019 | -4.3% | -3.1% | -12.4% | |
| Q4 2018 | +2.5% | +5.2% | +7.3% | |
| Q3 2018 | -1.4% | -3.2% | -1.7% | |
| Q2 2018 | +1.0% | +3.9% | +1.4% | |
| Q1 2018 | -1.2% | -0.2% | +4.6% | |
| Q4 2017 | +1.1% | +3.4% | +12.0% | |
| Q3 2017 | +2.3% | -0.3% | -0.5% | |
| Q2 2017 | +3.7% | +4.9% | +4.0% | |
| Q1 2016 | +1.6% | -0.1% | +2.0% | |
| Q1 2017 | +1.6% | -0.1% | +2.0% | |
| Q4 2014 | +2.2% | +1.9% | +3.4% | |
| Q4 2016 | +0.7% | +2.4% | +4.0% | |
| Q3 2015 | +5.1% | +5.7% | +17.2% | |
| Q3 2016 | +5.1% | +5.7% | +17.2% | |
| Q2 2016 | +3.1% | +5.8% | +10.1% | |
| Q4 2015 | +3.1% | +5.8% | +10.1% | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — |
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