Welcome to our dedicated page for Fortive Corporation news (Ticker: FTV), a resource for investors and traders seeking the latest updates and insights on Fortive Corporation stock.
Fortive Corporation (FTV) is a global conglomerate comprising over 20 industry-leading companies, unified by a common mission: to make the world stronger, safer, and more effective by delivering essential technology to those driving progress. Established in 2016 following its spin-off from Danaher, Fortive has built a strong heritage and a proven track record of growth.
The company operates across various fast-evolving sectors such as software development, robotics, transportation, energy, and healthcare. Its portfolio includes mission-critical products and services in areas like field solutions, product realization, health, and sensing technologies. Serving a diverse range of markets including manufacturing, utilities, medical, and electronics, Fortive generated approximately $6.1 billion in revenue in 2023.
Fortive's commitment to innovation and growth is evident in its vibrant culture that emphasizes continuous learning, empowerment, and opportunity. This dynamic environment balances the excitement of a startup with the stability of an established organization, providing extraordinary opportunities for both the company and its employees. Fortive's financial strength and foundation of success ensure its ability to tackle significant challenges with real-world impact.
Fortive (NYSE: FTV) reported strong Q2 2024 results, with revenue increasing 2% year-over-year to $1.55 billion. The company delivered resilient earnings growth and operating cash flow despite a delayed recovery in certain markets. Key highlights include:
- GAAP diluted EPS of $0.55
- Adjusted diluted EPS of $0.93, at the high-end of guidance
- Operating profit margin of 19%
- Adjusted operating profit margin of 27%, up 90 bps year-over-year
- Operating cash flow of $309 million
- Free cash flow of $280 million, ahead of guidance
Fortive narrowed its full-year 2024 outlook, projecting revenue of $6.25-$6.30 billion and adjusted diluted EPS of $3.80-$3.86, representing an 11-13% year-over-year increase.
Fortive has scheduled its second quarter 2024 earnings conference call for July 24, 2024, at 12:00 p.m. ET. The call will be webcast on Fortive’s website under the 'Investors' section. A slide presentation will accompany the call, and a replay will be available shortly after the call concludes. Access to the conference call is available by dialing specific numbers for U.S. and international participants. Recording of the call will be accessible until August 7, 2024. Fortive is currently in its 'quiet period' until the earnings release on July 24, 2024, which means no interaction with the investment community during this time.
A recent survey by Fluke Reliability reveals that manufacturers are leading in AI adoption, with 61% expecting to meet their AI goals within 11 months. Conducted by Censuswide, the survey involved over 600 senior decision-makers and maintenance professionals from the US, UK, and Germany.
AI is a high business priority for 93% of respondents, with significant investment planned for AI technologies in 2024. Predictive maintenance is a key focus, with 77% aiming to shift from reactive to proactive strategies.
Investments are driven by the benefits of AI, such as improved efficiency, new product development, and addressing labor shortages. Despite only 9% having completed their Industry 5.0 goals, manufacturers show strong confidence in AI's transformative potential.
Fortive announced that Olumide Soroye, President and CEO of Intelligent Operating Solutions, will present at the Wolfe Research Global Transportation and Industrials Conference on May 22nd, 2024. The event will be webcasted and archived on the company's website.
Fortive (NYSE: FTV) has released its 2023 Annual Sustainability Report, showcasing significant reductions in greenhouse gas emissions, sustainable products and services, responsible sourcing, and third-party validation.
Fortive announced that its executives will be presenting at the Bank of America Transportation, Airlines, and Industrials Conference. The presentation will be webcasted and archived on the company's website.
Fortive (NYSE: FTV) has announced that Tami Newcombe, President and CEO of Precision Technologies (PT) and Advanced Healthcare Solutions (AHS), will present at the Bank of America Transportation, Airlines, and Industrials Conference on May 15, 2024, at 9:30 a.m. ET.
The presentation will be webcast live and archived on Fortive's website. This event highlights Fortive's ongoing engagement with investors and industry stakeholders.
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