Fortive Q3: Revenue Miss, EPS Beat, Revises FY24 Guidance Amid Strategic Split Plans
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
Fortive Corporation Q3 Results: Fortive's revenue grew 3% year-over-year to $1.54 billion, slightly missing expectations, while adjusted EPS of $0.97 exceeded the consensus of $0.93. The company reported strong cash flows and positive growth momentum across its segments.
Outlook and Stock Performance: Fortive lowered its FY24 revenue forecast but revised its adjusted EPS outlook upward. Following the earnings report, FTV shares fell by 2.41% to $72.80.
Analyst Views on FTV
Wall Street analysts forecast FTV stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FTV is 56.73 USD with a low forecast of 51.00 USD and a high forecast of 66.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
2 Buy
8 Hold
1 Sell
Hold
Current: 54.720
Low
51.00
Averages
56.73
High
66.00
Current: 54.720
Low
51.00
Averages
56.73
High
66.00
About FTV
Fortive Corporation is a technology solutions company. The Company's businesses design, develop, manufacture, and market products, software, and services, building on brand names, technologies, and market positions. The Company's segments include Intelligent Operating Solutions (IOS) and Advanced Healthcare Solutions (AHS). The Company's IOS segment provides advanced instrumentation, software and services to various customers enabling their mission-critical workflows. These offerings include electrical test and measurement, facility and asset lifecycle software applications, connected worker safety and compliance solutions across a range of vertical end markets. Its AHS segment supplies critical workflow solutions enabling healthcare providers to deliver patient care more efficiently. Its offerings include instrument sterilization solutions, instrument tracking, biomedical test tools, radiation detection and safety monitoring and end-to-end clinical productivity software and solutions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
