The 2020 Mid-Year Economic Update_long

Fortive Sales Up 7.6% in 1Q

Profit was $41.9 million, down from $164 million in the first quarter of 2019.
person working with robotic arms and tablet

Fortive Corp. (NYSE: FTV), Everett, Washington, reported sales for the first quarter ended March 27 of $1.7 billion, a 7.6% increase over the same period a year ago. Profit was $41.9 million, down from $164 million in the first quarter of 2019.

James A. Lico, president and CEO, stated, “In the first quarter, strong core operating margin expansion enabled us to deliver adjusted earnings per share at the high-end of our guidance and solid free cash flow, all despite a more challenging macroeconomic backdrop. These results are a testament to the tireless efforts of our teams, as we adapted the Fortive Business System to assure employee safety and maintain business continuity despite ‘work from home’ restrictions across the globe. I am extremely proud of the agility that I have seen throughout the organization, as our Operating Companies continued to drive innovation to help to support their customers and communities in the fight against the COVID-19 pandemic.”

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.