The 2020 Mid-Year Economic Update_long

Fortive’s Revenue Increases 26.7% in 2Q

Fortive posted a second-quarter profit of close to $181 million compared to $130 million in the same quarter a year ago.
4Q 2020 earnings recap

Fortive Corp. (NYSE: FTV), Everett, Washington, reported revenue for the second quarter rose 26.7% to $1.3 billion. Fortive posted net earnings of close to $181 million compared to $130 million in the same quarter a year ago.

“Our results in the second quarter continued to demonstrate the success of our strategy, as highlighted at our investor conference in May, to build connected workflow solutions to meet the evolving needs of our customers,” said Fortive President and CEO James A. Lico in Thursday’s press release. “In the second quarter, we delivered core revenue growth and adjusted operating profit margin above the high-end of our guidance, and a 53% year-over-year increase in adjusted earnings per share. As the global economy continues to improve, we are successfully deploying the Fortive Business System to manage our supply chains to deliver for our customers and generate outstanding free cash flow.”

For the third quarter ending in October, Fortive expects its per-share earnings to range from 62 cents to 66 cents. The company anticipates full-year earnings to be in the range of $2.65 to $2.75 per share.

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