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Fortive (FTV) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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Fortive (FTV - Free Report) reported $1.53 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 4.3%. EPS of $0.85 for the same period compares to $0.78 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.5 billion, representing a surprise of +1.68%. The company delivered an EPS surprise of +4.94%, with the consensus EPS estimate being $0.81.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Fortive performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Sales- Intelligent Operating Solutions: $653.10 million compared to the $655.37 million average estimate based on three analysts. The reported number represents a change of +3.7% year over year.
Sales- Advanced Healthcare Solutions: $335.90 million versus $332.56 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +0.5% change.
Sales- Precision Technologies: $537.40 million versus $516.03 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +7.7% change.
Operating Profit- Precision Technologies: $136.30 million compared to the $125.99 million average estimate based on two analysts.
Operating Profit- Intelligent Operating Solutions: $161.70 million compared to the $157.80 million average estimate based on two analysts.
Operating Profit- Advanced Healthcare Solutions: $25.90 million versus the two-analyst average estimate of $30.56 million.
Adjusted Operating Profit (Non-GAAP)- Advanced Healthcare Solutions: $75.50 million versus $75.39 million estimated by two analysts on average.
Adjusted Operating Profit (Non-GAAP)- Intelligent Operating Solutions: $215.40 million versus the two-analyst average estimate of $201.74 million.
Adjusted Operating Profit (Non-GAAP)- Precision Technologies: $138.30 million versus $125.51 million estimated by two analysts on average.
Operating Profit- Other: -$32.60 million compared to the -$32 million average estimate based on two analysts.
Shares of Fortive have returned +1.5% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Fortive (FTV) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
Fortive (FTV - Free Report) reported $1.53 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 4.3%. EPS of $0.85 for the same period compares to $0.78 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.5 billion, representing a surprise of +1.68%. The company delivered an EPS surprise of +4.94%, with the consensus EPS estimate being $0.81.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Fortive performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Sales- Intelligent Operating Solutions: $653.10 million compared to the $655.37 million average estimate based on three analysts. The reported number represents a change of +3.7% year over year.
- Sales- Advanced Healthcare Solutions: $335.90 million versus $332.56 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +0.5% change.
- Sales- Precision Technologies: $537.40 million versus $516.03 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +7.7% change.
- Operating Profit- Precision Technologies: $136.30 million compared to the $125.99 million average estimate based on two analysts.
- Operating Profit- Intelligent Operating Solutions: $161.70 million compared to the $157.80 million average estimate based on two analysts.
- Operating Profit- Advanced Healthcare Solutions: $25.90 million versus the two-analyst average estimate of $30.56 million.
- Adjusted Operating Profit (Non-GAAP)- Advanced Healthcare Solutions: $75.50 million versus $75.39 million estimated by two analysts on average.
- Adjusted Operating Profit (Non-GAAP)- Intelligent Operating Solutions: $215.40 million versus the two-analyst average estimate of $201.74 million.
- Adjusted Operating Profit (Non-GAAP)- Precision Technologies: $138.30 million versus $125.51 million estimated by two analysts on average.
- Operating Profit- Other: -$32.60 million compared to the -$32 million average estimate based on two analysts.
View all Key Company Metrics for Fortive here>>>Shares of Fortive have returned +1.5% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.