Welcome to our dedicated page for Fortive news (Ticker: FTV), a resource for investors and traders seeking the latest updates and insights on Fortive stock.
Fortive Corporation reports developments across a diversified industrial technology business focused on essential products, software, and services. Its continuing operations are organized around Intelligent Operating Solutions and Advanced Healthcare Solutions, with brands and platforms tied to maintenance, repair, measurement, condition monitoring, worker safety, compliance, facilities, and healthcare technology markets.
Recurring Fortive news includes quarterly results, earnings calls, share repurchase authorizations, investor conference appearances, and updates following the completed separation of its former Precision Technologies segment into Ralliant. Product news often centers on Fluke offerings such as RotAlign laser shaft alignment systems, SmartTrace underground utility locators, and eMaint CMMS/EAM software with artificial intelligence features for maintenance work.
Fortive Corporation (NYSE: FTV) reported its third quarter 2020 results, revealing net earnings from continuing operations of $208.5 million, a 2.3% increase in revenues to $1.9 billion, with core revenue slightly declining by 0.1%. Adjusted diluted net earnings per share rose 8% year-over-year to $0.94. CEO James A. Lico expressed satisfaction with the results, noting strong revenue performance exceeding initial guidance despite a challenging environment. Fortive anticipates fourth-quarter revenue growth of 0% to 3% year-over-year and emphasized robust free cash flow and a solid M&A pipeline.
Fortive Corporation (NYSE: FTV) will host a webcast for its Q3 2020 earnings conference call on October 27, 2020, at 5:30 p.m. ET. The call is expected to last approximately one hour, and investors can participate via a dial-in or through the company's website. A replay will be accessible for two weeks post-call. The company is currently in its 'quiet period' ahead of the earnings release, meaning no interactions with the investment community will occur until after the results are announced.
Fortive Corporation has successfully completed the separation of its Industrial Technologies segment by spinning off Vontier Corporation, which will begin trading on the NYSE under the symbol 'VNT' from October 9, 2020. Shareholders received two shares of Vontier stock for every five shares of Fortive held as of September 25, 2020. Approximately 134.9 million shares were distributed, with 33.5 million shares retained by Fortive. This strategic separation aims to allow both companies to focus on their independent growth strategies and enhance shareholder value.
Fortive Corporation (NYSE: FTV) expects a 2.0% increase in total revenue for Q3 2020 compared to the previous year, surpassing earlier guidance. The Professional Instrumentation segment predicts a 1.0% increase in revenue, an improvement from a previously expected decline. Meanwhile, the Industrial Technologies segment anticipates a 4.5% increase in revenue, exceeding previous low single-digit growth estimates. Fortive also projects positive growth in both operating profit and adjusted operating profit for Q3.