Fortive Corp Stock Price, News & Analysis

Fluke has introduced the new Fluke 1670 Series Multifunction Installation Tester, designed to significantly improve the efficiency of electrical installation inspections. This advanced tool can reduce reporting times by up to 50% and speed up testing by 30%, making it a important addition to an electrician's toolkit.

The series offers three models suitable for residential, commercial, and industrial applications. Key features include a user-programmable AutoTest function, Fluke Connect software for data management, and TruTest software for simplified documentation. The device's full-color touchscreen provides immediate feedback on test results, ensuring accuracy and reducing the need for re-testing.

Wireless Bluetooth connectivity eliminates data double-entry, further enhancing efficiency. According to Jit Patel, Fluke's Product Manager, the 1670 Series addresses common challenges in data processing and reporting, making it a best-in-class solution for electricians.

Fluke has unveiled the Fluke 283 FC Solar Digital Multimeter and the Fluke a283 FC True-RMS Wireless Clamp, designed for solar professionals working in high-voltage environments. These tools offer enhanced safety features and increased productivity for testing solar panels, strings, and invertors in utility-scale photovoltaic arrays.

Key features include:

• CAT III 1500 V DC safety rating
• Precise voltage measurements up to 1500 V DC
• 60 A AC/DC current measurements
• Visual and audio polarity indicators
• User-defined limit gauge
• Wireless connectivity for remote measurements
• Automatic VA power calculation

The tools integrate with Fluke Connect™ and Fluke Cloud Storage for advanced data analysis and storage.

Fortive (NYSE: FTV) has announced plans to spin off its Precision Technologies segment, creating two independent public companies. The tax-free spin-off is expected to be completed in Q4 2025, subject to various conditions. Post-separation, Fortive will focus on recurring revenue and software businesses, while the new company (NewCo) will comprise the Precision Technologies segment.

Key points:

• Fortive to have ~50% recurring revenue post-spin-off
• Leadership transition: James A. Lico to retire, Olumide Soroye to become Fortive CEO, Tami Newcombe to lead NewCo
• 75% of available free cash flow to fund share repurchases until spin-off completion
• Q3 2024 and full-year 2024 outlook reaffirmed
• Conference call scheduled for September 5th at 8:00 a.m. ET

Fortive (NYSE: FTV) has announced a regular quarterly cash dividend of $0.08 per share on its common stock. The dividend is payable on September 27, 2024 to stockholders of record as of September 13, 2024. While Fortive anticipates maintaining quarterly dividend payments, future declarations, including amounts, record dates, and payment dates, remain subject to the Board of Directors' discretion. This announcement demonstrates Fortive's commitment to providing consistent returns to its shareholders, though investors should note that future dividends are not guaranteed.

Fortive (NYSE: FTV) has announced that its top executives will be presenting at the upcoming Morgan Stanley Laguna Conference. The presentation is scheduled for Thursday, September 12th, 2024, at 1:30 p.m. ET (10:30 a.m. PT). James A. Lico, President and Chief Executive Officer of Fortive, and Olumide Soroye, President and Chief Executive Officer of Intelligent Operating Solutions, will be representing the company at this event.

The presentation will be simultaneously webcast and subsequently archived on Fortive's official website, www.fortive.com. This provides an opportunity for investors and interested parties to gain insights into Fortive's strategies and performance directly from its leadership team.

Advanced Sterilization Products (ASP), a Fortive (NYSE: FTV) division, in collaboration with PENTAX Medical, has received FDA clearance for the ULTRA GI™ Cycle in its STERRAD™ 100NX Sterilizer with ALLClear™ Technology. This innovative cycle is specifically designed to reprocess duodenoscopes using hydrogen peroxide gas plasma sterilization, addressing concerns about high contamination rates in these devices.

The new sterilization method aims to revolutionize patient safety and set a new industry standard. Chad Rohrer, President of ASP, emphasized the importance of this development in reducing patient risk. Dr. Ivan Salgo, Chief Medical & Scientific Officer at ASP, highlighted that the ULTRA GI™ Cycle represents a significant shift towards making hydrogen peroxide gas plasma the gold standard for duodenoscope sterilization, improving safety for patients, technicians, and the environment.

Fortive (NYSE: FTV) reported strong Q2 2024 results, with revenue increasing 2% year-over-year to $1.55 billion. The company delivered resilient earnings growth and operating cash flow despite a delayed recovery in certain markets. Key highlights include:

- GAAP diluted EPS of $0.55
- Adjusted diluted EPS of $0.93, at the high-end of guidance
- Operating profit margin of 19%
- Adjusted operating profit margin of 27%, up 90 bps year-over-year
- Operating cash flow of $309 million
- Free cash flow of $280 million, ahead of guidance

Fortive narrowed its full-year 2024 outlook, projecting revenue of $6.25-$6.30 billion and adjusted diluted EPS of $3.80-$3.86, representing an 11-13% year-over-year increase.

Fortive has scheduled its second quarter 2024 earnings conference call for July 24, 2024, at 12:00 p.m. ET. The call will be webcast on Fortive’s website under the 'Investors' section. A slide presentation will accompany the call, and a replay will be available shortly after the call concludes. Access to the conference call is available by dialing specific numbers for U.S. and international participants. Recording of the call will be accessible until August 7, 2024. Fortive is currently in its 'quiet period' until the earnings release on July 24, 2024, which means no interaction with the investment community during this time.

A recent survey by Fluke Reliability reveals that manufacturers are leading in AI adoption, with 61% expecting to meet their AI goals within 11 months. Conducted by Censuswide, the survey involved over 600 senior decision-makers and maintenance professionals from the US, UK, and Germany.

AI is a high business priority for 93% of respondents, with significant investment planned for AI technologies in 2024. Predictive maintenance is a key focus, with 77% aiming to shift from reactive to proactive strategies.

Investments are driven by the benefits of AI, such as improved efficiency, new product development, and addressing labor shortages. Despite only 9% having completed their Industry 5.0 goals, manufacturers show strong confidence in AI's transformative potential.