Fortive Corporation Reports Impressive Annual and Q4 Results
Fortive Corporation Announces Strong Financial Results
Fortive Corporation (“Fortive”) (NYSE: FTV) has reported outstanding financial results for the fourth quarter and full year of 2024, highlighting its robust performance and resilience in the current market landscape.
Fourth Quarter Overview
In the fourth quarter, Fortive achieved net earnings of $209 million, while adjusted net earnings reached $406 million. The company reported diluted net earnings per share of $0.60, and adjusted diluted net earnings per share amounted to $1.17. Revenue climbed by 2% year-over-year, totaling $1.62 billion, with a core revenue growth of 2%.
Full Year Highlights
For the complete year, Fortive’s net earnings were $833 million, with adjusted net earnings at $1.37 billion. The diluted net earnings per share stood at $2.36, and adjusted diluted earnings per share were $3.89. Full-year revenues reached $6.23 billion, showing a 3% growth over the previous year, encouraged by a 1% growth in core revenue.
Comments from Leadership
James A. Lico, President and CEO, commented on the results, stating, “Our fourth quarter results once again demonstrated strong execution despite the challenging macro environment. We saw continued growth across our Intelligent Operating Solutions (IOS) and Advanced Healthcare Solutions (AHS) segments, fueled by steady demand for safety and productivity solutions.”
Outlook for 2025
Looking ahead, Fortive aims for revenues between $1.48 billion to $1.51 billion in the first quarter of 2025. For the entire year, expected revenues are anticipated to be approximately $6.23 billion to $6.35 billion, with diluted net earnings per share forecasted between $2.38 to $2.50, alongside adjusted figures ranging from $4.00 to $4.12. The guidance provided does not reflect the anticipated separation of its Precision Technologies segment.
Strategic Separation Update
On September 4, 2024, Fortive announced its plans to separate its Precision Technologies business into an independent company named Ralliant. This strategic move aims to establish two operationally distinct entities, each focused on specific market segments. The process is expected to be a tax-free spin-off for Fortive shareholders, pending conditions such as final board approvals and regulatory review.
Conference Call Insights
Fortive held an investor conference call to discuss these results and their outlook. Investors can review detailed presentations made during the call on Fortive’s official website. A recording of the conference call will subsequently be available for those who were unable to attend.
About Fortive Corporation
Fortive is dedicated to providing essential technologies that facilitate connected workflow solutions across various attractive end-markets and engaging in continuous improvement through the application of the Fortive Business System. The company’s portfolio consists of well-regarded brands within its strategic sectors, which include Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions, all committed to driving significant market impacts.
Frequently Asked Questions
What are the key financial results for Fortive in Q4 2024?
Fortive reported net earnings of $209 million for Q4 2024, with adjusted earnings of $406 million and revenues reaching $1.62 billion.
What is Fortive’s forecast for Q1 2025?
Fortive expects revenues between $1.48 billion to $1.51 billion in Q1 2025, with diluted net earnings per share projected at $0.39 to $0.42.
How has Fortive's revenue growth been in 2024?
For the full year 2024, Fortive's total revenues increased by 3% year-over-year, reaching $6.23 billion.
What strategic changes are in store for Fortive?
Fortive plans to separate its Precision Technologies segment into a new independent entity, Ralliant, targeting completion in early 2025.
Where can I find more information about Fortive’s financial performance?
More details can be found on Fortive's official website, where recordings of conference calls and official presentations are made available.
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