Wed, Oct 30, 11:37 AM (64 days ago)
For the third quarter ended September 27, 2024, Fortive Corporation (FTV) reported a revenue increase of 2.7% year-over-year to $1,534.6 million, driven by a 1.1% core revenue growth and a 1.6% contribution from acquisitions. Gross profit margins improved to 60.0%, reflecting effective pricing strategies and productivity gains, despite challenges from volume declines in certain segments. Operating profit margins stood at 19.3%, a slight decrease from 19.5% in Q3 2023, impacted by higher employee compensation and acquisition-related costs. The company's net earnings rose to $221.6 million, with a diluted EPS of $0.63. Cash flow from operations reached $1,024.6 million, an increase of 13.0% from the prior year. However, cash used in investing activities surged to $1.8 billion, primarily due to the acquisition of EA Elektro-Automatik for $1.72 billion. Fortive plans to separate into two independent publicly traded companies by Q4 2025, which is expected to enhance operational focus and growth potential. Overall, Fortive's financial health remains stable, but uncertainties regarding global economic conditions and the upcoming separation could impact future operations.