Fortive Corporation Q1 Profit Increases, beats estimates

(RTTNews) - Fortive Corporation (FTV) reported a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $165.1 million, or $0.45 per share. This compares with $92.9 million, or $0.27 per share, in last year's first quarter.

Excluding items, Fortive Corporation reported adjusted earnings of $255.1 million or $0.70 per share for the period.

Analysts on average had expected the company to earn $0.68 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.5% to $1.38 billion from $1.26 billion last year.

Fortive Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $165.1 Mln. vs. $92.9 Mln. last year. -EPS (Q1): $0.45 vs. $0.27 last year. -Analyst Estimate: $0.68 -Revenue (Q1): $1.38 Bln vs. $1.26 Bln last year.

-Guidance: Next quarter EPS guidance: $0.70 - $0.73 Next quarter revenue guidance: $1.39 - $1.43 Bln Full year EPS guidance: Adj; $3.04 - $3.13 Full year revenue guidance: $5.77 - $5.88 Bln