Fortive Corporation Q1 Profit Increases, beats estimates

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

The company's earnings totaled $207.4 million, or $0.58 per share. This compares with $173.6 million, or $0.49 per share, in last year's first quarter.

Excluding items, Fortive Corporation reported adjusted earnings of $295.3 million or $0.83 per share for the period.

Analysts on average had expected the company to earn $0.79 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.1% to $1.52 billion from $1.46 billion last year.

Fortive Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $207.4 Mln. vs. $173.6 Mln. last year. -EPS (Q1): $0.58 vs. $0.49 last year. -Revenue (Q1): $1.52 Bln vs. $1.46 Bln last year.

-Guidance: Next quarter EPS guidance: $0.90 - $0.93 Next quarter revenue guidance: $1.6 Bln Full year EPS guidance: $3.77 - $3.86 Full year revenue guidance: $6.35 - $6.43 Bln