Fortive Q4 Profit Beats Estimates (Adds Full Year Outlook)

(RTTNews) - Fortive Corp. (FTV) said, for the full year 2022, the company anticipates revenue of $5.73 billion to $5.88 billion, net earnings per share from continuing operations to be in the range of $2.03 to $2.17 and adjusted net earnings per share from continuing operations to be in the range of $3.00 to $3.13. Analysts polled by Thomson Reuters expect the company to report profit per share of $3.10 on revenue of $5.77 billion. Analysts' estimates typically exclude special items.

For the first quarter, Fortive anticipates revenue of $1.33 billion to $1.37 billion, net earnings per share from continuing operations to be in the range of $0.40 to $0.44 and adjusted net earnings per share from continuing operations to be in the range of $0.65 to $0.69. Analysts expect the company to report profit per share of $0.72 on revenue of $1.37 billion.

Fourth quarter adjusted earnings from continuing operations was $0.79 per share compared to $0.70, prior year. Analysts on average had expected the company to earn $0.78 per share, according to figures compiled by Thomson Reuters.

Net income was at $165.0 million, or $0.45 per share compared to $1.20 billion, or $3.37 per share, a year ago.

Revenue rose 3.8% to $1.37 billion from $1.32 billion last year. Analysts on average had estimated $1.44 billion in revenue. Core revenue growth was 1.0%, for the quarter.

Shares of Fortive were down 2% in pre-market trade on Thursday.