Fortive Raises FY21 Earnings Outlook

(RTTNews) - Fortive Corp. (FTV) Thursday raised its earnings and revenue guidance for the full year 2021.

For the full year 2021, Fortive now anticipates earnings from continuing operations to be in the range of $1.70 to $1.80 per share and adjusted earnings from continuing operations to be in the range of $2.65 to $2.75 per share.

Previously, for the full year 2021, Fortive expected net earnings from continuing operations to be in the range of $1.50 to $1.60 per share and adjusted diluted net earnings from continuing operations to be in the range of $2.50 to $2.60 per share.

For the third quarter, Fortive anticipates net earnings from continuing operations to be in the range of $0.41 to $0.45 per share and adjusted net earnings from continuing operations to be in the range of $0.62 to $0.66 per share.

Analysts polled by Thomson Reuters currently estimate earnings of $0.63 per share and $2.60 per share for the full year 2021.

CEO James Lico said, "We are excited about our recently announced acquisition of ServiceChannel. The transaction adds another differentiated, high-growth SaaS asset with an attractive runway to drive increasing profitability and free cash flow, and generate strong returns over the next five years. As we look ahead, we have significant capacity and opportunity for additional capital allocation which will continue to strengthen the portfolio and drive double-digit earnings and free cash flow growth over the long-term."