Fortive Raises FY22 Guidance - Update

(RTTNews) - While reporting better-than-expected Q1 results, Fortive Corp. (FTV) raised its fiscal 2022 outlook, and issued financial guidance for the second quarter.

FY22 Guidance

The company now sees FY22 net earnings from continuing operations to be in the range of $2.07 - $2.16 per share and adjusted net earnings from continuing operations in the range of $3.04 - $3.13 per share, with revenue between $5.77 billion and $5.88 billion. Wall Street analysts estimate earnings of $3.09 per share on revenue of $5.80 billion for the year 2022.

Previously, the company expected full year 2022 EPS from continuing operations of $2.03 - $2.17, and adjusted EPS from continuing operations of $3.00 - $3.13, with revenue in the range of $5.73 billion - $5.88 billion.

Q2 Outlook

For the second quarter, the company expects net earnings from continuing operations to be in the range of $0.44 - $0.47 per share and adjusted net earnings from continuing operations of $0.70 - $0.73 per share, with revenue between $1.39 billion and $1.43 billion. Analysts expect earnings of $0.74 per share on revenue of $1.44 billion for the quarter.