Core Insights - Fortive reported revenue of $1.47 billion for the quarter ended March 2025, a decrease of 3.3% year-over-year, and EPS of $0.85, slightly up from $0.83 in the previous year [1] - The revenue fell short of the Zacks Consensus Estimate of $1.49 billion, resulting in a surprise of -1.22%, while the EPS met the consensus estimate [1] Financial Performance Metrics - Sales in Intelligent Operating Solutions reached $671.40 million, exceeding the estimated $669.35 million, reflecting a year-over-year increase of 0.9% [4] - Sales in Advanced Healthcare Solutions were $302.20 million, slightly below the estimated $303.14 million, with a year-over-year increase of 0.8% [4] - Sales in Precision Technologies were reported at $500.60 million, significantly lower than the estimated $524.46 million, marking a year-over-year decline of 10.5% [4] - Operating profit for Precision Technologies was $87.30 million, below the average estimate of $98.49 million [4] - Operating profit for Intelligent Operating Solutions was $173.70 million, surpassing the estimated $158.96 million [4] - Operating profit for Advanced Healthcare Solutions was $26.30 million, exceeding the average estimate of $24.60 million [4] - Adjusted operating profit (Non-GAAP) for Advanced Healthcare Solutions was $70.90 million, below the estimate of $74.55 million [4] - Adjusted operating profit (Non-GAAP) for Intelligent Operating Solutions was $223.70 million, above the estimate of $211.49 million [4] - Adjusted operating profit (Non-GAAP) for Precision Technologies was $109.10 million, below the average estimate of $122.67 million [4] - Operating profit for Other segments was reported at -$53.70 million, worse than the estimated -$36.23 million [4] Stock Performance - Fortive's shares have returned -6.2% over the past month, compared to a -0.7% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

分组1 - Fortive reported quarterly earnings of $0.85 per share, matching the Zacks Consensus Estimate, and showing an increase from $0.83 per share a year ago [1] - The company posted revenues of $1.47 billion for the quarter ended March 2025, missing the Zacks Consensus Estimate by 1.22% and down from $1.52 billion year-over-year [2] - Fortive shares have declined approximately 7.1% since the beginning of the year, compared to a decline of 5.3% for the S&P 500 [3] 分组2 - The earnings outlook for Fortive is uncertain, with current consensus EPS estimates at $0.99 for the coming quarter and $4 for the current fiscal year, with revenues expected to be $1.55 billion and $6.24 billion respectively [7] - The Electronics - Testing Equipment industry, to which Fortive belongs, is currently ranked in the top 38% of over 250 Zacks industries, indicating a favorable industry outlook [8] - The estimate revisions trend for Fortive is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, suggesting expected underperformance in the near future [6]

Q1 2025 Performance - Revenue reached $1.47 billion, reflecting a (3)% total growth and a (2)% core growth[7] - Intelligent Operating Solutions (IOS) and Advanced Healthcare Solutions (AHS) experienced a combined growth of +2%[7] - Precision Technologies (PT) faced a decline of (8)%[7] - Adjusted operating profit was $373 million, with an adjusted operating margin expansion of +20 bps[7] - Adjusted EPS stood at $0.85, representing a +2% growth[7] - Adjusted Free Cash Flow was $222 million, a decrease of (4)%[7] Outlook and Strategy - The company expects Q2 2025 Adjusted EPS to be between $0.85 and $0.90, and FY 2025 Adjusted EPS to be between $3.80 and $4.00[25] - Estimated gross incremental tariff impacts for 2025 range from $190 million to $220 million[20] - Mitigation strategies include pricing actions, supply chain optimization, and cost productivity measures, aiming for full offset by Q4 2025 and complete mitigation in 2026[24] Separation Update - The separation into two independent companies, Fortive and Ralliant, is on track for completion by the end of Q2 2025[6,33] - Investor days are scheduled for June 10th[6,33]

Analysts on Wall Street project that Fortive (FTV) will announce quarterly earnings of $0.85 per share in its forthcoming report, representing an increase of 2.4% year over year. Revenues are projected to reach $1.49 billion, declining 2.1% from the same quarter last year.The consensus EPS estimate for the quarter has undergone a downward revision of 1.6% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates duri ...

Fortive (FTV) shares soared 8.3% in the last trading session to close at $67.76. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 15.7% loss over the past four weeks.The increase in share price can be linked to President Trump’s announcement of a 90-day suspension on reciprocal tariffs, excluding China. This news caused stock market indices to surge, which in turn boosted the value of many stocks, including Fortive.In addition to ...

Core Insights - A significant trend is emerging in the solar industry where companies are increasingly outsourcing solar equipment maintenance due to a shortage of specialized skills and resources [1][4] - The Fluke survey indicates that 55% of OEMs, technicians, and installers in the U.S., UK, Germany, and Spain are outsourcing more than half of their solar maintenance activities [2][11] - The trend of outsourcing maintenance is expected to accelerate, with 75% of companies planning to continue or expand external partnerships [3] Outsourcing Trends - In the U.S. and Spain, 54% of companies are outsourcing their solar maintenance, while this figure is 58% in Germany and 48% in the UK [2] - Nearly 90% of surveyed businesses in Spain and Germany are expected to continue outsourcing, compared to 72% in the U.S. and 58% in the UK [3] Skill Gaps and Training - The survey highlights a global skill and resource gap in solar maintenance, with nearly 60% of companies focusing on training technicians in advanced diagnostic tools [4] - In the UK, 56% of companies prioritize data collection protocols to reduce downtime, while in the U.S., 60% emphasize training technicians [5] Survey Demographics - The Fluke survey included over 400 OEMs, technicians, and installers, with 45.6% being technicians and 36.5% OEMs [6] - The majority of respondents were from companies with 100 to 249 employees, representing 33% of the survey population [6]

Financial Liabilities and Risks - The company may face unexpected liabilities from acquisition agreements, which could adversely affect financial results [129]. - Significant debt may be incurred from acquisitions, investments, or joint ventures, potentially leading to increased borrowing costs and diminished access to capital markets [127]. - The company has retained responsibility for known and unknown contingent liabilities related to divested businesses, which could negatively impact financial results [130]. - The company may face civil and criminal liabilities under the federal False Claims Act for submitting false claims to the government [138]. - Regulatory compliance failures could lead to significant penalties and damage to the company's reputation, impacting financial performance [137]. - Environmental, health, and safety liabilities could result in significant costs and adversely affect the company's reputation and financial results [135]. - Changes in effective tax rates or exposure to additional tax liabilities could affect the company's profitability [140]. - The company may incur significant liability if its separation transactions are determined to be taxable [141]. - Compliance with regulations may require significant expenses and could impair the company's flexibility in modifying business strategies [139]. - The company is subject to audits by tax authorities which could result in unfavorable adjustments to tax liabilities [140]. Acquisitions and Integration - The company may experience difficulties in integrating acquired businesses, which could affect operational efficiency and financial outcomes [127]. - The company acquired EA Elektro-Automatik Holding GmbH for a purchase price of $1.72 billion, with estimated fair value of finite-lived intangible assets at $681.2 million [300]. - The acquisition of EA Elektro-Automatik Holding GmbH constituted approximately 12% of the company's total assets and less than 2% of total revenues for the year ended December 31, 2024 [284]. - For the year ended December 31, 2024, the company incurred $33.2 million in pretax transaction-related costs associated with the EA acquisition [367]. - The fair value of net assets acquired from EA included $18.1 million in accounts receivable, $34.4 million in inventories, and $1,175 million in goodwill [369]. - In 2023, the company made four acquisitions in the Intelligent Operating Solutions segment for a total cash consideration of $101.4 million, resulting in $57.3 million of goodwill [370]. - The company recorded a net realized loss of $25.6 million from the divestiture of Invetech, which accounted for less than 1.0% of total revenue for the fiscal year ended December 31, 2023 [371]. Financial Performance - Total sales for the year ended December 31, 2024, reached $6,231.8 million, an increase of 2.74% from $6,065.3 million in 2023 [305]. - Gross profit for 2024 was $3,731.0 million, compared to $3,594.1 million in 2023, reflecting a gross margin improvement [305]. - Net earnings for 2024 were $832.9 million, a decrease of 3.3% from $865.8 million in 2023 [305]. - Basic net earnings per share for 2024 were $2.39, down from $2.46 in 2023 [305]. - The company reported a comprehensive income of $693.6 million for 2024, down from $865.4 million in 2023 [308]. - Research and development expenses for 2024 were $414.0 million, compared to $397.8 million in 2023, indicating a focus on innovation [305]. - The company’s goodwill increased to $10,156.0 million in 2024 from $9,121.7 million in 2023, reflecting the impact of the acquisition [303]. - Net cash provided by operating activities increased to $1,526.8 million in 2024, up from $1,353.6 million in 2023, representing a growth of 12.8% [314]. - The company reported a net cash used in investing activities of $1,796.0 million in 2024, significantly higher than $195.4 million in 2023, primarily due to cash paid for acquisitions [314]. Debt and Capital Structure - The company had approximately $3.7 billion of long-term debt as of December 31, 2024 [144]. - The company’s ability to satisfy debt obligations depends on future operating performance and economic factors [145]. - As of December 31, 2024, the current portion of long-term debt was $376.2 million, while long-term debt, net of current maturities, was $3,331.1 million [387]. - The company issued Euro-denominated senior unsecured notes with net proceeds of approximately $1.3 billion, which were used to refinance existing debt and for general corporate purposes [408]. - The company entered into a delayed-draw term loan facility of up to $1.3 billion, drawing down $550 million and $450 million for the acquisition of EA, with $1.0 billion outstanding [420]. - The company repaid $250 million of the Delayed-Draw Term Loan Due 2023 on August 24, 2023, and the remaining $750 million on December 14, 2023 [421]. Tax and Deferred Tax - Total deferred tax assets decreased from $524.6 million in 2023 to $512.5 million in 2024, a reduction of approximately 2.0% [455]. - Total deferred tax liabilities increased from $1,033.4 million in 2023 to $1,156.0 million in 2024, an increase of approximately 11.9% [455]. - The net deferred tax liability rose from $508.8 million in 2023 to $643.5 million in 2024, reflecting an increase of approximately 26.4% [455]. - Deferred tax assets related to tax credit and loss carryforwards increased from $377.7 million in 2023 to $432.9 million in 2024, an increase of approximately 14.6% [455]. - Valuation allowances for deferred tax assets increased from $282.4 million in 2023 to $311.8 million in 2024, an increase of approximately 10.4% [455]. Revenue Recognition and Sales - The company recognized revenue from product sales, including software and SaaS offerings, when control is transferred to customers [339]. - Total sales of services in 2024 were $949.5 million, up from $927.6 million in 2023, reflecting a growth of 2.03% [446][447]. - Sales of products and software reached $5,282.3 million in 2024, up from $5,137.7 million in 2023, indicating a growth of 2.83% [446][447]. - The United States contributed $3,372.0 million to total revenue in 2024, compared to $3,288.4 million in 2023, reflecting an increase of 2.55% [446][447]. - Direct sales in the healthcare sector amounted to $1,451.8 million in 2024, a slight increase from $1,431.7 million in 2023, showing a growth of 1.77% [446][447]. Pension and Employee Benefits - The company recorded a funded status of $(2.9) million for U.S. Pension Benefits and $(70.6) million for Non-U.S. Pension Benefits as of December 31, 2024 [425]. - The net periodic pension cost for U.S. pension benefits decreased to $0.1 million in 2024 from $0.4 million in 2023, while non-U.S. pension benefits decreased to $3.3 million from $5.1 million [429]. - The company contributed $1 million to its U.S. defined benefit pension plan and $8 million to its non-U.S. plan in 2024, with similar contributions expected in 2025 [435].

Core Insights - A Fluke survey indicates that 68% of respondents believe the EV industry is lagging in adoption, yet 92% are confident in the long-term success of EV charging infrastructure due to current standards and regulations [1][2]. Industry Challenges - 47% of respondents feel the industry is 25-50% behind the adoption curve, while 17% believe it is over 50% behind [2]. - 40% of U.S. respondents predict that widespread charger availability will not meet demand for up to seven years or longer [2]. - Charger maintenance is a primary concern, with 36% of respondents identifying it as a key challenge [3]. - 44% of respondents cite inoperable chargers as a significant hurdle, and 40% point to software incompatibility as another major obstacle [3][9]. Workforce Development - 88% of respondents highlight a critical skills gap within the EV workforce, indicating an urgent need for training and development [3]. - Key factors for a successful EV charging strategy include predictive maintenance (32%) and artificial intelligence (31%) [4][9]. Infrastructure Reliability - The survey emphasizes the need for resilient infrastructure design, remote monitoring, and standardized best practices to ensure the reliability and efficiency of the EV charging ecosystem [5]. - The EV industry is at a pivotal moment, with a critical need to close maintenance gaps and upskill technicians to ensure optimal performance at every charging point [6].

Group 1 - Fortive Corp's shares rose by 1.85% to $80.55 despite disappointing fourth-quarter revenues [4] - Adjusted cash earnings were reported at $1.17 per share, exceeding RBC's estimates by 6 cents, with core earnings growing by 1.8% year-on-year [1] - Sales for the fourth quarter were $1.62 billion, slightly missing the consensus estimate of $1.629 billion [3] Group 2 - Management guided for first-quarter adjusted earnings of 83 to 86 cents per share, below the consensus of 91 cents [3] - The company expects revenues of $1.48 billion to $1.51 billion, missing the consensus of $1.565 billion [4] - Fiscal year 2025 guidance includes adjusted EPS expected to be between $4.00 and $4.12, with a midpoint of $4.06, below the consensus of $4.13 [4] Group 3 - The spinoff of Precision Technologies is anticipated to be completed early in the third quarter, ahead of the previously planned fourth quarter [2] - Analysts from RBC Capital Markets and Truist Securities have provided differing ratings and price targets, with RBC raising its target from $77 to $80 and Truist maintaining a Buy rating with a target of $90 [5]

Core Insights - Fortive Corporation reported fourth-quarter 2024 adjusted EPS of $1.17, exceeding the Zacks Consensus Estimate by 4.5% and reflecting a year-over-year increase of 19.4% [1] - Revenues for the quarter rose 2.3% year over year to $1.62 billion, although this figure missed the Zacks Consensus Estimate by 0.5% [2] - The company plans to separate its Precision Technologies business into an independent publicly traded company named Ralliant, expected to close in early Q3 2025 [3] Financial Performance - The Intelligent Operating Solutions segment generated revenues of $710.8 million, contributing 43.9% to total revenues, up 4.1% year over year [5] - Precision Technologies segment revenues totaled $567.7 million, down 0.4% year over year [5] - Advanced Healthcare Solutions reported revenues of $341.8 million, up 3.2% year over year [5] - Gross profit increased 3.1% to $977.2 million, with an adjusted operating margin of 28.7%, up 1% year over year [6] Cash Flow and Share Repurchase - Fortive used its second-half free cash flow to repurchase about 10 million shares, representing 80% of its free cash flow [4] - As of December 31, 2024, cash and cash equivalents were $813.3 million, with operating cash flow of $502.2 million for the fourth quarter [7] Future Outlook - For 2025, Fortive anticipates revenues between $6.23 billion and $6.35 billion, with core revenue growth of 1.5% to 3.5% [8] - Adjusted diluted EPS is expected to be between $4 and $4.12, reflecting a year-over-year increase of 3% to 6% [8] - For Q1 2025, core revenues are expected to be flat, with adjusted EPS projected between 83 cents and 86 cents [10]