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Fortive(FTV) - 2022 Q3 - Quarterly Report
2022-10-25 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________ FORM 10-Q ________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2022 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-37654 _____________________ ...
Fortive(FTV) - 2022 Q2 - Earnings Call Presentation
2022-07-29 03:26
6 FORTIVE | --- | --- | --- | |---------------------|-------|-------| | | | | | | | | | | | | | | | | | | | | | Second Quarter 2022 | | | | | | | | Earnings Release | | | FORWARD LOOKING STATEMENTS & NON-GAAP FINANCIAL MEASURES Statements in this presentation that are not strictly historical, including statements regarding anticipated financial results, economic conditions, future prospects, impact of supply chain constraints, duration and impact of COVID-19 pandemic and the corresponding government mandate ...
Fortive(FTV) - 2022 Q2 - Earnings Call Transcript
2022-07-28 22:22
Financial Data and Key Metrics Changes - The company achieved 9% core revenue growth, 190 basis points adjusted operating margin expansion, and 18% adjusted earnings per share growth in Q2 2022, exceeding guidance [5][10] - Total revenue grew by 11% year-over-year, with core growth of 9%, while acquisitions contributed 5 points to total growth [23] - Adjusted earnings per share increased 18% to $0.78, reflecting strong volume growth and lower share count [28] Business Line Data and Key Metrics Changes - Intelligent Operating Solutions (IOS) saw revenues up 16% with core revenue growth of 12%, driven by strong demand in North America and Western Europe [13] - Precision Technologies reported total revenue growth of 6% and core revenue growth of 9%, with significant demand in industrial and medical sectors [17] - Advanced Healthcare Solutions (AHS) experienced total revenue growth of 9% but core revenue growth of only 3%, impacted by COVID-related challenges in China [19] Market Data and Key Metrics Changes - North America core revenues increased by high single digits, while Western Europe revenues grew mid-teens, indicating strong performance across regions [24][25] - China revenues increased mid-teens despite lockdowns, with a 20% order growth as customers sought to replenish inventories [26] - The company noted strong double-digit revenue growth in high-growth markets [26] Company Strategy and Development Direction - The company is focused on enhancing its recurring revenue profile and diversifying its end markets, with healthcare now being the largest revenue source [11][12] - The Fortive Business System (FBS) is emphasized as a key differentiator, driving innovation and operational efficiency [21][39] - The company plans to continue prioritizing M&A as a primary driver of capital deployment while maintaining a strong balance sheet [34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to navigate supply chain challenges and inflation, expecting continued core growth in the second half of the year [9][10] - The company raised its full-year outlook, anticipating core revenue growth of 8% to 9.5% and adjusted earnings per share in the range of $3.07 to $3.13 [29][30] - Management highlighted the importance of backlog and recurring revenue as buffers against potential economic slowdowns [91][92] Other Important Information - The company achieved a free cash flow of $276 million in Q2, reflecting a 98% conversion rate [28] - Sustainability initiatives were highlighted, including early achievement of greenhouse gas emissions reduction targets [36][37] Q&A Session Summary Question: Concerns about AHS segment pricing and growth - Management acknowledged challenges in pricing and volumes, particularly in China, but anticipated acceleration in core growth for AHS in the second half [46][47] Question: Capital deployment and share buybacks - Management indicated that M&A remains a priority, with opportunistic share buybacks occurring as needed [51][52] Question: M&A pipeline and market conditions - Management noted that while private equity remains active, the market is experiencing longer transaction times and higher prices [55][56] Question: Performance in Western Europe - Management attributed strong performance in Western Europe to backlog management and favorable market conditions [57][59] Question: Insights on Tektronix order strength - Management highlighted innovation and strong demand in Tektronix, with a book-to-bill ratio of 1.3 [76][77] Question: Free cash flow dynamics - Management explained that the second half typically sees stronger free cash flow due to seasonal factors and working capital relief [100]
Fortive Corp (FTV) Presents at Global Transportation & Industrials Virtual Conference 2022 - Slideshow
2022-05-25 15:52
(9) FORTIVE | --- | --- | --- | --- | |---------------------------|-------|-------|-------| | | | | | | | | | | | Wolfe Industrial Growth & | | | | | Technology Conference | | | | 2 FORWARD LOOKING STATEMENTS & NON-GAAP FINANCIAL MEASURES Statements in this presentation that are not strictly historical, including statements regarding anticipated financial results, economic conditions, future prospects, anticipated market opportunities, business and acquisition opportunities, and any other statements identif ...
Fortive(FTV) - 2022 Q1 - Earnings Call Transcript
2022-04-28 23:13
Fortive Corporation (NYSE:FTV) Q1 2022 Earnings Conference Call April 28, 2022 12:00 PM ET Company Participants Elena Rosman – Vice President-Investor Relations Jim Lico – President and Chief Executive Officer Chuck McLaughlin – Senior Vice President and Chief Financial Officer Conference Call Participants Steve Tusa – JPMorgan Julian Mitchell – Barclays Andrew Obin – Bank of America Nigel Coe – Wolfe Research Deane Dray – RBC Scott Davis – Melius Research Jeff Sprague – Vertical Research Andy Kaplowitz – C ...
Fortive(FTV) - 2022 Q1 - Earnings Call Presentation
2022-04-28 15:42
Ø FORTIVE | --- | --- | --- | --- | |--------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | First Quarter 2022 | | | | | Earnings Release | | | | 2 FORWARD LOOKING STATEMENTS & NON-GAAP FINANCIAL MEASURES Statements in this presentation that are not strictly historical, including statements regarding anticipated financial results, economic conditions, future prospects, impact of supply chain constraints, duration and impact of COVID-19 pandemic and the correspondin ...
Fortive(FTV) - 2021 Q4 - Annual Report
2022-02-28 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________ FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-37654 ____________ FORTIVE CORPORATION (Exact name of registrant as specified in its c ...
Fortive(FTV) - 2021 Q2 - Earnings Call Transcript
2021-07-30 04:51
Financial Data and Key Metrics Changes - The company reported a total revenue growth of 26.7% year-over-year, exceeding the high end of guidance [15] - Adjusted operating margin was 22.2%, with adjusted earnings per share at $0.66, representing a year-over-year increase of 53.5% [15] - Free cash flow generated was $282 million, representing 118% conversion of adjusted net income [15][30] Business Line Data and Key Metrics Changes - The Intelligent Operating Solutions (IOS) segment posted total revenue growth of 31.2%, with mid-20% core growth in North America and low 30% core growth in Western Europe [16] - Precision Technologies segment saw a total revenue increase of 25.1%, with Tektronix increasing by approximately 30% [22] - Advanced Healthcare Solutions (AHS) total revenue increased by 21.8%, including 11% core growth [25] Market Data and Key Metrics Changes - Fluke core revenue increased in the mid-30% range, with strong demand across its businesses [16] - In China, IOS experienced low 20% core growth, while Precision Technologies had mid-teens growth [16][22] - The AHS segment reported high single-digit core growth in North America, Western Europe, and China [25] Company Strategy and Development Direction - The company is focusing on expanding its software capabilities to address critical workflow needs and accelerate digital transformation for customers [10] - The acquisition of ServiceChannel is expected to enhance the company's ability to meet evolving needs of facility owners globally [13] - The company aims to leverage its strong free cash flow and M&A capacity to pursue organic and inorganic growth initiatives [36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing recovery in key end markets and the ability to capitalize on post-COVID return to work challenges [11][36] - The company anticipates continued strong performance in the second half of 2021, raising its full-year guidance for adjusted diluted net earnings per share to $2.65 to $2.75 [31] - Management highlighted the importance of sustainability and inclusion efforts, committing to significant greenhouse gas reduction goals [35] Other Important Information - The company completed the separation of its Industrial Technologies segment through the spinoff of Vontier Corporation on October 9, 2020 [4] - The deployment of the Fortive Business System has driven innovation and growth across the portfolio, with significant improvements in R&D efficiency [12] Q&A Session Summary Question: AHS margin guidance for Q4 - Management indicated that margins could reach the mid to high 20s due to expected revenue acceleration from elective surgeries and seasonal revenue increases [41][44] Question: Impact of cost increases on margins - Management confirmed that there were $60 million of snapback costs and an additional $15 million in investments that impacted Q2 margins [47] Question: Channel inventories and demand - Management noted that point of sale improved significantly, and they are monitoring orders on hand to ensure they are not building excess inventory [53][54] Question: Growth in new verticals for Tektronix - Management reported increased sales in automotive and data centers, indicating a positive outlook for growth in these new verticals [56][57] Question: Professional services growth and site access - Management expects double-digit growth in professional services in the second half, with improved site access aiding in closing deals [68] Question: Supply chain constraints - Management acknowledged ongoing supply chain challenges but expressed confidence in their ability to meet demand due to established lean manufacturing capabilities [75] Question: Growth outlook in China - Management remains optimistic about growth in China, particularly for Fluke and Tektronix, expecting mid-teens growth for the full year [82]
Fortive(FTV) - 2020 Q4 - Annual Report
2021-02-25 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________ FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-37654 ____________ FORTIVE CORPORATION (Exact name of registrant as specified in its c ...
Fortive(FTV) - 2019 Q4 - Annual Report
2020-02-27 22:09
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________ FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-37654 ____________ FORTIVE CORPORATION (Exact name of registrant as specified in its c ...