Fortive: 4Q Earnings Snapshot
EVERETT, Wash. (AP) _ Fortive Corp. (FTV) on Thursday reported fourth-quarter earnings of $2.11 billion.
On a per-share basis, the Everett, Washington-based company said it had profit of $6.17. Earnings, adjusted for one-time gains and costs, came to 91 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.
The industrial conglomerate posted revenue of $1.76 billion in the period, meeting Street forecasts.
For the year, the company reported profit of $2.91 billion, or $8.21 per share. Revenue was reported as $6.45 billion.
For the current quarter ending in April, Fortive expects its per-share earnings to range from 64 cents to 68 cents.
The company expects full-year earnings in the range of $3.40 to $3.50 per share.
Fortive shares have increased 10 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $74.45, an increase of roughly 4 percent in the last 12 months.