Fortive: 2Q Earnings Snapshot
EVERETT, Wash. (AP) _ Fortive Corp. (FTV) on Thursday reported second-quarter net income of $174.6 million.
The Everett, Washington-based company said it had profit of 46 cents per share. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to 90 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.
The industrial conglomerate posted revenue of $1.86 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $1.93 billion.
For the current quarter ending in October, Fortive expects its per-share earnings to range from 83 cents to 88 cents.
The company expects full-year earnings in the range of $3.45 to $3.60 per share.
Fortive shares have risen 21% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $81.79, an increase of 3.5% in the last 12 months.