We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Here's How Fortive (FTV) Is Placed Ahead of Q2 Earnings
Read MoreHide Full Article
Fortive Corporation (FTV - Free Report) is scheduled to release second-quarter 2024 results on Jul 24.
Management expects total revenues to be in the range of $1.55-$1.575 billion. The Zacks Consensus Estimate for revenues is currently pegged at $1.56 billion, suggesting an increase of 2.3% from the prior-year quarter's level.
Non-GAAP earnings per share (EPS) is forecasted to be in the range of 90-93 cents. The Zacks Consensus Estimate is pegged at 92 cents, indicating an increase of 8.2% from the prior-year quarter’s reported figure.
The company has a trailing four-quarter earnings surprise of 3.6%, on average. Shares of Fortive have risen 2.1% in the past year compared with the sub-industry’s growth of 7.3%.
Image Source: Zacks Investment Research
Factors to Note
The top-line performance is likely to have benefited from solid customer demand across most geographies and continued strength in software and other recurring revenue businesses. Focus on improving the Fortive Business System to drive innovation is another tailwind.
Frequent product launches and synergies from strategic acquisitions are expected to have aided in its top-line expansion.
Fortive's Intelligent Operating Solutions segment’s performance is likely to have been driven by steady demand, coupled with new logo software and recurring bookings growth. Steady growth at Fluke, owing to customer adoption in key growth verticals, is anticipated to have cushioned segmental revenues.
Momentum in power, food & beverages, and aerospace and defense markets is likely to have driven revenues for the Precision Technologies segment.
The Advanced Healthcare Solutions business is anticipated to have been gaining from recovery in the consumables sector, new logos activity and higher SaaS solutions uptake.
The Zacks Consensus Estimate for Intelligent Operating Solutions, Precision Technologies and Advanced Healthcare Solutions' revenues is pegged at $678 million, $564 million and $320 million, respectively.
Normalizing demand for Tektronix and Sensing Technologies’ solutions is likely to have remained an overhang on the Precision Technologies segment’s performance. Global macro weakness, coupled with a leveraged balance sheet, is an added concern.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Fortive this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Fortive has an Earnings ESP of +0.36% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
Here are some other stocks you may consider, as our model shows that these, too, have the right combination of elements to beat on earnings this reporting cycle.
PM is scheduled to report quarterly earnings on Jul 23. The Zacks Consensus Estimate for EPS and revenues is pegged at $1.55 and $9.13 billion, respectively. Shares of PM have gained 9.7% in the past year.
NextEra Energy Partners, LP (NEP - Free Report) has an Earnings ESP of +8.11% and a Zacks Rank #2. NEP is scheduled to report second-quarter earnings on Jul 24.
The Zacks Consensus Estimate for EPS and revenues is pegged at 59 cents and $367 million, respectively. Shares of NEP have lost 54.7% in the past year.
Packaging Corporation of America (PKG - Free Report) has an Earnings ESP of +0.13% and a Zacks Rank #2 at present. PKG is set to report second-quarter results on Jul 23.
The Zacks Consensus Estimate for EPS and revenues is pegged at $2.11 and $2.03 billion, respectively. Shares of PKG have surged 37.9% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Here's How Fortive (FTV) Is Placed Ahead of Q2 Earnings
Fortive Corporation (FTV - Free Report) is scheduled to release second-quarter 2024 results on Jul 24.
Management expects total revenues to be in the range of $1.55-$1.575 billion. The Zacks Consensus Estimate for revenues is currently pegged at $1.56 billion, suggesting an increase of 2.3% from the prior-year quarter's level.
Non-GAAP earnings per share (EPS) is forecasted to be in the range of 90-93 cents. The Zacks Consensus Estimate is pegged at 92 cents, indicating an increase of 8.2% from the prior-year quarter’s reported figure.
The company has a trailing four-quarter earnings surprise of 3.6%, on average. Shares of Fortive have risen 2.1% in the past year compared with the sub-industry’s growth of 7.3%.
Image Source: Zacks Investment Research
Factors to Note
The top-line performance is likely to have benefited from solid customer demand across most geographies and continued strength in software and other recurring revenue businesses. Focus on improving the Fortive Business System to drive innovation is another tailwind.
Frequent product launches and synergies from strategic acquisitions are expected to have aided in its top-line expansion.
Fortive's Intelligent Operating Solutions segment’s performance is likely to have been driven by steady demand, coupled with new logo software and recurring bookings growth. Steady growth at Fluke, owing to customer adoption in key growth verticals, is anticipated to have cushioned segmental revenues.
Momentum in power, food & beverages, and aerospace and defense markets is likely to have driven revenues for the Precision Technologies segment.
The Advanced Healthcare Solutions business is anticipated to have been gaining from recovery in the consumables sector, new logos activity and higher SaaS solutions uptake.
Fortive Corporation Price and EPS Surprise
Fortive Corporation price-eps-surprise | Fortive Corporation Quote
The Zacks Consensus Estimate for Intelligent Operating Solutions, Precision Technologies and Advanced Healthcare Solutions' revenues is pegged at $678 million, $564 million and $320 million, respectively.
Normalizing demand for Tektronix and Sensing Technologies’ solutions is likely to have remained an overhang on the Precision Technologies segment’s performance. Global macro weakness, coupled with a leveraged balance sheet, is an added concern.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Fortive this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Fortive has an Earnings ESP of +0.36% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
Here are some other stocks you may consider, as our model shows that these, too, have the right combination of elements to beat on earnings this reporting cycle.
Philip Morris International Inc. (PM - Free Report) has an Earnings ESP of +1.42% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
PM is scheduled to report quarterly earnings on Jul 23. The Zacks Consensus Estimate for EPS and revenues is pegged at $1.55 and $9.13 billion, respectively. Shares of PM have gained 9.7% in the past year.
NextEra Energy Partners, LP (NEP - Free Report) has an Earnings ESP of +8.11% and a Zacks Rank #2. NEP is scheduled to report second-quarter earnings on Jul 24.
The Zacks Consensus Estimate for EPS and revenues is pegged at 59 cents and $367 million, respectively. Shares of NEP have lost 54.7% in the past year.
Packaging Corporation of America (PKG - Free Report) has an Earnings ESP of +0.13% and a Zacks Rank #2 at present. PKG is set to report second-quarter results on Jul 23.
The Zacks Consensus Estimate for EPS and revenues is pegged at $2.11 and $2.03 billion, respectively. Shares of PKG have surged 37.9% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.