Fortive Shares Slip On Q4 Revenue Miss, Moderate Outlook

Fortive Corp FTV reported fourth-quarter sales growth of 3.8% year-over-year to $1.37 billion, missing the consensus of $1.44 billion.
Sales by segments: Intelligent Operating Solutions $579.8 million (+6.4% Y/Y), Precision Technologies $473.9 million (+2.1% Y/Y) and Advanced Healthcare Solutions $321.1 million (+1.7% Y/Y).
Adjusted EPS improved to $0.79 from $0.70 in 4Q20, beating the consensus of $0.78.
The gross margin expanded by 23 bps to 57.7%. The operating profit increased by 9.6% Y/Y to $201.6 million, and the margin expanded by 80 bps to 14.7%.
The adjusted operating margin for the quarter expanded by 120 bps to 24.4%.
Fortive generated cash from operating activities for FY21 of $961.1 million, compared to $1.44 billion a year ago.
1Q22 Outlook: Fortive anticipates revenue of $1.33 billion - $1.37 billion ($1.37 billion); and adjusted EPS of $0.65 - $0.69, below the consensus of $0.72.
FY22 Outlook: Fortive expects revenue of $5.73 billion - $5.88 billion (consensus $5.77 billion) and adjusted EPS of $3.00 - $3.13 (consensus $3.10).
Price Action: FTV shares traded lower by 6.58% at $66.91 on the last check Thursday.

Momentum40.60

Growth49.50

Quality37.88

Value18.46

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