Industrial technology company Fortive (NYSE: FTV) will be reporting earnings this Thursday before market hours. Here’s what you need to know.
Fortive beat analysts’ revenue expectations last quarter, reporting revenues of $1.12 billion, up 4.6% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates and full-year EPS guidance exceeding analysts’ expectations.
Is Fortive a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Fortive’s revenue to grow 5.2% year on year, improving from its flat revenue in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Fortive has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Fortive’s peers in the industrial machinery segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Snap-on delivered year-on-year revenue growth of 5.2%, beating analysts’ expectations by 2.4%, and Hillman reported revenues up 3%, falling short of estimates by 0.7%. Snap-on traded down 1% following the results while Hillman was also down 5.2%.
Read our full analysis of Snap-on’s results here and Hillman’s results here.
There has been positive sentiment among investors in the industrial machinery segment, with share prices up 14.1% on average over the last month. Fortive is up 15.2% during the same time and is heading into earnings with an average analyst price target of $62.27 (compared to the current share price of $61.77).
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