Industrial technology company Fortive (NYSE:FTV) will be reporting results tomorrow before market hours. Here’s what to expect.
Fortive missed analysts’ revenue expectations by 1% last quarter, reporting revenues of $1.53 billion, up 2.7% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ adjusted operating income estimates but a miss of analysts’ organic revenue estimates.
Is Fortive a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Fortive’s revenue to grow 2.8% year on year to $1.63 billion, in line with the 3.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.12 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Fortive’s peers in the professional tools and equipment segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Snap-on’s revenues decreased 7.4% year on year, missing analysts’ expectations by 7.8%, and Kennametal reported a revenue decline of 2.7%, falling short of estimates by 1%.
Read our full analysis of Snap-on’s results here and Kennametal’s results here.
There has been positive sentiment among investors in the professional tools and equipment segment, with share prices up 2.8% on average over the last month. Fortive is up 4.3% during the same time and is heading into earnings with an average analyst price target of $89.11 (compared to the current share price of $80.10).
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