Fortive: 3Q Earnings Snapshot
EVERETT, Wash. (AP) _ Fortive Corp. (FTV) on Thursday reported third-quarter net income of $245.3 million.
The Everett, Washington-based company said it had profit of 64 cents per share. Earnings, adjusted for one-time gains and costs, were 86 cents per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.
The industrial conglomerate posted revenue of $1.84 billion in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $1.86 billion.
For the current quarter ending in December, Fortive expects its per-share earnings to range from 83 cents to 87 cents.
The company expects full-year earnings in the range of $2.98 to $3.02 per share.
Fortive shares have risen 5.5 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $76.36, a rise of slightly more than 5 percent in the last 12 months.