Fortive: Q1 Earnings Snapshot

EVERETT, Wash. (AP) — EVERETT, Wash. (AP) — Fortive Corp. (FTV) on Wednesday reported first-quarter earnings of $173.6 million.

On a per-share basis, the Everett, Washington-based company said it had net income of 49 cents. Earnings, adjusted for one-time gains and costs, were 75 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.

The industrial conglomerate posted revenue of $1.46 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $1.42 billion.

For the current quarter ending in June, Fortive expects its per-share earnings to range from 78 cents to 82 cents.

The company said it expects revenue in the range of $1.5 billion for the fiscal second quarter.

Fortive expects full-year earnings in the range of $3.29 to $3.40 per share, with revenue ranging from $6 billion to $6.1 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FTV at https://www.zacks.com/ap/FTV

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