Fortive: Q1 Earnings Snapshot

EVERETT, Wash. (AP) — EVERETT, Wash. (AP) — Fortive Corp. (FTV) on Wednesday reported first-quarter net income of $207.4 million.

On a per-share basis, the Everett, Washington-based company said it had net income of 58 cents. Earnings, adjusted for one-time gains and costs, were 83 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.

The industrial conglomerate posted revenue of $1.52 billion in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $1.53 billion.

For the current quarter ending in June, Fortive expects its per-share earnings to range from 90 cents to 93 cents.

The company said it expects revenue in the range of $1.6 billion for the fiscal second quarter.

Fortive expects full-year earnings in the range of $3.77 to $3.86 per share, with revenue ranging from $6.35 billion to $6.43 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