Industrial technology company Fortive (NYSE:FTV) will be reporting earnings this Wednesday before market open. Here’s what investors should know.
Fortive missed analysts’ revenue expectations by 33.6% last quarter, reporting revenues of $993.1 million, flat year on year. It was a slower quarter for the company, with a significant miss of analysts’ EBITDA estimates and EPS guidance for next quarter missing analysts’ expectations significantly.
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 be flat year on year at $1.01 billion, slowing from the 3.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.59 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 industrial machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Snap-on posted flat year-on-year revenue, beating analysts’ expectations by 2.1%, and GE Aerospace reported revenues up 21.2%, topping estimates by 15.6%. Snap-on traded up 7.4% following the results while GE Aerospace was down 1.1%.
Read our full analysis of Snap-on’s results here and GE Aerospace’s results here.
There has been positive sentiment among investors in the industrial machinery segment, with share prices up 6.5% on average over the last month. Fortive is down 1.7% during the same time and is heading into earnings with an average analyst price target of $65.85 (compared to the current share price of $51.26).
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