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Earnings Call Summary | Fortive(FTV.US) Q1 2024 Earnings Conference

moomoo AI ·  Apr 24 21:43  · Conference Call

The following is a summary of the Fortive Corporation (FTV) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Fortive reported a total revenue growth of 4% in Q1 2024, with adjusted earnings per share up 11% year-over-year.

  • Free cash flow increased by 54% to $230 million, with predicted trailing 12 month free cash flow of $1.33 billion.

  • The company has projected a core growth of 2-4% for the year and total growth of around 4.5-6%.

  • Revenue from EA was about $35 million, offset by a $5 million tax.

Business Progress:

  • The company depicted strong positions in its portfolio with the launch of novel products and has achieved a 5% IOS core growth.

  • Advanced Healthcare Solutions saw a Q1 core growth of 6% and adjusted operating margins expanding by 200 points to 24.2%.

  • Positive customer feedback was received for EA's product and technology and strong growth in Annual Recurring Revenue was reported.

  • The company is making investments in artificial intelligence, particularly on the chip build-out and has started to grow revenues in tech, despite predictions of a decrease in Q2.

More details: Fortive IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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