Industrial technology company Fortive (NYSE: FTV) will be announcing earnings results this Wednesday morning. Here’s what you need to know.
Fortive beat analysts’ revenue expectations last quarter, reporting revenues of $1.10 billion, up 7.9% year on year. It was a strong quarter for the company, with a decent beat of analysts’ EBITDA estimates and a beat of analysts’ EPS estimates.
Is Fortive a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Fortive’s revenue to grow 4.4% year on year, improving from the 2.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Fortive has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Fortive’s peers in the industrial machinery segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Snap-on posted flat year-on-year revenue, missing analysts’ expectations by 3.8%, and Gorman-Rupp reported revenues up 11.8%, topping estimates by 6.4%. Snap-on traded down 3.2% following the results while Gorman-Rupp was up 6.9%.
Read our full analysis of Snap-on’s results here and Gorman-Rupp’s results here.
Over the last year or so, investors' attention has moved from one major market theme to the next, spanning AI disruption and surging infrastructure investment to geopolitical tensions, interest rates, and the health of the broader economy. While some of the industrial machinery stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 4.2% on average over the last month. Fortive is up 9% during the same time and is heading into earnings with an average analyst price target of $62.79 (compared to the current share price of $60.78).
ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all.
Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.
