Fortive Q3: Revenue Miss, EPS Beat, Revises FY24 Guidance Amid Strategic Split Plans

Fortive Corporation (NYSE:FTV) shares are trading lower after the company reported third-quarter results.

Revenue grew 3% year-over-year to $1.54 billion, missing the consensus of $1.553 billion.

Core Growth Sales by segments: Intelligent Operating Solutions $661.2 million (+2.6% year over year), Precision Technologies $550.9 million (-0.3%), and Advanced Healthcare Solutions $322.5 million (+8.3%).

The company's adjusted operating margin is up 90 basis points Y/Y to 26.8% in the quarter. Adjusted EPS of $0.97, beating the consensus of $0.93.

The company reported an operating cash flow of $459 million and a free cash flow of $431.2 million in the quarter.

James A. Lico, President and CEO, said, ”Our ...