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Fortive Corporation  (FTV)
 

Fortive Corporation Surpasses Expectations with Strong Financial Results in Q4 and Full Year 2023

Adjusted Net Earnings Reach $349 Million, Driving Revenue Growth and Profit Increase


Published Feb 28 2024 / Modified Feb 28 2024
CSIMarket Team / CSIMarket.com


Model2100sm_By_Goldstein_Group__[CC-BY-SA-2.0_(http_creativecommons.org_licenses_by-sa_2.0)]_via_Wikimedia_CommonFortive Corporation Reports Strong Financial Results for Q4 and Full Year 2023

Fortive Corporation, a global provider of industrial technology solutions, announced its financial results for the fourth quarter and full year 2023.
The company reported net earnings of $265 million for the fourth quarter, with adjusted net earnings standing at $349 million.
Diluted net earnings per share for the quarter were $0.75, while adjusted diluted net earnings per share were $0.98.
Revenues for the quarter showed a 4% year-over-year increase, reaching $1.58 billion.

The full-year financial results for 2023 showcased significant growth for Fortive Corporation.
Compared to the previous year,
the company's income increased by 17.12% to $0.75 per share.
Profits also experienced a remarkable rise of 23.33% from the prior quarter, reaching $0.61 per share.
The company's revenue increased moderately by 3.501% to $1.58 billion when compared to the corresponding quarter of the previous year.
Sequentially, the revenue increased by 6.058% from $1.49 billion.

Fortive Corporation highlighted its improving profit margins as well.
The net margin rose to 16.74% in the financial year 2023, and the operating margin edged up to 19.62%. A notable signal of future demand is the decline in inventories, which decreased to $536.9 million at Fortive Corporation from the previous quarter and the same period of the previous year.
Additionally, the build-up in accounts receivable indicates rising demand, with accounts receivable valued at $960.8 million, higher than the preceding quarter.

Examining the operating numbers for the fiscal year 2023, Fortive Corporation reported revenue of $6.07 billion and a bottom-line of $865.80 million.
The company also highlighted a 15.71% increase in income per share, reaching $2.43 from $2.10 in the previous fiscal year.
Furthermore, revenue experienced a growth of 4.11% from $5.83 billion compared to the previous year.

Alongside its strong financial performance, Fortive Corporation has experienced impressive stock performance.
Over the past three months, the company's stock has risen by 26.45%. Looking at the past 12 months, the stock has surged by 67.01%. This growth in stock value has propelled Fortive Corporation to reach its 52-week high.

Fortive Corporation's strong financial results for the fourth quarter and full year 2023 demonstrate its ability to navigate challenging economic conditions and capitalize on market opportunities.
With improving profit margins, declining inventories, and rising demand, the company appears well-positioned for continued success in the industrial technology sector.
Additionally, its impressive stock performance attests to investor confidence in Fortive Corporation's future prospects.



Fortive's Free Cash Flow Margin

Fortive's Capital Expenditures Growth



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