雅虎香港財經 Factors to Note Ahead of Fortive's (FTV) Q1 Earnings Release
Fortive Corporation FTV is scheduled to release first-quarter 2024 results on Apr 24.
For the first quarter, management expects total revenues in the range of $1.515-$1.540 billion. The Zacks Consensus Estimate is currently pegged at $1.53 billion, suggesting an increase of 4.5% from a year ago.
Non-GAAP earnings per share (EPS) are forecast in the range of 77-80 cents. The Zacks Consensus Estimate is pegged at 79 cents, indicating an increase of 5.3% from the prior-year quarter’s reported figure.
Fortive Corporation Price and EPS Surprise
Fortive Corporation price-eps-surprise | Fortive Corporation Quote
The company has a trailing four-quarter earnings surprise of 2.98%, on average. Shares of Fortive have rallied 20.9% in the past year compared with the sub-industry’s growth of 11%.
Image Source: Zacks Investment Research
Factors to Note
The top-line performance is likely to have benefited from solid customer demand across most geographies and continued strength in software and other recurring revenue businesses. Focus on improving the Fortive Business System to drive innovation is another tailwind.
Frequent product launches and synergies from strategic acquisitions are pivotal in driving top-line growth. Management had earlier highlighted that the company witnessed a 33% increase in revenue attainment on new product launches in 2023.
Fortive's Intelligent Operating Solutions segment’s performance is likely to have been driven by steady demand coupled with new logo software and recurring bookings growth. Momentum in power, food & beverages, and aerospace and defense markets is likely to have driven revenues for the Precision Technologies segment.
Advanced Healthcare Solutions business is gaining from price realization, new logos activity and higher SaaS solutions uptake.
The Zacks Consensus Estimate for Intelligent Operating Solutions, Precision Technologies Advanced Healthcare Solutions revenues is pegged at $655 million, $571 million and $300 million, respectively.
Industrial OEM weakness and normalizing demand trends in China are likley to remain an overhang on the Precision Technologies segment’s performance. Global macro weakness coupled with a leveraged balance sheet is an added concern.
What Our Model Says
Our proven model does not predict an earnings beat for Fortive this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Fortive has an Earnings ESP of -0.42% and carries a Zacks Rank #2 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks you may consider, as our model shows that these have the right combination of elements to beat on earnings this season.
Meta Platforms META has an Earnings ESP of +0.62% and presently carries a Zacks Rank #2. META is slated to release quarterly numbers on Apr 24. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for META’s to-be-reported quarter’s EPS and revenues is pegged at $4.32 and $36.25 billion, respectively. Shares of META have gained 135.5% in the past year.
IMAX Corporation IMAX has an Earnings ESP of +56.00% and currently carries a Zacks Rank #2. IMAX is scheduled to report quarterly earnings on Apr 25.
The Zacks Consensus Estimate for IMAX’s to-be-reported quarter’s EPS and revenues is pegged at 8 cents and $76.8 million, respectively. Shares of IMAX have lost 17.1% in the past year.
SEI Investments Company SEIC has an Earnings ESP of +2.50% and a Zacks Rank #1. SEIC is set to report quarterly figures on Apr 24.
The Zacks Consensus Estimate for SEIC’s to-be-reported quarter’s EPS and revenues is pegged at 97 cents and $505.4 million, respectively. Shares of SEIC have surged 12.5% in the past year.
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