Fortive Corp

FTV: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$14.00	Yjtnf	Hfwqzhss

Fortive Earnings: Solid Growth Despite Lower Core Revenue in Precision Technologies

Krzysztof Smalec

Apr 24, 2024

Narrow-moat-rated Fortive reported solid first-quarter results, as its adjusted EPS of $0.83 came in above management’s guidance range of $0.77-$0.80. Management raised the midpoint of its full-year 2024 outlook and now expects adjusted EPS of $3.77-$3.86, up from $3.73-$3.85 previously. We’ve made some puts and takes in our model, but our $88 fair value estimate is unchanged. We see the name as modestly undervalued, with shares now trading in 4-star territory.

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