Fortive Corporation beats Q3 revenue on innovation investments, raises FY outlook

Overview

• US industrial technology firm's Q3 revenue rose 7.8%, beating analyst expectations

• Adjusted diluted EPS for Q3 rose 13% and beat analyst expectations

• Company completed ~$300 mln in share repurchases during Q3

Outlook

• Fortive raises FY 2026 adjusted EPS guidance to $3.10-$3.14

• Company says guidance reflects strong year-to-date performance and confidence in business trajectory

• Fortive remains confident in delivering on its medium-term financial framework

Result Drivers

• INNOVATION INVESTMENTS - Co said investments in innovation acceleration contributed to faster revenue growth

• COMMERCIAL ACCELERATION - Co attributed improved results to commercial acceleration initiatives

• RECURRING CUSTOMER VALUE - Co said focus on recurring customer value helped drive Q3 performance

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 12 "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the industrial machinery & equipment peer group is "buy."

• Wall Street's median 12-month price target for Fortive Corporation is $63.00, about 2.2% above its October 27 closing price of $61.62

• The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 20 three months ago

Reuters Recommended Reads

• Oct 27 - Illinois Tool Works Inc beats Q3 EPS estimates, raises 2026 outlook

• Oct 27 - Hubbell Inc beats Q3 revenue on Electrical Solutions growth, raises FY outlook

• Oct 28 - IDEX Q3 sales beat on increased volumes

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)