Fortive's Mixed Q2 Bag: Slight Revenue Miss Coupled with Tightened Full-Year Forecasts
Portfolio Pulse from Lekha Gupta
Fortive Corporation (NYSE:FTV) reported mixed Q2 FY24 results with a slight revenue miss but tightened full-year forecasts. Revenue grew 2% Y/Y to $1.55 billion, missing the consensus of $1.57 billion. Adjusted EPS of $0.93 beat the consensus of $0.92. The company lowered its FY24 revenue forecast and tightened its adjusted EPS outlook. FTV shares are down 6.53%. Investors can gain exposure via Themes Natural Monopoly ETF (NASDAQ:CZAR) and Pacer US Cash Cows Growth ETF (NYSE:BUL).
July 24, 2024 | 2:58 pm
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NEGATIVE IMPACT
Pacer US Cash Cows Growth ETF (NYSE:BUL) provides exposure to Fortive Corporation, which reported mixed Q2 FY24 results. FTV shares are down 6.53% following the earnings report.
As BUL holds Fortive Corporation, the negative impact on FTV's stock price is likely to affect BUL's performance in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Themes Natural Monopoly ETF (NASDAQ:CZAR) provides exposure to Fortive Corporation, which reported mixed Q2 FY24 results. FTV shares are down 6.53% following the earnings report.
As CZAR holds Fortive Corporation, the negative impact on FTV's stock price is likely to affect CZAR's performance in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Fortive Corporation reported mixed Q2 FY24 results with a slight revenue miss and tightened full-year forecasts. Revenue grew 2% Y/Y to $1.55 billion, missing the consensus of $1.57 billion. Adjusted EPS of $0.93 beat the consensus of $0.92. The company lowered its FY24 revenue forecast and tightened its adjusted EPS outlook. FTV shares are down 6.53%.
The slight revenue miss and lowered FY24 revenue forecast are likely to negatively impact investor sentiment in the short term, leading to a decline in FTV's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100