Fortive quarterly profit falls on sluggish demand but beats estimates
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Fortive's quarterly profit fell due to sluggish demand but exceeded estimates, reporting an adjusted profit of 90 cents per share against expectations of 59 cents. The company's healthcare segment saw higher margins, and cost reductions helped offset a $4 million revenue decline to $1.02 billion. Despite challenges from tariffs and trade uncertainties, Fortive anticipates adjusted net earnings per share of $2.50 to $2.60 for the year, down from previous forecasts of $3.80 to $4.00. Shares rose nearly 2.1% in premarket trading.
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