Archive photo: Former Fluke building, Netherlands. Alex P. Kok, CC BY-SA 4.0 (cropped)
Fortive raised its full-year adjusted earnings forecast Wednesday after third-quarter revenue and profit increased, with growth in its industrial technology business offsetting weaker operating profit in its healthcare segment.
The Everett, Washington-based company reported revenue of $1.108 billion, up 7.8% from a year earlier, and GAAP net earnings of $173 million, up 47.4%, in its third-quarter results filing. Diluted earnings per share rose to $0.57 from $0.35.
Fortive now expects full-year adjusted diluted earnings per share of $3.10 to $3.14. That is management’s forecast, not a result already achieved. The company said the midpoint represents about 15% growth from last year.
Industrial growth leads, healthcare profit falls
Intelligent Operating Solutions revenue rose 9.8% to $767 million. GAAP operating profit increased 23.6% to $223 million, and the segment’s operating margin reached 29.1%, compared with 25.9% a year earlier.
Advanced Healthcare Solutions revenue grew 3.7% to $340 million, but its GAAP operating profit fell 10.1% to $38 million. Operating margin declined to 11.2% from 12.9%. The segment’s adjusted EBITDA fell 4.8% to $88 million.
Fortive’s portfolio includes test-and-measurement business Fluke, along with industrial software, safety and healthcare businesses. The company reports its former Precision Technologies business, separated as Ralliant in June 2025, as discontinued operations. The quarterly figures above refer to continuing operations.
Buybacks and cash flow
Fortive said it spent about $300 million repurchasing roughly 5 million shares during the quarter. It reported GAAP operating cash flow of $313 million, up from $295 million, and free cash flow of $284 million, compared with $266 million a year earlier.
Adjusted diluted earnings per share were $0.77, up from $0.68, while adjusted EBITDA increased 9.5% to $339 million. Core revenue growth was 7.2%.
Adjusted earnings, adjusted EBITDA, free cash flow and core revenue growth are non-GAAP measures. Fortive provides reconciliations in its filing and says these measures should be read alongside, rather than replace, GAAP results. Its outlook remains subject to risks including economic conditions, trade policies, supply constraints and execution of its strategy.
JBizNews Desk | Everett, Washington
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