Fortive: Q3 Earnings Snapshot

EVERETT, Wash. (AP) — EVERETT, Wash. (AP) — Fortive Corp. (FTV) on Wednesday reported third-quarter net income of $218 million.

On a per-share basis, the Everett, Washington-based company said it had profit of 61 cents. Earnings, adjusted for non-recurring costs, came to 85 cents per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.

The industrial conglomerate posted revenue of $1.49 billion in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $1.52 billion.

For the current quarter ending in December, Fortive expects its per-share earnings to range from 92 cents to 95 cents.

The company said it expects revenue in the range of $1.6 billion for the fiscal fourth quarter.

Fortive expects full-year earnings in the range of $3.37 to $3.40 per share, with revenue ranging from $6 billion to $6.1 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FTV at https://www.zacks.com/ap/FTV