Stock Monitor: MTS Systems Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 18, 2018 / If you want access to our free earnings report on Fortive Corp. (NYSE: FTV), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=FTV. Fortive reported its financial results for first quarter fiscal year 2018 (Q1 FY18) on April 26, 2018. The diversified industrial conglomerate surpassed market estimates for revenue and earnings for the first quarter of fiscal year 2018. Additionally, the Company provided its earning guidance for second quarter 2018 and fiscal year 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for MTS Systems Corporation (NASDAQ: MTSC), which also belongs to the Technology sector as the Company Fortive. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Fortive most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
Fortive's total revenue increased 13.4% to $1.74 billion in Q1 FY18 compared to $1.54 billion in Q1 FY17. The Company's revenue in the reported quarter exceeded market estimates of $1.71 billion.
During Q1 FY18, the Company reported a 17% increase in gross profit to $870.8 million compared to $744.0 million in year ago same quarter.
For first quarter 2018, Fortive incurred total operating cost of $532.6 million compared to $448.4 million in Q1 FY17. The Company's total operating cost included $423.7 as selling, general, and administrative expenses (SG&A) and $108.9 million as research & development expenses (R&D) in Q1 FY18 compared to $352.2 and $96.2 million respectively in Q1 FY17.
Fortive's operating profit grew by 14% to $338.2 million in the reported quarter compared to $295.6 million in prior year's same period. Moreover, the Company's earnings before interest and tax (EBIT) increased to $312.9 million in Q1 FY18 versus $272.3 million in Q1 FY17.
For Q1 FY18, the Company's net income increased 31% to $261.2 million compared to $199.7 million in Q1 FY17.
Fortive's earnings per share increased 30% to $0.74 in Q1 FY18 compared to $0.57 per share in Q1 FY17. The Company's adjusted earnings per share were $0.78 for the reported quarter which surpassed market estimates of $0.74 per share.
Fortive's Segments Details
Fortive operates through two strategic segments: (i) Professional Instrumentation; and (ii) Industrial Technologies.
The Professional Instrumentation segment generated total revenue of $871.7 million in the reported quarter compared to $716.1 million in year ago corresponding quarter, reflecting a growth 22% on a y-o-y basis. The segment's operating profit increased 30% to $206.4 million in Q1 FY18 compared to $158.5 million in Q1 FY17.
During Q1 FY18, revenue from Industrial Technologies line increased 6% to $869.0 million compared to $819.1 million in Q1 FY17. The segment's operating income increased to $158.3 million in the reported quarter versus $152.8 million in prior year's comparable period.
As of March 31, 2018, Fortive's cash and cash equivalents stood at $1.0 billion compared to $817.6 million as of March 31, 2017.
The Company's had $4.0 billion as long-term debt in Q1 FY18 versus $4.1 billion in Q1 FY17.
Fortive's net cash inflow from operating activities in the reported quarter was $171.0 million compared to $148.3 million in year-ago same quarter.
Fortive generated $140 million of free cash flow in the first quarter 2018 compared to $121 million in first quarter 2017.
For Q2 FY18, Fortive expects earnings per share to be in range of $0.80 to $0.84 and adjusted earnings per share to be in band of $0.86 to $0.90. Additionally, for fiscal year 2018, the Company anticipates earnings per share to be in the range of $3.18 to $3.28 and adjusted earnings per share to be in the range of $3.40 to $3.50.
Stock Performance Snapshot
May 17, 2018 - At Thursday's closing bell, Fortive's stock marginally advanced 0.74%, ending the trading session at $77.35.
Volume traded for the day: 1.09 million shares.
Stock performance in the last month – up 0.27%; previous three-month period – up 3.02%; past twelve-month period – up 26.39%; and year-to-date – up 6.91%
After yesterday's close, Fortive's market cap was at $26.82 billion.
Price to Earnings (P/E) ratio was at 26.38.
The stock has a dividend yield of 0.36%.
The stock is part of the Technology sector, categorized under the Scientific & Technical Instruments industry.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.