FTV Q3 2018 Earnings Report — Fortive Corporation Revenue & Financial Results | Market Cap Arena

Fortive CorporationFTV

Q3 2018 Earnings

Reported October 25, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2018	Q2 2018	Q3 2017	QoQ Change	YoY Change
Revenue	$1.6B	$1.6B	$1.7B	-0.0%	-5.0%
Op. Income	$282M	$324M	$356M	-13.2%	-20.9%
Gross Margin	51.6%	51.9%	49.8%	-0.3pp	1.8pp
Net Margin	15.3%	18.4%	15.9%	-3.1pp	-0.6pp
EPS (Diluted)	$0.64	$0.83	$0.76	-22.9%	-15.8%
Free Cash Flow	$352M	$315M	$287M	11.9%	22.6%

Revenue Flow

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$775M
GROSS PROFIT	$826M
R&D Expenses	$104M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$441M
Other Expenses	$0
Operating Expenses	$544M
Cost & Expenses	$1.3B
OPERATING INCOME	$282M
Interest Income	$0
Interest Expense	$23M
Other Income/Expenses	-$24M
INCOME BEFORE TAX	$258M
Income Tax Expense	$44M
Net Income from Continuing Ops	$214M
Net Income from Discontinued Ops	$31M
Other Adjustments	$0
NET INCOME	$245M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$228M
D&A	$62M
EBIT	$281M
EBITDA	$343M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$775M
GROSS PROFIT	$826M
R&D Expenses	$104M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$441M
Other Expenses	$0
Operating Expenses	$544M
Cost & Expenses	$1.3B
OPERATING INCOME	$282M
Interest Income	$0
Interest Expense	$23M
Other Income/Expenses	-$24M
INCOME BEFORE TAX	$258M
Income Tax Expense	$44M
Net Income from Continuing Ops	$214M
Net Income from Discontinued Ops	$31M
Other Adjustments	$0
NET INCOME	$245M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$228M
D&A	$62M
EBIT	$281M
EBITDA	$343M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$245M
Depreciation & Amortization	$67M
Stock-Based Compensation	$14M
Deferred Income Tax	$0
Other Non-Cash Items	$30M
Change in Working Capital	$61M
OPERATING CASH FLOW	$387M
Capital Expenditure	-$35M
Acquisitions (Net)	-$2.8B
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$200.0K
NET CASH FROM INVESTING	-$2.9B
Net Debt Issuance	$1.3B
Common Stock Repurchased	$0
Common Dividends Paid	-$25M
Other Financing Activities	$11M
NET CASH FROM FINANCING	$1.3B
FREE CASH FLOW	$352M
Net Change in Cash	-$1.2B

Balance Sheet

Item	Amount
Cash & Equivalents	$1.1B
Short-Term Investments	$0
Net Receivables	$1.3B
Inventory	$649M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.4B
PP&E (Net)	$682M
Goodwill	$6.7B
Intangible Assets	$2.5B
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$523M
TOTAL NON-CURRENT ASSETS	$10.4B
TOTAL ASSETS	$13.9B
Account Payables	$759M
Short-Term Debt	$1.8B
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$3.5B
Long-Term Debt	$3.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.4B
TOTAL NON-CURRENT LIABILITIES	$4.5B
TOTAL LIABILITIES	$8.0B
Common Stock	$4M
Additional Paid-In Capital	$3.9B
Retained Earnings	$2.1B
Treasury Stock	$0
Accum. Other Comp. Income	-$93M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.8B
Minority Interest	$19M
TOTAL EQUITY	$5.8B
TOTAL LIABILITIES & EQUITY	$13.9B
Total Debt	$5.0B
Net Debt	$3.9B