Fortive Corporation · NYSE:FTV
Fortive — Q1 2018 Earnings Presentation
10 slides from Fortive's earnings presentation, Apr 26, 2018
Slide 1: First Quarter 2018 Earnings Release
First Quarter 2018 Earnings Release April 26, 2018 1
Slide 2: Forward-Looking Statements & Non-GAAP Financial Measures
FORWARD-LOOKING STATEMENTS & NON-GAAP FINANCIAL MEASURES Statements in this presentation that are not strictly historical, statements regarding the Company's anticipated earnings, business and acquisition opportunities, anticipated revenue growth, anticipated operating margin expansion, anticipated
Slide 3: Performance Summary
PERFORMANCE SUMMARY NON-GAAP ADJUSTED DILUTED REVENUE NET EARNINGS PER SHARE +13.4% Core +2.6% +30.0% Acquisitions +7.3% FX +3.5% $0.78 $1,740.7 $0.60 $1,535.2 Q1 2017 Q1 2018 Q1 2017 Q1 2018 3
Slide 4: Performance Summary
PERFORMANCE SUMMARY OPERATING MARGIN GROSS MARGINS +10 bps Q1 2017 – 48.5% Core +100 bps +150 bps Acquisitions -90 bps Q1 2018 – 50.0% SG&A (as a % of Revenue) Q1 2017 – 22.9% +140 bps Q1 2018 – 24.3% 19.3% 19.4% R&D (as a % of Revenue) Q1 2017 – 6.3% Flat Q1 2017 Q1 2018 Q1 2018 – 6.3% 4
Slide 5: Performance Summary
PERFORMANCE SUMMARY Three Months Ended ($M) March 31, 2017 March 30, 2018 Operating Cash Flow $148 $171 Cap Ex 27 31 FREE CASH FLOW $121 $140 Net Earnings (GAAP) $200 $261 Estimated Provisional Tax Reform Adjustments (GAAP) — 4 Net Earnings Excluding the Estimated Provisional Tax Reform $200 $257 Ad
Slide 6: Professional Instrumentation
PROFESSIONAL INSTRUMENTATION REVENUE OPERATING MARGIN +21.7% +160 bps Core +5.5% Core +310 bps Acquisitions +12.2% Acquisitions -150 bps FX +4.0% $871.7 23.7% 22.1% $716.1 Q1 2017 Q1 2018 Q1 2017 Q1 2018 Field Solutions* Product Realization* Sensing Technologies * Part of Advanced Instrumentation an
Slide 7: Industrial Technologies
INDUSTRIAL TECHNOLOGIES REVENUE OPERATING MARGIN +6.1% -50 bps Core 0.0% Core +20 bps Acquisitions +3.0% Acquisitions -70 bps FX +3.1% $869.0 18.7% 18.2% $819.1 Q1 2017 Q1 2018 Q1 2017 Q1 2018 Transportation Technologies Automation & Specialty Components Franchise Distribution 7
Slide 8: Guidance
2018 OUTLOOK @ FORTIVE GUIDANCE
Slide 9: Q&A
2018 OUTLOOK @ FORTIVE Q&A
Slide 10: Fortive
(2) FORTIVE