Fortive Corporation (FTV) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thirdly, to add to that base thesis, I saw the personal opportunity to drive big impact and bend the returns curve up and to the right using levers that are largely in the CFO's hands. I was compelled by the opportunity to work alongside Jim for a few months and then with Illuminae to find creative ways over the long term to accelerate organic growth across the business while maintaining the financial discipline that Fortiv has come to be known for. And during my diligence work prior to joining, I also saw some real opportunities to unlock value in how we allocate the precious capital entrusted to us by our shareholders and how we work with our investor base. It's been just over a month, and though it's early days, my thesis on Fortive remains well intact. I'm looking forward to meeting many of you in the coming weeks and months as I get out on the road and at our investor day in New York on June the 10th. With that, I'll turn it back to Jim. Thanks, Mark. With that, let's take a closer look at our first quarter results on slide four. Core revenue declined 2% in the quarter, slightly below our expectations. FX was a modest headwind, resulting in total revenue down 3%. Intelligent operating solutions and advanced healthcare solutions came in as expected, with core growth up 2.2%, which was more than offset by an 8.4% core decline in precision technology. While trade and macro uncertainty is delaying the recovery in PT, we had overall orders growth with continued strength in secular growth markets. We delivered adjusted operating profit of $373 million and adjusted operating margin expansion of 20 basis points, led by performance in iOS, including accretive software growth and the benefits of our productivity action. Adjusted EPS grew 2% year-over-year to 85 cents. up ...