Fortive, a leading provider of services to healthcare facilities and manufacturers, has made adjustments to its fourth-quarter targets and 2023 outlook. In an effort to provide a clearer financial projection, Fortive has narrowed its estimated ranges for full-year adjusted earnings and sales.
For the fourth quarter, Fortive is predicting a net income range of 61 to 64 cents per share, which is consistent with the same period in 2022. The company is also expecting adjusted earnings between 92 and 95 cents per share, compared to 88 cents per share in the year-earlier period. Additionally, Fortive anticipates fourth-quarter sales of approximately $1.6 billion, a slight increase from the previous year’s $1.53 billion.
Revised 2023 Profit and Earnings Targets
Looking ahead to 2023, Fortive has revised its profit and earnings targets. The company is now aiming for a profit range of $2.30 to $2.33 per share, down from the previous range of $2.38 to $2.44 per share. In terms of adjusted earnings, Fortive projects a range of $3.37 to $3.40 per share, which has been narrowed from the previous range of $3.36 to $3.42 per share.
Fortive’s revenue expectations for 2023 have also been adjusted. The company now anticipates revenue between $6.0 billion and $6.1 billion, compared to the previous estimate of approximately $6.1 billion for the year.
These adjustments demonstrate Fortive’s commitment to providing investors with accurate and transparent financial information. By refining their targets and projections, the company aims to enhance trust and confidence in their performance.