Sector: Technology|Industry: Scientific & Technical Instruments|Market Cap: $26.33B|Employees: 18K
Fortive Corporation is a global provider of essential technologies for connected workflow solutions, operating through three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The company designs, develops, manufactures, and services professional and engineered products, software, and services, leveraging leading brand names and innovative technologies. Fortive has a significant global presence with operations in over 50 countries and a workforce of more than 18,000 employees.
Total revenue increased by 2.7% YoY, with core revenue (excluding acquisitions and currency translation) increasing by 1.1%. Acquisitions contributed 1.6% to revenue growth, indicating a reliance on M&A for top-line expansion. (See MD&A section, Results of Operations)
Operating profit margin decreased by 20 basis points to 19.3%. This decline was attributed to the net effect of various factors, including productivity gains offset by volume declines in certain business and end markets, and the impact of acquired businesses. (See MD&A section, Results of Operations)
The effective tax rate decreased from 15.2% to 4.6% for the quarter, primarily due to changes in applicable statutory tax rates. This suggests a potential one-time benefit rather than a sustainable improvement in tax efficiency. (See Note 7, Income Taxes)