Fortive Announces Preliminary Expected Financial Results for the Fiscal Third Quarter Of 2020

Fortive Corporation (“Fortive”) (NYSE: FTV) today announced that, based on preliminary financial information, the company currently expects total revenue for the fiscal third quarter of 2020 to increase by approximately 2.0% on a year-over-year basis, above the guidance provided on September 9, 2020. Total revenue for the segments is expected to be as follows:

• Professional Instrumentation total revenue is expected to increase by approximately 1.0%, versus previous guidance for a mid-single digit to low single digit year-over-year decline.
• Industrial Technologies total revenue is expected to increase by approximately 4.5%, versus previous guidance for a low single digit year-over-year increase or better.

With this revenue performance, Fortive also anticipates positive year-over-year growth in operating profit and in adjusted operating profit for the total company, and for both segments, in the third quarter 2020.

ABOUT FORTIVE

Fortive is a diversified industrial growth company comprised of Professional Instrumentation and Industrial Technologies businesses that are recognized leaders in attractive markets. Fortive’s well-known brands hold leading positions in field solutions, product realization, sensing technologies, transportation technologies, and franchise distribution. Fortive is headquartered in Everett, Washington and employs a team of more than 25,000 research and development, manufacturing, sales, distribution, service and administrative employees in more than 50 countries around the world. With a culture rooted in continuous improvement, the core of our company’s operating model is the Fortive Business System. For more information please visit: www.fortive.com.

PRELIMINARY FINANCIAL INFORMATION

Although the preliminary revenue and operating profit estimates presented above have been prepared in good faith on a consistent basis with prior periods, these preliminary estimates are based solely upon information available to management as of the date of this press release. Fortive has not completed its financial closing procedures for the three months ended September 25, 2020, and its actual results could vary materially from these preliminary estimates. In addition, Fortive’s independent registered public accounting firm has not audited or reviewed this information or completed its review procedures for the fiscal quarter ended September 25, 2020 and does not express an opinion or any other form of assurance with respect to these preliminary estimates. During the course of the preparation of Fortive’s consolidated financial statements and related notes as of and for the three months ended September 25, 2020, Fortive and its auditors may identify items that would require Fortive to make material adjustments to the preliminary estimates presented above. As a result, investors should exercise caution in relying on this information and should not draw any inferences from this information regarding financial or operating data not provided. This preliminary revenue estimate should not be viewed as a substitute for full financial statements prepared in accordance with GAAP. In addition, these preliminary estimates are not necessarily indicative of the results to be achieved in any future period. Investors are cautioned not to place undue reliance on such preliminary estimates. Investors should read Fortive’s unaudited consolidated financial statements for the three months ended September 25, 2020 once they become available.