Fortive Corp (FTV)

Shares of Fortive (FTV) dropped by 8.04% from $70.15 to $64.60 in the trading on Wednesday, October 25, 2023. The reason why FTV stock down is due to its mixed Q3 results

• Earnings Miss: Fortive reported quarterly earnings of $0.85 per share, which fell short of the Zacks Consensus Estimate of $0.86 per share. While this was an improvement from earnings of $0.79 per share in the previous year, it represented an earnings surprise of -1.16%. In the previous quarter, Fortive had outperformed expectations with earnings of $0.85 per share, beating the estimate by 4.94%.
• Revenue Miss: The company posted quarterly revenues of $1.49 billion for the quarter ending in September 2023. However, this figure missed the Zacks Consensus Estimate by 1.40%. While it reflected growth compared to the previous year's revenues of $1.46 billion, the revenue miss raised concerns among investors.
• Industry Context: Fortive operates in the Zacks Electronics - Testing Equipment industry, and the broader industry context may have contributed to the stock's decline. The company's performance is influenced by the overall trends and challenges within this sector. The future trajectory of Fortive's stock price will depend on how management addresses these issues and provides guidance during the upcoming earnings call.