Fortive Sales Up 6.7% in 1QThis post was originally published on this site
Fortive Corp. (NYSE: FTV), Everett, Washington, reported sales for the first quarter ended March 29 of $1.6 billion, a 6.7% increase over the same period a year ago. Profit was $164.4 million, down from $261.2 million in the first quarter of 2018.
“Our first quarter results provided a solid start to 2019, setting us up to deliver another year of strong double-digit earnings growth,” said James A. Lico, president andCEO. “Our first quarter performance was in line with our expectations, despite pressures from tariffs, foreign exchange rates, and some near-term headwinds in Professional Instrumentation. We also generated strong free cash flow growth of 31% for the quarter, reflecting the application of the Fortive Business System and the underlying vitality of our portfolio.”
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