FTV · Fortive Q2 FY2026 earnings call record财报电话会记录

“On a consolidated basis, we delivered core revenue growth of 6.7%, adjusted EBITDA growth of 12%, and adjusted EPS growth of 28%.”

“This quarter, we executed a small bolt-on acquisition and deployed another roughly $200 million to share repurchases, bringing total share repurchases since our launch of New Fortive a year ago to approximately 38 million shares or 11% of shares outstanding.”

“Finally, we are raising our full-year 2026 adjusted EPS guidance to $2.95-$3.05, reflecting our solid first-half performance and our confidence in the trajectory of the business.”

“Since the spin-off, we have deployed nearly $2 billion to share repurchases, representing 38 million shares or approximately 11% of diluted shares outstanding.”

“We generated roughly $270 million of free cash flow in the second quarter, with our trailing 12-month free cash flow topping $1 billion with conversion on net income well north of 100%.”

“We are raising our full year 2026 adjusted EPS guidance range to $2.95-$3.05, reflecting solid first half performance and confidence in the trajectory of the business.”

“Given solid performance to date, we now expect full-year core growth of approximately 4%, up from our prior expectation of 2%-3%.”

“As we mentioned last quarter, this will also drive about a $15 million-$20 million headwind to reported revenue and a 150 basis point headwind to core growth in Q4.”

“It was a great quarter because the strength was really broad-based and across regions and components of what we do for customers.”

“Are you seeing any changes in how customers calibrate equipment or use the equipment that could provide more wear and tear that would require more upgrades and a higher velocity of repurchases?”

“I think we saw in the second quarter particular strength from lower margin products due to strong Customer demand.”

“As we look around at innovation just generally, we're going to innovate on products that have those similar characteristics, just strong innovation, which is in high demand from our customers and that command premium prices.”