Feb 4 (Reuters) – Industrial products maker Fortive on Wednesday forecast fiscal 2026 profit above Wall Street estimates, helped by resilient demand at its industrial automation unit.
Shares of the Everett, Washington-based company rose 3% in premarket trading following the results.
A growing number of businesses investing heavily into optimizing their industrial operations have fueled the demand for building technology, benefiting companies such as Fortive.
The company expects annual adjusted earnings in the range of $2.90 to $3 per share, above analysts’ average estimate of $2.84 per share, according to data compiled by LSEG.
Revenue at its intelligent operating solutions segment, which makes industrial measurement equipment and software-enabled automation used in various industries, grew about 5.3% in the fourth quarter from a year ago.
Fortive reported adjusted profit of 90 cents per share for the quarter ended December 31, compared with 80 cents a year ago. Analysts on average were expecting 84 cents per share.
Its quarterly sales rose about 4.6% to $1.12 billion from a year earlier.
(Reporting by Anshuman Tripathy in Bengaluru; Editing by Shreya Biswas)
