Fortive Corp (FTV) Q1 2023 Earnings Call Transcript

Fortive Corp (NYSE:FTV) Q1 2023 Earnings Conference Call April 26, 2023 12:00 PM ET

Company Participants

Elena Rosman - VP, IR

James Lico - President, CEO & Director

Charles McLaughlin - SVP & CFO

Conference Call Participants

Julian Mitchell - Barclays Bank

Jeffrey Sprague - Vertical Research Partners

Charles Tusa - JPMorgan Chase & Co.

Scott Davis - Melius Research

Andrew Obin - Bank of America Merrill Lynch

Andrew Kaplowitz - Citigroup

Deane Dray - RBC Capital Markets

Nigel Coe - Wolfe Research

Joseph Giordano - TD Cowen

Joshua Pokrzywinski - Morgan Stanley

Operator

Thank you for standing by. My name is Brent, and I will be your conference facilitator this afternoon. At this time, I would like to welcome everyone to Fortive Corporation's First Quarter 2023 Earnings Results Conference Call. [Operator Instructions].

I would now like to turn the call over to Ms. Elena Rosman, Vice President of our Investor Relations. Ms. Rosman, you may begin your conference.

Elena Rosman

Thank you, Brent, and thank you, everyone, for joining us on today's call. With us today are Jim Lico, our President and Chief Executive Officer; and Chuck McLaughlin, our Senior Vice President and Chief Financial Officer. We present certain non-GAAP measures on today's call. Information required by Regulation G are available on the Investors section of our website at www.fortive.com. Our statements on period-to-period increases or decreases refer to year-over-year comparisons on a continuing operations basis. During the call, we will make forward-looking statements, including statements regarding events or developments that we expect or anticipate will or may occur in the future.

These forward-looking statements are subject to a number of risks and actual results might differ materially from any forward-looking statements that we make today. Information regarding these risk factors is available in our SEC filings, including our annual report on Form 10-K for the year ended December 31, 2022. These forward-looking statements speak only as of the date they are made, and we do not assume any obligation to update any forward-looking statements.

With that, I'd like to turn the call over to Jim Lico.

James Lico

Thanks, Elena. Hello, everyone, and thank you for joining us. I'll begin on Slide 3. We had a strong start to the year, delivering better-than-expected revenues, margins and earnings in the first quarter. At 9% core growth, we're demonstrating strong execution of our strategy, building leading positions across our customers' critical connected workflows. Our ability to deliver strong growth and continued margin expansion is directly tied to our culture of continuous improvement and dedication to the Fortive Business System.