Fortive Corporation (NYSE:FTV) Q2 2024 Earnings Conference Call July 24, 2024 12:00 PM ET

Company Participants

Elena Rosman - Vice President of Investor Relations
James Lico - President and Chief Executive Officer
Charles McLaughlin - Chief Financial Officer

Conference Call Participants

Scott Davis - Melius Research LLC
Julian Mitchell - Barclays Investment Bank
Nigel Coe - Wolfe Research, LLC
Stephen Tusa - JPMorgan Chase & Co.
Jeffrey Sprague - Vertical Research Partners
Deane Dray - RBC Capital Markets
Joseph Giordano - TD Cowen
Jamie Cook - Truist Securities
Robert Mason - Robert W. Baird & Co.
Andrew Kaplowitz - Citigroup Inc.
Joseph O’Dea - Wells Fargo Securities LLC

Operator

Greetings, and welcome to the Fortive Corporation’s Second Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Elena Rosman, Vice President, Investor Relations. Thank you. You may begin.

Elena Rosman

Thank you, Diego, 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 financial measures on today’s call. Information required by Regulation G is available on the Investors Section of our website at fortive.com. Our statements on period-to-period increases or decreases refer to year-over-year comparisons unless otherwise specified.

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 statement 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, 2023. These forward-looking statements speak only as of the day that 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.

James Lico

Thanks, Elena. Hello, everyone. Thank you for joining us. I’ll begin on Slide 3. Our second quarter results showcase strong execution across our businesses, allowing us to deliver earnings and free cash flow at the high end of our guidance with 90 basis points of adjusted operating margin expansion and 9% adjusted earnings growth, despite revenue at the low end of our guidance.