AI English summary of an SEC filing — figures as filed
Fortive FTVThe company said its operating profit margin for Q2 was 19.4%, up 30 basis points from 19.1% in 2023. For the year-to-date period, it said its operating profit margin was 19.6%, up 180 basis points from 17.8% in 2023.
Key points
AI summaryThe company said its operating profit margin for Q2 was 19.4%, up 30 basis points from 19.1% in 2023. For the year-to-date period, it said its operating profit margin was 19.6%, up 180 basis points from 17.8% in 2023.
The company said operating profit margin for the PT segment in Q2 decreased by 350 basis points from the comparable period of 2023. It cited a 270 basis points unfavorable net effect from acquired and divested businesses and a 100 basis points unfavorable effect from net volume reductions, which offset the effect of price and productivity gains.
The company said operating cash flow for the year-to-date period was $566 million, $70 million or 14.2% higher than in 2023. It said cash used in investing activities rose by $1.74 billion over the same period, reflecting net cash paid for acquisitions of $1.72 billion.
The company said it received net proceeds of about $1.3 billion from issuing 2026 Notes and 2029 Notes on February 13, 2024, and used them to repay $1.0 billion of principal on its Delayed-Draw Term Loan due 2024. Cash used in financing activities for the year-to-date period was $15 million.
Key figures
Quarter ended June 28, 2024
- Revenue
- $1.6B
- Operating income
- $302M
- Net income
- $195M
- EPS
- $0.55
- Gross profit
- $928M
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Operating Margin 19.4% in Q2, Year-to-Date 19.6%
The company said its operating profit margin for Q2 was 19.4%, up 30 basis points from 19.1% in 2023. For the year-to-date period, it said its operating profit margin was 19.6%, up 180 basis points from 17.8% in 2023.
Source · Based on the MD&A text of the filing
PT Segment Operating Margin Down 350 basis points in Q2
The company said operating profit margin for the PT segment in Q2 decreased by 350 basis points from the comparable period of 2023. It cited a 270 basis points unfavorable net effect from acquired and divested businesses and a 100 basis points unfavorable effect from net volume reductions, which offset the effect of price and productivity gains.
Source · Based on the MD&A text of the filing
Year-to-Date Operating Cash Flow $566 million
The company said operating cash flow for the year-to-date period was $566 million, $70 million or 14.2% higher than in 2023. It said cash used in investing activities rose by $1.74 billion over the same period, reflecting net cash paid for acquisitions of $1.72 billion.
Source · Based on the MD&A text of the filing
2026 and 2029 Notes Issuance and Year-to-Date Financing Cash Flow
The company said it received net proceeds of about $1.3 billion from issuing 2026 Notes and 2029 Notes on February 13, 2024, and used them to repay $1.0 billion of principal on its Delayed-Draw Term Loan due 2024. Cash used in financing activities for the year-to-date period was $15 million.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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