Fortive Corporation ( FTV ) shares are trading lower after the company reported third-quarter results.

Revenue grew 3% year-over-year to $1.54 billion, missing the consensus of $1.553 billion.

Core Growth Sales by segments: Intelligent Operating Solutions $661.2 million (+2.6% year over year), Precision Technologies $550.9 million (-0.3%), and Advanced Healthcare Solutions $322.5 million (+8.3%).

The company's adjusted operating margin is up 90 basis points Y/Y to 26.8% in the quarter. Adjusted EPS of $0.97, beating the consensus of $0.93.

The company reported an operating cash flow of $459 million and a free cash flow of $431.2 million in the quarter.

James A. Lico, President and CEO, said, ”Our portfolio of high-quality businesses is delivering consistent and more profitable growth, evidenced by robust recurring revenue growth in Intelligent Operating Solutions and Advanced Healthcare Solutions. We are also pleased with the positive momentum in orders growth across all our segments, including double-digit orders growth in Precision Technologies in the third quarter.”

“Looking forward to 2025, we are poised to accelerate our strategy and ensure consistent value creation as we progress toward the separation of Fortive ( FTV ) and the PT segment, creating two focused, independent public companies, both positioned to provide greater value to all of our stakeholders.”

Outlook: For FY24, Fortive ( FTV ) lowered its revenue forecast to $6.24 billion – $6.26 billion (from $6.25 billion – $6.30 billion) versus a consensus of $6.284 billion.

The company revised the adjusted EPS outlook to $3.84 – $3.87 (from $3.80 – $3.86) versus the consensus of $3.81.

For the fourth quarter of FY24, Fortive ( FTV ) anticipates revenue of $1.63 billion – $1.65 billion (consensus: $1.656 billion) and adjusted EPS of $1.11 – $1.14 (consensus $1.13).

Investors can gain exposure to the stock via Vesper US Large Cap Short-Term Reversal Strategy ETF  and Pacer US Cash Cows Growth ETF ( BUL ) .

Price Action: FTV shares are down 2.41% at $72.80 at the last check Wednesday.

Read Next:

AbbVie Tops Q3 Expectations As Skyrizi, Rinvoq Drive Growth