Industrial products maker Fortive lifts profit view on strong automation business

July 29 (Reuters) - Fortive raised its 2026 adjusted profit forecast on Wednesday, helped by resilient demand for its industrial automation unit.

A growing number of businesses investing heavily into optimizing their industrial operations has fueled demand for building technology, benefiting companies such as Fortive.

Fortive makes industrial measurement equipment and software-enabled automation used in various industries.

• The Everett, Washington-based company expects annual adjusted earnings in the range of $2.95 to $3.05 per share, compared with its prior forecast of $2.90 to $3.00 per share.
• Analysts on average expected $3 per share, according to data compiled by LSEG.
• It reported adjusted profit of 74 cents per share for the quarter ended July 3, beating analysts' estimate of 71 cents apiece.
• Revenue for the second quarter rose about 8% to $1.1 billion from a year earlier, compared with Wall Street estimates of $1.07 billion.