Fortive Corp at Robert W Baird Global Industrial Conference Transcript
All right. Door is open, but clock is running. So let's get started. Good morning. I'm Rick Eastman, Managing Director and Senior Analyst here at Baird, covering the advanced industrial equipment sector. Myself, and my associate wingman, Rob Mason, cover the space. So pleased to have Fortive presenting this morning. Fortive is an industrial growth compounder with a very high quality portfolio. Fortive has consistently referenced 2018-'19 as a transformative years for its portfolio with a split out of the Automation & Specialty business, a sale actually last year and a number of large acquisitions over the past 12 months and the recently announced split off of the transportation businesses in one form or fashion. Collectively, this will be a multi-year transformational period for Fortive's portfolio stretching into the second half of 2020.
The net effect, in our view, is a portfolio with diminished cyclicality due to an increased software and recurring revenue contribution from both new
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