Fortive raised its adjusted earnings outlook for the year after posting higher-than-expected profit in the second quarter, as growth investments are starting to pay off.

The company on Wednesday posted a profit of $157.3 million, or 51 cents a share, for its quarter ended July 3. That compares with $166.6 million, equivalent to 49 cents a share, in last year's comparable period.

Stripping out one-time items, earnings came in at 74 cents a share. Analysts polled by FactSet had expected adjusted earnings of 71 cents a share.

Quarterly sales climbed 7.9% to $1.1 billion, edging out Wall Street models for $1.07 billion.

Chief Executive Olumide Soroye said Fortive is benefiting from growth investments, disciplined capital allocation, and a commitment to building and maintaining investor trust.

"We are seeing early evidence that our investments in innovation acceleration, commercial acceleration, and recurring customer value are contributing to improved growth and earnings performance," he said.

Looking ahead, Fortive now expects adjusted earnings of $2.95 to $3.05 a share for the year, up from a prior outlook of $2.90 to $3 a share. Analysts are looking for adjusted earnings of $3 a share.

Soroye said the higher outlook reflects Fortive's strong first-half performance and confidence in the trajectory of the business.