Veralto Corp · Q4 2023 earnings

Briefing

Veralto reported a sales increase of 3.3% year-over-year, with non-GAAP core sales growth of 1.7%. Net earnings were $200 million, or $0.81 per diluted common share.

Veralto reported fourth-quarter results with sales increasing 3.3% year-over-year to $1,288 million and non-GAAP core sales growth of 1.7%. Net earnings were $200 million, or $0.81 per diluted common share, while non-GAAP adjusted net earnings were $215 million, or $0.87 per diluted common share.

• Sales increased 3.3% year-over-year to $1,288 million, with non-GAAP core sales growth of 1.7%.
• Operating profit margin was 22.2% and non-GAAP adjusted operating profit margin was 23.8%.
• Net earnings were $200 million, or $0.81 per diluted common share.
• Non-GAAP, adjusted net earnings were $215 million, or $0.87 per diluted common share.

Headline financials

Revenue & EPS history

For the first quarter of 2024, Veralto anticipates that non-GAAP core sales will be approximately flat year-over-year with adjusted operating profit margin in the range of 23.0% to 23.5% and adjusted diluted earnings per share in the range of $0.73 to $0.78 per share. For the full year 2024, the Company anticipates that non-GAAP core sales will grow low-single digits year-over-year and that adjusted operating profit margin will expand 50 to 75 basis points year-over-year. The Company is targeting adjusted diluted earnings per share in the range of $3.20 to $3.30 with free cash flow conversion of approximately 100%.