Vontier Corporation · Q1 2024 earnings

Briefing

Vontier's Q1 2024 performance was marked by resilient end markets and the successful execution of its Connected Mobility strategy, driving growth and unlocking value.

Vontier Corporation reported a 3% decrease in sales to $756 million, but core sales increased by 4%. GAAP diluted net EPS was $0.88, while adjusted diluted net EPS was $0.74, exceeding prior guidance. The company generated $92 million in operating cash flow and $78 million in adjusted free cash flow, representing a 68% adjusted free cash flow conversion.

• Sales reached $756 million, a 3% decrease compared to the previous year, but core sales increased by 4%.
• GAAP diluted net EPS was $0.88, with adjusted diluted net EPS at $0.74, surpassing the prior guidance of $0.68 to $0.72.
• Operating cash flow amounted to $92 million, and adjusted free cash flow was $78 million, resulting in a 68% adjusted free cash flow conversion.
• The company initiated Q2 2024 guidance for adjusted diluted net EPS to be between $0.67 and $0.71.

Headline financials

Revenue & EPS history

Vontier anticipates for Q2 2024 total sales between $735 to $750 million, core sales growth of +2 to 4%, adjusted operating profit margin expansion of 20 to 60 basis points year-over-year, and adjusted diluted net earnings per share in the range of $0.67 to $0.71.