Veralto Q3 2024 Earnings Report
Key Takeaways
Veralto reported a 4.7% increase in sales to $1,314 million, with non-GAAP core sales growth of 4.6%. Net earnings were $219 million, or $0.88 per diluted common share. The company raised its full year guidance for adjusted diluted earnings per share to a range of $3.44 to $3.48.
Sales increased 4.7% year-over-year to $1,314 million, with non-GAAP core sales growth of 4.6%.
Operating profit margin was 23.4% and non-GAAP adjusted operating profit margin was 24.1%.
Net earnings were $219 million, or $0.88 per diluted common share.
Non-GAAP, adjusted net earnings were $223 million, or $0.89 per diluted common share.
Veralto
Veralto
Forward Guidance
For the fourth quarter of 2024, Veralto anticipates non-GAAP core sales growth in the low-to-mid single-digits year-over-year with adjusted operating profit margin of approximately 24.0% and adjusted diluted earnings per share in the range of $0.86 to $0.90 per share. For the full year 2024, the Company expects core sales growth in the low single-digits with adjusted operating profit margin expansion of approximately 75 basis points. The Company raised its full year guidance for adjusted diluted earnings per share to a range of $3.44 to $3.48, up from its prior guidance of $3.37 to $3.45 per share. Free cash flow conversion guidance was maintained at a range of 100% to 110%.