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Mar 31, 2023
Vontier Q1 2023 Earnings Report
Vontier reported strong first quarter results, exceeding expectations and raising full year guidance.
Key Takeaways
Vontier Corporation reported a 3.8% year-over-year increase in sales to $776.4 million, driven by a 3.9% increase in core sales. GAAP diluted EPS was $0.53, while adjusted diluted net EPS was $0.68. The company is raising its full-year adjusted diluted net EPS guidance to $2.77 to $2.87.
Sales of $776 million, up 4% vs. prior year; Core sales growth of 4%.
GAAP diluted EPS of $0.53.
Adjusted diluted net EPS of $0.68 vs. prior guide of $0.57 to $0.62.
Adjusted Free Cash Flow was $78 million, representing 73% Adjusted Free Cash Flow Conversion
Vontier
Vontier
Vontier Revenue by Segment
Revenue by Segment
Repair Solutions Revenue
CapyFin.com Forward Guidance
Vontier is initiating Q2 2023 guidance for Adjusted diluted net EPS of $0.61 to $0.66 and increasing full-year 2023 Adjusted diluted net EPS guidance to $2.77 to $2.87.
Positive Outlook
- Adjusted diluted EPS in the range of $2.77 to $2.87, compares to the prior range of $2.73 to $2.83, or $2.68 to $2.78 excluding a $0.05 contribution from GTT, following the divestiture
- Adjusted free cash flow conversion of ~90-100%
- Baseline core sales growth of mid-single digits
- Adjusted diluted EPS $0.61 to $0.66 for Q2 2023
- Baseline core sales growth of mid-single digits for Q2 2023
Challenges Ahead
- Total sales down low-to-mid-single digits for full year 2023
- Core sales down low-to-mid-single digits for full year 2023
- Adjusted operating profit margin down 60 to 80 basis points for full year 2023
- Total sales down mid-single digits for Q2 2023
- Core sales down low-to-mid-single digits for Q2 2023