Vontier Q3 2022 Earnings Report
Key Takeaways
Vontier Corporation announced its Q3 2022 results, with revenue increasing by 2.5% year-over-year to $788.0 million. The company reported a GAAP EPS of $0.32 and an adjusted EPS of $0.86, which is up 8% compared to the prior year. Despite a challenging quarter, the company demonstrated strong execution and delivered solid bottom line performance.
Q3 revenues increased by 3% year-over-year to $788 million.
GAAP EPS was $0.32, while adjusted EPS reached $0.86, up 8% compared to the previous year.
Core revenue decreased by 2%, but increased by 3% excluding EMV, driven by double-digit growth in fueling dispenser aftermarket and alternative fuels.
Adjusted operating profit margin expanded by 40 basis points due to strong price/cost performance and ongoing cost reduction actions.
Vontier
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Forward Guidance
For the fourth quarter of 2022, Vontier anticipates diluted net earnings per share to be in the range of $0.58 to $0.63 and adjusted diluted net earnings per share to be in the range of $0.73 to $0.78. For the full year 2022, Vontier anticipates diluted net earnings per share to be in the range of $2.66 to $2.71 and adjusted diluted net earnings per share to be in the range of $3.00 to $3.05.