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Dec 31, 2023
Vontier Q4 2023 Earnings Report
Vontier reported a 10% decrease in sales, with core sales down 7%, but demonstrated strength in segments like Mobility Technologies and Repair Solutions.
Key Takeaways
Vontier Corporation reported Q4 2023 results, with sales of $789 million, a 10% decrease year-over-year. GAAP diluted net EPS was $0.68, and adjusted diluted net EPS was $0.80, exceeding prior guidance. The company highlighted progress in its Connected Mobility strategy and operational excellence.
Sales decreased by 10% compared to the prior year, with core sales down 7%.
GAAP diluted net EPS was $0.68, while adjusted diluted net EPS was $0.80, surpassing previous guidance.
Operating cash flow reached $165 million, and adjusted free cash flow was $153 million, representing a 122% adjusted free cash flow conversion.
The company repurchased approximately $13 million in shares and repaid $60 million in debt during the quarter.
Revenue by Segment
Forward Guidance
Vontier initiated full year 2024 guidance for Adjusted diluted net EPS of $3.00 to $3.15 and Q1 2024 guidance for Adjusted diluted net EPS of $0.68 to $0.72.
Positive Outlook
- Total sales $3,050 to $3,110 million.
- Core sales growth +4 to 6%.
- Adjusted operating profit margin +80 to 110 basis point expansion year-over-year.
- Adjusted diluted net EPS in the range of $3.00 to $3.15.
- Adjusted free cash flow conversion of ~90 to 100%.
Challenges Ahead
- Total sales $745 to $760 million for Q1 2024.
- Core sales growth +2 to 4% for Q1 2024.
- Adjusted operating profit margin expansion of 40 to 80 basis points year-over-year for Q1 2024.
- Adjusted diluted net EPS of $0.68 to $0.72 for Q1 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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