Overview
Veralto Q3 sales rise 6.9% yr/yr, beating analyst expectations
Adjusted EPS for Q3 beats consensus, reflecting strong operational performance
Company raises full-year adjusted EPS guidance, indicating confidence in growth
Outlook
Veralto anticipates Q4 non-GAAP core sales growth of low-single-digits
Veralto expects Q4 adjusted EPS between $0.95 and $0.98
Veralto raises full-year adjusted EPS guidance to $3.82-$3.85
Result Drivers
COMMERCIAL PERFORMANCE - Strong commercial execution and disciplined operating practices drove mid-single digit core sales growth
CUSTOMER DEMAND - Demand across key end markets was as expected, supporting sales growth
FINANCIAL FLEXIBILITY - Strengthened financial position allows for investment in growth opportunities
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Sales
Beat
$1.40 bln
$1.39 bln (13 Analysts)
Q3 Adjusted EPS
Beat
$0.99
$0.94 (12 Analysts)
Q3 EPS
$0.95
Q3 Adjusted Net Income
Beat
$247 mln
$236.95 mln (11 Analysts)
Q3 Net Income
$239 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 9 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the environmental services & equipment peer group is "buy"
Wall Street's median 12-month price target for Veralto Corp is $119.00, about 12.5% above its October 27 closing price of $104.12
The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 26 three months ago
Press Release: ID:nPnb30WzTa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)