Overview
Veralto Q2 sales rise 6.4% yr/yr, beating analyst expectations, per LSEG data
Adjusted EPS for Q2 beats consensus, reaching $0.93 per share, per LSEG data
Co raises full year guidance for adjusted EPS and core sales growth
Outlook
Veralto expects Q3 adjusted EPS of $0.91 to $0.95
Company raises full-year EPS guidance to $3.72-$3.80
Company expects full-year core sales growth in mid-single-digits
Result Drivers
COMMERCIAL EXECUTION - Strong commercial execution and steady customer demand drove Q2 results, according to CEO Jennifer L. Honeycutt
VERALTO ENTERPRISE SYSTEM - Application of the Veralto Enterprise System supported global growth and operating discipline, per CEO
SECULAR GROWTH DRIVERS - Growth across end markets attributed to secular growth drivers, leading to raised full-year guidance
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Sales
Beat
$1.37 bln
$1.34 bln (13 Analysts)
Q2 Adjusted EPS
Beat
$0.93
$0.88 (12 Analysts)
Q2 EPS
$0.89
Q2 Adjusted Net Income
Beat
$232 mln
$222.90 mln (10 Analysts)
Q2 Net Income
$222 mln
Q2 Adjusted Operating Margin
23.7%
Q2 Operating Margin
22.8%
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "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 $109.50, about 5.7% above its July 25 closing price of $103.28
The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 26 three months ago
Press Release: ID:nPn5z8w0la
(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.)