Welcome to our dedicated page for Veralto Corporation news (Ticker: VLTO), a resource for investors and traders seeking the latest updates and insights on Veralto Corporation stock.
Veralto Corporation (NYSE: VLTO) is a global leader in essential technology solutions dedicated to safeguarding the world's most vital resources. Headquartered in Waltham, Massachusetts, Veralto operates through two main segments: Water Quality and Product Quality & Innovation.
The Water Quality segment focuses on improving the quality and reliability of water. This is achieved through renowned brands such as Hach, Trojan Technologies, and ChemTreat. These brands are instrumental in creating safe and sustainable water solutions, ensuring clean water for consumption and industrial use.
In the Product Quality & Innovation segment, Veralto enhances consumer trust and promotes product innovation through a suite of brands including Videojet, Linx, Esko, X-Rite, and Pantone. These companies are at the forefront of providing cutting-edge solutions for product identification, marking, and color management, fostering innovation across various industries.
With annual sales nearing $5 billion and a robust global team of 16,000 associates, Veralto is driven by a powerful purpose: Safeguarding the World's Most Vital Resources™. The company’s commitment is further strengthened by the Veralto Enterprise System (VES), a derivative of the highly effective Danaher Business System (DBS), which emphasizes operational excellence.
Recently, Veralto separated from its former parent, Danaher Corporation, and commenced regular trading as an independent publicly traded company on October 2, 2023. This new chapter of independent operation is marked by a strong portfolio of 13 leading brands, each an industry pioneer.
Veralto also maintains a forward-looking perspective with its latest announcements, such as the separation of Trojan Technologies' Salsnes Filter business, and the proactive response to unsolicited mini-tender offers, ensuring the best interests of its shareholders.
Looking ahead, Veralto has scheduled its third quarter 2023 results release for October 25, 2023, followed by an earnings conference call on October 26, 2023. The company will also webcast its quarterly earnings calls for Q4 2023 and Q1 2024, ensuring transparency and continuous engagement with its investors.
Veralto (NYSE: VLTO) reported strong Q2 2024 results, with sales increasing 2.8% year-over-year to $1,288 million and non-GAAP core sales growth of 3.8%. The company's operating profit margin was 23.2%, while non-GAAP adjusted operating profit margin reached 24.0%. Net earnings were $203 million, or $0.81 per diluted common share, with non-GAAP adjusted net earnings at $213 million, or $0.85 per diluted share.
Veralto raised its full-year 2024 guidance, targeting low single-digit core sales growth and increasing its adjusted operating profit margin expansion target to ~75 basis points. The company also raised its adjusted diluted earnings per share guidance to $3.37-$3.45, up from $3.25-$3.34 previously.
Veralto (NYSE: VLTO), a global leader in essential water and product quality solutions, has appointed Vijay Sankaran to its board of directors. Sankaran, currently the Chief Technology Officer of Johnson Controls, will also serve on the board's audit committee. His extensive executive management and digital technology leadership experience is expected to bring valuable perspectives to Veralto's board.
Sankaran's background includes roles as CIO at TD Ameritrade, CTO at Ford Motor Company, and positions at James Martin & Company and Ernst & Young. He holds a B.S. in Mathematics and Computer Science from MIT and an MBA from Duke University. With Sankaran's addition, Veralto's board now comprises 12 directors, with nine being independent.
Veralto (NYSE: VLTO) has announced the schedule for its second quarter 2024 earnings call. The webcast is set for Friday, July 26, 2024, at 8:30 a.m. ET. Investors can access the webcast and accompanying slide presentation through the 'Investors' section of Veralto's website. Additionally, a replay of the webcast will be available until the next quarterly earnings call. The earnings news release and related materials will be posted on the website after market close on July 25, 2024. Conference call dial-in details include 1-800-343-4136 for U.S. participants and +1 203-518-9708 for international participants.
Veralto (NYSE: VLTO), a global leader in water and product quality solutions, announced a quarterly cash dividend of $0.09 per share.
The dividend is payable on July 31, 2024 to shareholders of record as of June 28, 2024.
This decision reflects Veralto's ongoing commitment to returning value to its shareholders.
Veralto (NYSE: VLTO) has announced that Sameer Ralhan, Senior Vice President and Chief Financial Officer, will represent the company at the Wolfe Research 17th Annual Global Transportation and Industrials Conference. The event will take place on May 23, 2024. Veralto specializes in essential water and product quality solutions aimed at safeguarding the world's most vital resources.
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