Vontier Corp Stock Price, News & Analysis

Vontier (VNT) reported Q3 2024 results with sales of $750 million, down 2% year-over-year, while core sales increased 2.8%. The company posted GAAP diluted EPS of $0.60 and adjusted EPS of $0.73. Operating profit declined 7.8% to $131.5 million, with margins decreasing 110 basis points to 17.5%. The Environmental & Fueling Solutions segment showed strong performance with 8.5% core sales growth, while Repair Solutions declined 5.1%. Vontier narrowed its full-year 2024 adjusted EPS guidance to a midpoint of $2.90 and initiated Q4 2024 adjusted EPS guidance of approximately $0.79.

Vontier (NYSE: VNT) announced that its Board Chair, Karen C. Francis, has been named to the 2024 NACD Directorship 100 by the National Association of Corporate Directors. This annual award recognizes influential directors and leaders in corporate governance who demonstrate excellence through innovation, courage, and integrity.

Karen has served as Vontier's Board Chair since its public debut in 2020, playing a important role in establishing the company and its board. She also serves on Vontier's Nominating & Governance Committee and on the board of Polestar Automotive. Karen's experience includes serving as an independent director for private-equity and venture-capital funded companies in Silicon Valley and as a Senior Advisor to TPG Capital.

The honorees will be recognized at the 2024 NACD Directorship 100 Gala in New York City on December 16 and featured in NACD Directorship® magazine's annual list of influential people in boardrooms and corporate governance.

Victor Capital Partners has successfully closed its oversubscribed Fund II with $310 million in capital commitments, exceeding fundraising targets. The fund, led by partners Douglas Korn, David Affinito, and Matthew McLain, will focus on private equity investments in branded businesses across the specialty consumer, industrial technology, and business services sectors.

Fund II aims to deploy $25 million to $100 million of equity capital per transaction, targeting lower middle market businesses with defensive characteristics and significant value potential. The firm's first investment from Fund II was the January 2024 acquisition of The Coats Company, a Nashville-based manufacturer of wheel service equipment, from Vontier (NYSE: VNT).

Vontier (NYSE: VNT) will showcase cutting-edge innovations at the National Association of Convenience Stores (NACS) Conference from October 7-10, 2024, in Las Vegas. The company's brands, including Gilbarco Veeder-Root, Invenco by GVR, and DRB, will present solutions addressing key challenges for convenience store owners and operators.

The exhibition will focus on four main themes:

• Unified Payment: Featuring Invenco by GVR's FlexPay® 6 payment terminals
• Remote Management and Connectivity: Cloud-based solutions for integrated device management
• Productivity: Enabling multi-channel ordering and Invenco by GVR's Passport system
• Energy Diversification: Gilbarco Veeder-Root's Konect™ EV charging solution

The event will include an in-booth speaker series, original research presentations, and opportunities for one-on-one meetings with company executives.

Vontier (NYSE: VNT), a global provider of critical technologies for the mobility ecosystem, has scheduled its third quarter 2024 earnings call for Thursday, October 31, 2024, at 8:30 a.m. ET. The company will release its Q3 2024 earnings results on the same day. Investors can access the call via webcast or by dialing +1 800-549-8228 with the conference ID: 47424.

Webcast information and related conference call materials will be available on Vontier's investor relations website prior to the call. A replay of the webcast will be accessible at the same location after the presentation concludes, or by dialing +1 888-660-6264 with passcode 47424.

Matco Tools, a Vontier company (NYSE: VNT), has been honored as a winner of the 2024 MOTOR Top 20 Awards Competition for its innovative Maximus 5.0 Diagnostic Scan Tool. This recognition celebrates the tool's significant contribution to advancing automotive diagnostics.

The Maximus 5.0 is designed to streamline the diagnostic process for master technicians, offering features such as:

• VCI with flashing/reprogramming capabilities
• 4-Channel Oscilloscope
• Bluetooth Battery Analyzer
• Code Assist and Maximus Fix
• Built-in High Speed Health Reports

Mike Dwyer, President of Matco Tools, emphasized the tool's importance in addressing the evolving needs of modern automotive shops, particularly in light of increasing vehicle complexity and sensor proliferation.

Vontier (NYSE: VNT) announced that Costco Wholesale has chosen Vontier's Invenco by GVR to provide advanced payment solutions for their 76 fueling sites across Canada. The rollout will begin in October 2024. The solution includes the FlexPay 6 Modular 15-inch outdoor payment terminal and iNFX microservices architecture, offering benefits such as over-the-air upgrades, enhanced security, and seamless integration capabilities.

This collaboration aims to enhance Costco's member experience with improved uptime, faster transaction speeds, and new communication methods at the pump. The distributed iNFX architecture allows outdoor payment terminals to function as standalone point-of-sale systems, eliminating single points of failure common in traditional fueling setups.

Gilbarco Veeder-Root (GVR), a Vontier company (NYSE: VNT), has secured a $27 million tender from Indian Oil (IOCL) for retail fuel dispensers and services. This follows a $59 million tender with Hindustan Petroleum (HPCL) announced last month. The IOCL deal includes $17 million in equipment and $10 million in services over eight years.

GVR will deliver products across IOCL's retail sites in India over the next 12 months. The company has been present in India since 1955 and operates a manufacturing facility in Coimbatore. Additionally, Invenco by GVR recently opened a software development center in Bengaluru, demonstrating Vontier's long-term commitment to the Indian market.

Vontier (NYSE: VNT) is accelerating the global launch of its Konect electric vehicle (EV) charging solution, aimed at helping convenience store owners capitalize on the growing demand for EV charging. Konect offers an end-to-end solution covering site selection, grant applications, installation, and technical support.

The EV market is experiencing rapid growth, with global sales predicted to reach over 11 million units in 2024 and double by the end of the decade. Konect, launched in May 2024, enables convenience stores to deploy their own chargers and create a new revenue stream. The solution combines technology from Vontier businesses, including Gilbarco Veeder-Root, Invenco by GVR, and Driivz.

Initially focused on North America and Europe, Vontier is exploring adjacent markets as interest expands. The company is developing a strong sales pipeline with major fuel retailers and fleet operators, with upcoming announcements expected.