Vontier Corp Stock Price, News & Analysis

Vontier (NYSE: VNT), a global leader in mobility ecosystem technologies, will participate in Morgan Stanley's 12th Annual Laguna Conference. CEO Mark Morelli and CFO Anshooman Aga will join a fireside chat on September 11, 2024, at 6:45 p.m. ET. The discussion will be webcast live via Vontier’s Investor Relations section on their website.

Gilbarco Veeder-Root, a Vontier company (NYSE: VNT), has secured two tenders worth $59 million from Hindustan Petroleum (HPCL) in India. The tenders include $39 million for above-ground dispensers with eight years of service support, and $20 million for underground submersible turbine pumps. These projects will be delivered across HPCL's retail outlets in India over the next 18 months.

The partnership supports India's infrastructure growth, modernization, and decarbonization goals. Gilbarco Veeder-Root's technologies will contribute to India's multi-energy future, including support for biofuels. The company has been present in India since 1955 and has been a preferred supplier for HPCL for over 50 years. This deal aligns with India's ambitious 2030 decarbonization targets and COP26 commitments.

Vontier (NYSE: VNT), a global leader in mobility ecosystem technologies, has announced a regular quarterly cash dividend of $0.025 per share. The dividend is payable on September 26, 2024, to stockholders of record as of September 5, 2024. Vontier, which specializes in critical technologies for connecting, managing, and scaling the mobility ecosystem, plans to continue quarterly dividend payments. However, the company emphasizes that future dividends, including amounts, record dates, and payment dates, are subject to the Board of Directors' discretion.

Vontier's new survey reveals important insights into EV driver preferences, highlighting safety as a key factor in charging station choice. Nearly 80% of EV drivers would go out of their way for a safe charging location, while 67% prefer stations near shopping areas. The study underscores the importance of well-lit, secure, and conveniently located charging stations in accelerating EV adoption.

Vontier (NYSE: VNT), a global industrial technology company, is addressing these concerns by partnering with major convenience store chains to deploy safe and convenient charging infrastructure. Their portfolio company EVolve, which includes Driivz, manages over 85,000 charging ports globally. Gilbarco Veeder-Root's Konect solution offers a turnkey approach for convenience stores to integrate charging with existing services.

As states deploy NEVI Formula Program funds for fast-charging stations, Vontier aims to create charging options prioritizing driver safety and comfort, potentially increasing station utilization and profitability.

Vontier (NYSE: VNT) has announced a $100 million accelerated share repurchase (ASR) agreement with Goldman Sachs. This move is part of Vontier's existing $500 million share repurchase authorization, which had approximately $290 million remaining as of August 1, 2024. The ASR is expected to be settled during the third quarter of 2024, funded by available cash on-hand.

CEO Mark Morelli emphasized the company's commitment to unlocking shareholder value and confidence in Vontier's long-term strategic vision. After this ASR, Vontier will have about $190 million remaining in its current repurchase authorization. The company intends to continue repurchases to drive shareholder value, subject to various factors including market conditions.

Vontier (NYSE: VNT) reported its Q2 2024 results, showing a 9% decline in sales to $696.4 million and a 3% decline in core sales. The company's GAAP diluted net EPS was $0.45, while adjusted diluted net EPS was $0.63. Operating cash flow was $46 million, with adjusted free cash flow at $26 million. Vontier has lowered its full-year 2024 outlook and initiated Q3 2024 guidance. The company also announced plans for an Accelerated Share Repurchase Plan.

Segment-wise, Environmental & Fueling Solutions saw an 8% decline in reported sales, Mobility Technologies experienced a 1% decline, and Repair Solutions reported a 5% decrease. The company attributes these results to delayed customer projects, reduced discretionary spending, and macroeconomic pressures.

Vontier (NYSE: VNT), a global provider of critical technologies for the mobility ecosystem, has scheduled its second quarter 2024 earnings call for Thursday, August 1, 2024, at 8:30 a.m. ET. The company will release its Q2 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: 92715.

Conference call materials will be available on Vontier's investor relations website prior to the call. A replay of the webcast will be accessible shortly after the presentation concludes, both on the website and by phone at +1 888-660-6264 using passcode 92715.

A recent Vontier (NYSE: VNT) survey reveals that nearly 60% of drivers are willing to pay more for convenience store products if it means making just one stop. The study shows that 80% of motorists would even drive out of their way to visit their preferred convenience store. Despite rising food prices, consumers are placing a significant premium on convenience, with many willing to pay a 10-11% markup for items like made-to-order meals and snacks. The survey also highlights that 61% of respondents have a favorite convenience store, and almost half would delay a restroom break or risk driving on empty to reach it. Additionally, 62% value mobile ordering, and 73% appreciate extra services like car washes. The landscape of convenience stores is evolving, with new tech and services turning them into essential stops for travelers.

Vontier (NYSE: VNT) has been named to TIME's inaugural World's Most Sustainable Companies 2024 list. Out of thousands of eligible companies, only 500 were selected, with less than 25% headquartered in the U.S. Vontier's recognition is based on its CDP score and alignment with GRI and SASB, among other metrics. Key sustainability achievements include a Total Recordable Incident Rate (TRIR) of .36, a 36% year-over-year reduction, and early achievement of its 2026 DART goal with a rate of .21, a 47% reduction. The company also reported a 20% year-over-year reduction in Scope 1 and 2 GHG emissions and increased representation of women and racial minorities in leadership roles.