Welcome to our dedicated page for Vontier Corporation news (Ticker: VNT), a resource for investors and traders seeking the latest updates and insights on Vontier Corporation stock.
Vontier Corporation (NYSE: VNT) is a global industrial technology company dedicated to driving productivity, automation, and multi-energy technologies within the rapidly evolving mobility infrastructure industry. Spun off from Fortive in 2020, Vontier operates a diverse portfolio of solutions that enhance safety, efficiency, and sustainability in the transportation sector.
The company's offerings include environmental sensors, fueling equipment, field payment hardware, remote management and workflow software, and vehicle tracking and fleet management software. Notably, Vontier provides key technologies for traffic light control and vehicle mechanics. Their mobility technologies span fuel dispensing, remote fuel management, point-of-sale and payment systems, environmental compliance, and traffic management. Additionally, their diagnostics and repair technologies encompass vehicle repair tools, toolboxes, automotive diagnostic equipment, and wheel-service equipment for automotive tire installation.
In 2023, Vontier achieved sales of approximately $3.1 billion, reflecting its robust market presence and the critical nature of its product suite. One of Vontier's significant initiatives includes the establishment of a $4 million Hydrogen Refueling Test Facility by its subsidiary ANGI Energy Systems in Janesville, Wisconsin. This facility aims to be a cornerstone in the research and development of hydrogen refueling infrastructure, which is pivotal for the future of clean energy in heavy-duty transportation.
ANGI, with over 40 years of expertise in gas compression equipment, launched its hydrogen business in 2022. The new facility, expected to be operational by July 2024, will support strategic expansion and play a vital role in testing hydrogen refueling station systems. This project will not only accelerate the development of low carbon technologies but also foster strategic partnerships and investment in the hydrogen economy. ANGI is also focusing on collaborations with local colleges to create apprenticeship opportunities, aiming to cultivate a highly skilled workforce.
Vontier's commitment to innovation is evident in its continuous development of advanced technologies and solutions that optimize and decarbonize the fleet industry. The company's culture is built on continuous improvement, leveraging the Vontier Business System to drive performance and innovation across its global operations.
For more details about Vontier and its comprehensive suite of products and services, visit the company's website.
Gilbarco Veeder-Root (GVR), a Vontier business, has secured a $15 million tender with Indian Oil (IOCL) for Red Jacket® submersible turbine pumps. The product delivery will span across IOCL's retail sites throughout India over the next 12 months. This follows a previous tender secured in September for retail fuel dispensers and services. GVR has maintained presence in India since 1955, with its main manufacturing facility in Coimbatore. Additionally, Invenco by GVR has recently opened a software development center in Bengaluru to support global and India software needs.
Vontier (NYSE: VNT) has announced its Board of Directors declared a regular quarterly cash dividend of $0.025 per share. The dividend will be paid on December 12, 2024, to stockholders of record as of November 21, 2024. While the company anticipates maintaining quarterly dividend payments, future declarations, amounts, record dates, and payment dates remain subject to Board discretion.
RaceTrac has selected Vontier's (NYSE: VNT) Invenco by GVR asset management cloud-based solution to remotely manage forecourt assets across its 800+ stores in 13 states. The system helps maximize operational efficiency through remote management, preventative maintenance, and automated work orders. RaceTrac reported avoiding 10,000 truck rolls last year, with 59% of work orders being created automatically. The cloud-based platform includes APIs for seamless integration with hardware, software, and services, enabling improved accuracy and faster issue resolution while reducing operational expenses.
Vontier (NYSE: VNT), a provider of critical technologies for the mobility ecosystem, has announced upcoming investor conference participations. CFO Anshooman Aga will conduct a fireside chat at the Baird 2024 Global Industrial Conference on November 12th at 2:10 p.m. ET and hold one-on-one investor meetings. He will also host investor meetings at the Scotia Bank 24th Annual Transportation & Industrials Conference on November 13th. The Baird presentation will be available via webcast on Vontier's website with replay access.
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.
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