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.
Vontier Corporation (NYSE: VNT) has scheduled its earnings conference call for the third quarter of 2021 on November 4, 2021, at 8:00 a.m. ET. This call will be available on their website, including a slide presentation. The company is currently in a 'quiet period' leading up to this earnings release, during which they will not engage with the investment community. Vontier focuses on transportation and mobility solutions, boasting over 90,000 intersections and 260,000 fueling sites served globally.
Vontier Corporation (NYSE: VNT) announced that President of Gilbarco Veeder-Root, Aaron Saak, will present at the Bank of America Securities 2021 Industrial Software and Automation Summit on September 23, 2021, at 11:00 a.m. ET. The presentation will be webcast live and available for later access on www.vontier.com.
Vontier specializes in transportation and mobility technologies, including fueling systems and fleet management, serving over 260,000 fueling sites and monitoring 480,000 vehicles globally.
Vontier Corporation (NYSE: VNT) has successfully completed its acquisition of DRB Systems, LLC, effective September 13, 2021. DRB, known for its point of sale and workflow software for the car wash industry, will operate as a standalone entity within Vontier's Mobility Technologies platform. The acquisition is expected to generate approximately $170 million in revenue for 2021, with mid-20% operating margins. Additionally, it is projected to contribute $0.04 to $0.05 to adjusted net earnings per share for the same year, enhancing Vontier's growth and portfolio diversification.
Vontier Corporation (NYSE: VNT) declared a quarterly cash dividend of $0.025 per share, payable on September 23, 2021, to stockholders of record by September 2, 2021. This decision reflects Vontier's commitment to returning value to its shareholders. The company emphasizes its focus on innovation in transportation and mobility solutions, serving over 260,000 customer fueling sites and monitoring 480,000 commercial vehicles globally. The future of dividend payments remains at the discretion of the Board of Directors.
Tritium and Gilbarco Veeder-Root, a Vontier Corporation subsidiary, announced an agreement to waive a call option for Gilbarco to acquire Tritium. This follows Gilbarco's minority investment in Tritium since 2018, indicating a shift towards supporting Tritium's plans to go public through a business combination with Decarbonization Plus Acquisition Corporation II (DCRN). The anticipated transaction is expected to close in Q4 2021, subject to regulatory approvals and other conditions.
Vontier Corporation (NYSE: VNT) reported strong second-quarter results for 2021, with net earnings of $82.3 million and adjusted net earnings of $104.4 million. Revenue surged by 35.8% year-over-year to $724.6 million, driven by a 32.7% increase in core revenue. Diluted earnings per share reached $0.48, with adjusted diluted earnings per share at $0.61. CEO Mark D. Morelli highlighted robust order growth and ongoing strategic initiatives including the acquisition of DRB Systems. The company expects EPS for Q3 2021 between $0.63 and $0.66, and for the full year, between $2.39 and $2.44.
Vontier Corporation (NYSE: VNT) will host a webcast of its second-quarter 2021 earnings conference call on August 6, 2021, at 8:00 a.m. ET. Investors can access the call via telephone or through the company's website. A replay will be available post-call. Vontier, a global industrial technology firm, focuses on advanced transportation and mobility solutions. It operates with a commitment to innovation, serving over 260,000 fueling sites and monitoring more than 480,000 commercial vehicles globally.
Vontier Corporation (NYSE: VNT) has announced its acquisition of DRB Systems, LLC for approximately $965 million in cash, subject to customary closing conditions. This strategic move aims to diversify Vontier's portfolio and establish a $500 million Retail Solutions segment. DRB, based in Akron, OH, is expected to generate about $170 million in revenue for 2021, with operating margins in the mid-20%. The deal aligns with Vontier's focus on smart infrastructure and aims to capitalize on growing demands in the car wash sector.
Insite360, a subsidiary of Vontier, has partnered with Site IQ to enhance equipment management for convenience retailers. This collaboration incorporates Site IQ's cloud-based solutions with Insite360's platform, improving asset uptime and reducing service visits. The partnership allows the connection of various dispensers, including older models and competitive brands, facilitating better data management across retail networks. Launching in the second half of 2021, this initiative aims to transform fueling site management, enhancing efficiency and profitability for customers.
Vontier Corporation (NYSE: VNT) announced a quarterly cash dividend of $0.025 per share, payable on June 24, 2021, to stockholders on record as of June 3, 2021. Vontier, a global industrial technology company, focuses on transportation and mobility solutions, enhancing efficiency and safety across diverse sectors. The Board of Directors retains discretion over future dividends, including amounts and payment dates. Vontier's strong portfolio supports its growth initiatives, reflecting confidence in its market position and cash flow capabilities.
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