Vontier Corporation - VNT STOCK NEWS

Vontier Corporation (NYSE: VNT) announced the sale of its Global Traffic Technologies (GTT) business to Miovision for $107 million, valued at approximately 10 times GTT's 2022 EBITDA. With 2022 revenue of around $40 million, GTT specializes in intelligent traffic management systems. This transaction aligns with Vontier's strategy to enhance its portfolio and improve financial performance. Proceeds from the sale will be used for debt reduction and share repurchase. GTT's financial results will be included in Vontier's financials up to March 31, 2023, after which it will be excluded from continuing operations. The sale was finalized on April 14, 2023.

Vontier Corporation (NYSE: VNT) will release its first quarter 2023 earnings results on May 4, 2023, at 8:30 a.m. ET. The earnings call can be accessed via webcast or by phone at +1 800-343-1703 for U.S. callers and +1 785-424-1116 for international callers, using conference ID: 9865421. A replay of the call will be available post-presentation.

Vontier is recognized as a leading provider of critical technologies and solutions aimed at improving the mobility ecosystem. With a strong commitment to innovation and sustainability, the company focuses on delivering safe and efficient solutions to meet evolving mobility needs.

Vontier Corporation (NYSE: VNT) held its first Investor Day on March 23, 2023, at 8:30 a.m. ET, where it outlined its strategic and capital allocation priorities. CEO Mark Morelli emphasized Vontier's unique position in the $30 billion mobility ecosystem, offering a comprehensive suite of hardware and software solutions. Vontier confirmed its 2023 outlook and set long-term financial targets, including 4-6% organic revenue growth through 2026 and double-digit adjusted diluted EPS growth CAGR. The company projects around 100% adjusted free cash flow conversion, driven by strong market positions and secular tailwinds in connected automation and multi-energy fueling.

Vontier Corporation (NYSE: VNT) announced a new segment reporting structure aimed at improving transparency and aligning with company strategy. Starting Q1 2023, financial results will include three segments: Mobility Technologies, Repair Solutions, and Environmental & Fueling Solutions, alongside 'Other' businesses. Notably, Q4 2022 results showed total sales of $871.9 million, with Mobility Technologies contributing $259.5 million. The adjusted operating profit for the full year reached $716.2 million, reflecting a margin of 22.5%. Vontier's President & CEO, Mark D. Morelli, emphasized this restructuring will foster profitable growth and shareholder value. More details will be shared on March 23, 2023.

Vontier Corporation (NYSE: VNT) announced its 2023 Investor Day conference, scheduled for March 23, 2023, in New York, accessible both virtually and in-person. Executives, including President and CEO Mark Morelli and CFO Anshooman Aga, will present the company's strategic and capital allocation priorities, growth strategy, and mid-term financial outlook. The event will feature presentations and Q&A sessions, starting at 8:30 a.m. ET and concluding around noon ET. Interested attendees can register for the webcast and find additional details on Vontier's investor relations website.

Vontier Corporation (NYSE: VNT) reported robust fourth quarter results, with revenues hitting $872 million, a 10% increase year-over-year, and an adjusted diluted EPS of $0.81, surpassing prior guidance. Full-year revenues reached $3.2 billion, up 7% with diluted EPS at $2.49. The company executed over $325 million in share repurchases and $275 million in acquisitions. For 2023, Vontier projects adjusted diluted EPS between $2.73 and $2.83, although anticipates a decline in total and core revenue. CEO Mark Morelli emphasized strong demand and positioned Vontier to leverage trends in the mobility ecosystem.

Vontier Corporation (NYSE: VNT) declared a regular quarterly cash dividend of $0.025 per share, payable on March 23, 2023, to stockholders of record on March 2, 2023. The company aims to continue paying dividends quarterly, although future declarations will depend on the Board of Directors' discretion. As a leader in critical technologies and solutions within the mobility ecosystem, Vontier focuses on providing smart, sustainable solutions. Investors should note that forward-looking statements may entail risks, including market instability and operational challenges, which could impact future results.

Vontier Corporation (NYSE: VNT) has announced that President and CEO Mark Morelli and CFO Anshooman Aga will present at two investor conferences on February 22, 2023. The first presentation will take place at Citi's Global Industrial Tech and Mobility Conference at 8:50 a.m. Eastern Time, followed by the Barclays Industrial Select Conference at 1:50 p.m. Eastern Time. Both presentations will be available to stream live on Vontier's Investor Relations website, with replays accessible afterward. Vontier continues to lead in providing innovative technologies for the mobility ecosystem.

Vontier Corporation (NYSE: VNT) has appointed David M. Foulkes to its Board of Directors, effective March 1, 2023. Foulkes, who has been CEO of Brunswick Corporation since January 2019, brings a wealth of experience in industrial technology, digital transformation, and global manufacturing. He previously held significant roles at Ford Motor Company for 18 years. Board Chair Karen Francis and CEO Mark Morelli emphasized Foulkes’ potential contribution to Vontier's growth and innovation in the mobility ecosystem, given his robust technology background and industry insights.