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) 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.
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