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.
Jane, a boutique marketplace, is transitioning from a deals platform to a comprehensive shopping destination. This transformation includes a new tech infrastructure and key executive appointments, such as Laura Ravo as Chief Operating Officer and Krista Kochivar as Chief Financial Officer. Ravo, with extensive retail experience, will enhance marketplace operations and customer experience. Kochivar brings over 20 years in financial management from publicly traded companies. These strategic changes aim to strengthen Jane's position in the marketplace.
Jane is evolving from a deals platform to a boutique marketplace, enhancing its tech stack and leadership team to support this shift. Newly appointed COO Laura Ravo, with extensive retail experience, will oversee marketplace operations. Krista Kochivar joins as CFO, bringing over 20 years of financial expertise from public companies. CEO Joana McKenna emphasizes the importance of these appointments for growth and customer experience. These strategic changes aim to place Jane as a leading destination for boutique shoppers.
Vontier announced strong Q2 2022 results with GAAP EPS of $0.21 and adjusted EPS of $0.72, reflecting an 18% increase. Revenue rose 7.2% year-over-year to $776.4 million, driven by growth in DRB and Environmental sectors. The company plans to acquire Invenco, a leader in retail payment solutions, for $80 million, enhancing its digital strategy and growth profile. Expected revenue from Invenco is $80 million with mid-40% gross margins. Vontier forecasts Q3 diluted EPS between $0.72 to $0.77 and full-year diluted EPS of $3.30 to $3.40.
Vontier Corporation (NYSE: VNT) has appointed Hani Joakim as Chief Technology Officer (CTO) to enhance its digital strategy. This role aims to strengthen the company's position in the digital transformation of customer workflows, focusing on connected solutions. Joakim will leverage his extensive experience, including previous leadership at 7-Eleven and Sabre Corporation, to drive growth and innovation. According to CEO Mark D. Morelli, Joakim is poised to guide Vontier through the evolving digital landscape, aligning business strategies with consumer needs.
Vontier Corporation (NYSE: VNT) will host its earnings conference call for Q2 2022 on August 4, 2022, at 8:00 a.m. ET. The call will be accessible via webcast on Vontier's website, with a replay available post-event. Investors can dial in to participate, with specific numbers provided for both U.S. and international callers. Vontier is currently in a 'quiet period' until the earnings release, limiting interaction with the investment community. For further details, visit the 'Investors' section of Vontier's website.
Vontier Corporation (NYSE: VNT) has declared a quarterly cash dividend of $0.025 per share, scheduled for payment on June 23, 2022, to stockholders of record on June 2, 2022. The company plans to maintain quarterly dividends, but future payments are subject to the Board's discretion. As a global industrial technology firm, Vontier focuses on innovative solutions for mobility and transportation challenges, emphasizing customer commitment and sustainable practices.
Vontier Corporation (NYSE: VNT) announced that CEO Mark Morelli and CFO David Naemura will present at the Wolfe Research 15th Annual Global Transportation & Industrials Conference on May 26, 2022, at 8:35 a.m. EDT. The presentation will be available as a simultaneous webcast and archived on the Vontier website. Vontier is a global industrial technology company focused on innovative mobility and transportation solutions, dedicated to delivering sustainable solutions for a better world.
Vontier Corporation (NYSE: VNT) reported a strong Q1 2022, with net earnings of $250.2 million and adjusted net earnings of $115.9 million. Revenue rose 5.7% year-over-year to $748.1 million, despite a slight core revenue decrease of 0.1%. The company announced an accelerated share repurchase program, deploying $441.9 million in capital, including $257 million for share buybacks. Vontier raised its full-year adjusted diluted net earnings per share guidance to $3.20 to $3.30. CEO Mark D. Morelli highlighted the focus on enhancing its growth portfolio and strategic exits of underperforming segments.
Vontier Corporation (NYSE: VNT) announced an upcoming webcast for its first quarter 2022 earnings conference call, scheduled for May 5, 2022, at 8:00 a.m. ET. Investors can access the call via telephone or by streaming on Vontier's website. A replay will be available post-call. Currently, the company is in a quiet period until the earnings release. Vontier is focused on providing innovative solutions for mobility and transportation challenges.
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