Veralto Reports Second Quarter 2025 Results
Key Second Quarter 2025 Results
Sales increased 6.4% year-over-year to $1,371 million, with non-GAAP core sales growth of 4.8%
Operating profit margin was 22.8% and non-GAAP adjusted operating profit margin was 23.7%
Net earnings were $222 million, or $0.89 per diluted common share
Non-GAAP, adjusted net earnings were $232 million, or $0.93 per diluted common share
Operating cash flow was $339 million and non-GAAP free cash flow was $323 million
'We delivered a strong second quarter led by outstanding commercial execution and steady, broad-based customer demand. Our rigorous application of the Veralto Enterprise System continued to support global growth and operating discipline, while also helping mitigate impacts from changes in global trade policies,' said Jennifer L. Honeycutt, President and Chief Executive Officer. 'Through the first half, we grew core sales mid-single-digits, expanded adjusted operating profit margins and delivered double-digit adjusted earnings per share growth. These results are a testament to the focused efforts of our global team, our durable business model and secular growth drivers across our end markets,'
'Based on our first half performance, stable demand across our end markets and our current assessment of macro-economic conditions, we raised our full year core sales growth and adjusted earnings per share guidance. Veralto's financial position remains strong, and we continue to be prudent in evaluating capital allocation opportunities to fuel long-term shareholder value,' concluded Honeycutt.
2025 Guidance
The Company provides forecasted sales only on a non-GAAP basis because of the difficulty in estimating the other components of GAAP sales, such as currency translation, acquisitions, and divestitures.
The guidance below includes the Company's current assessment of the macro-economic environment, including tariffs and the Company's actions to mitigate adverse financial impacts.
For the third quarter of 2025, Veralto anticipates that non-GAAP core sales will grow mid-single-digits year-over-year with adjusted diluted earnings per share in the range of $0.91 to $0.95 per share.
For the full year 2025, the Company raised its adjusted earnings per share guidance range to $3.72 to $3.80 per share, up from its prior guidance range of $3.60 to $3.70 per share. The Company also increased its full year core sales growth assumption to mid-single-digits, up from its prior assumption of low-to-mid-single-digits. The Company maintained its expectation for full year adjusted operating profit margin expansion in the range of flat to +50 basis points year-over-year and for its free cash flow conversion in the range of 90% to 100%.
Conference Call and Webcast Information
Veralto will discuss its second quarter results and financial guidance for 2025 during its quarterly investor conference call tomorrow starting at 8:30 a.m. (ET). Access to the call, webcast and an accompanying slide presentation will be available on the 'Investors' section of Veralto's website, www.veralto.com, under the subheading 'News & Events' and additional materials will be posted to the same section of Veralto's website. A replay of the webcast will be available in the same section of Veralto's website shortly after the conclusion of the call and will remain available until the next quarterly earnings call.
The conference call can be accessed by dialing +1 (800) 343-4136 (U.S.) or +1 (203) 518-9843 (INTL) (Conference ID: VLTO2Q25). A replay of the conference call will be available shortly after the conclusion of the call and until August 7, 2025. You can access the replay dial-in information on the 'Investors' section of Veralto's website under the subheading 'News & Events.'
ABOUT VERALTO
With annual sales of over $5 billion, Veralto is a global leader in essential technology solutions with a proven track record of solving some of the most complex challenges we face as a society. Our industry-leading companies with globally recognized brands help billions of people around the world access clean water, safe food and trusted essential goods. Headquartered in Waltham, Massachusetts, our global team of nearly 17,000 associates is committed to making an enduring positive impact on our world and united by a powerful purpose: Safeguarding the World's Most Vital Resources™.
NON-GAAP MEASURES AND SUPPLEMENTAL MATERIALS
In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), this earnings release also contains non-GAAP financial measures. Calculations of these measures, the reasons why we believe these measures provide useful information to investors, a reconciliation of these measures to the most directly comparable GAAP measures, as applicable, and other information relating to these non-GAAP measures are included in the supplemental reconciliation schedule attached.
In addition, this earnings release, the slide presentation accompanying the related earnings call, non-GAAP reconciliations and a note containing details of historical and anticipated, future financial performance have been posted to the 'Investors' section of Veralto's website (www.veralto.com) under the subheading 'Quarterly Earnings.'
FORWARD-LOOKING STATEMENTS
Certain statements in this release, including statements regarding the Company's third quarter and full year 2025 financial performance and guidance, the Company's differentiation and positioning to continue delivering sustainable, long-term shareholder value and any other statements regarding events or developments that we believe or anticipate will or may occur in the future are 'forward-looking' statements within the meaning of the federal securities laws. All statements other than historical factual information are forward-looking statements, including, without limitation, statements regarding: projections of revenue, expenses, profit, profit margins, asset values, pricing, tax rates, tax provisions, cash flows, pension and benefit obligations and funding requirements, Veralto's liquidity position or other projected financial measures; Veralto's management's plans and strategies for future operations, including statements relating to anticipated operating performance, customer demand, cost reductions, restructuring activities, new product and service developments, competitive strengths or market position, acquisitions and the integration thereof, divestitures, spin-offs, split-offs, initial public offerings, other securities offerings or other distributions, strategic opportunities, stock repurchases, dividends and executive compensation; growth, declines and other trends in markets Veralto sells into, including the impact of changes to global trade policies, restrictions on imports, related countermeasures and reciprocal tariffs; future new or modified laws, regulations, accounting pronouncements or public policy changes; regulatory approvals and the timing and conditionality thereof; outstanding claims, legal proceedings, tax audits and assessments and other contingent liabilities; future foreign currency exchange rates and fluctuations in those rates; results of operations and/or financial condition; general economic and capital markets conditions; the anticipated timing of any of the foregoing; assumptions underlying any of the foregoing; and any other statements that address events or developments that Veralto intends or believes will or may occur in the future. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings. These forward-looking statements speak only as of the date of this release and except to the extent required by applicable law, the Company does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise.
VERALTO CORPORATION
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS
($ and shares in millions, except per share amounts)
(unaudited)
Three-Month Period Ended
Six-Month Period Ended
July 4, 2025
June 28, 2024
July 4, 2025
June 28, 2024
Sales
$ 1,371
$ 1,288
$ 2,703
$ 2,534
Cost of sales
(549)
(514)
(1,076)
(1,013)
Gross profit
822
774
1,627
1,521
Operating costs:
Selling, general and administrative expenses
(442)
(414)
(861)
(808)
Research and development expenses
(67)
(61)
(131)
(121)
Operating profit
313
299
635
592
Nonoperating income (expense):
Other income (expense), net
—
1
(6)
(14)
Interest expense, net
(28)
(30)
(55)
(58)
Earnings before income taxes
285
270
574
520
Income taxes
(63)
(67)
(127)
(133)
Net earnings
$ 222
$ 203
$ 447
$ 387
Net earnings per common share:
Basic
$ 0.89
$ 0.82
$ 1.80
$ 1.57
Diluted
$ 0.89
$ 0.81
$ 1.79
$ 1.55
Average common stock and common equivalent shares outstanding:
Basic
248.2
247.2
248.0
247.1
Diluted
249.9
249.3
250.0
249.1
This information is presented for reference only.
VERALTO CORPORATION
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
Reconciliation of GAAP to Non-GAAP Financial Measures
($ in millions)
Three-Month Period Ended July 4, 2025
Sales
Operatingprofit
Operatingprofit margin
Net earnings forcalculation ofdiluted netearnings percommon share
Diluted netearnings percommonshare
Reported (GAAP)
$ 1,371
$ 313
22.8 %
$ 222
$ 0.89
Amortization of acquisition-related intangible assets A
—
9
0.7
9
0.04
Other items B
—
3
0.2
3
0.01
Tax effect of the above adjustments C
—
—
—
(2)
(0.01)
Adjusted (Non-GAAP)
$ 1,371
$ 325
23.7 %
$ 232
$ 0.93
Three-Month Period Ended June 28, 2024
Sales
Operatingprofit
Operatingprofit margin
Net earnings forcalculation ofdiluted netearnings percommon share
Diluted netearnings percommon
share
Reported (GAAP)
$ 1,288
$ 299
23.2 %
$ 203
$ 0.81
Amortization of acquisition-related intangible assets A
—
10
0.8
10
0.04
Tax effect of the above adjustments C
—
—
—
(3)
(0.01)
Discrete tax adjustments D
—
—
—
3
0.01
Adjusted (Non-GAAP)
$ 1,288
$ 309
24.0 %
$ 213
$ 0.85
VERALTO CORPORATIONRECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
Notes to Reconciliation of GAAP to Non-GAAP Financial Measures
($ in millions)
A
Amortization of acquisition-related intangible assets in the following historical periods (only the pretax amounts set forth below are reflected in the amortization line item above):
Three-Month Period Ended
July 4, 2025
June 28, 2024
Pretax
$ 9
$ 10
After-tax
7
7
B
Costs incurred in the three-month period ended July 4, 2025 related to certain strategic initiatives ($3 million pretax and after-tax as reported in this line item).
C
This line item reflects the aggregate tax effect of all nontax adjustments reflected in the preceding line items of the table. In addition, the footnotes above indicate the after-tax amount of each individual adjustment item. Veralto estimates the tax effect of each adjustment item by applying Veralto's overall estimated effective tax rate to the pretax amount, unless the nature of the item and/or the tax jurisdiction in which the item has been recorded requires application of a specific tax rate or tax treatment, in which case the tax effect of such item is estimated by applying such specific tax rate or tax treatment.
D
Discrete tax matters relate to changes in estimates associated with prior period uncertain tax positions, audit settlements and excess tax benefits from stock-based compensation.
VERALTO CORPORATIONRECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
Sales Growth by Segment, Core Sales Growth by Segment
% Change Three-Month Period Ended July 4, 2025 vs.Comparable 2024 Period
Segments
Total Company
Water Quality
Product Qualityand Innovation
Total sales growth (GAAP)
6.4 %
6.2 %
6.8 %
Impact of:
Acquisitions/divestitures
(0.1) %
(0.1) %
— %
Currency exchange rates
(1.5) %
(1.1) %
(2.2) %
Core sales growth (non-GAAP)
4.8 %
5.0 %
4.6 %
VERALTO CORPORATIONRECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
Forecasted Core Sales Growth, Adjusted Operating Profit Margin, Adjusted Diluted Net Earnings per Share and Free Cash Flow to Net Earnings Conversion Ratio
The Company provides forecasted sales only on a non-GAAP basis because of the difficulty in estimating the other components of GAAP revenue, such as currency translation, acquisitions and divested product lines. Additionally, we do not reconcile adjusted operating profit margin (or components thereof), adjusted diluted earnings per share or free cash flow to net earnings conversion ratio to the comparable GAAP measures because of the difficulty in estimating the other unknown components such as investment gains and losses, impairments and separation costs, which would be reflected in any forecasted GAAP operating profit, forecasted diluted earnings per share or forecasted net earnings ratio.
% Change Three-MonthPeriod Ending October 3,2025 vs. Comparable 2024Period
Core sales growth (non-GAAP)
+Mid-single-digits
Three-Month Period EndingOctober 3, 2025
Adjusted Diluted Net Earnings per Share (non-GAAP)
$0.91 to $0.95
% Change Year EndingDecember 31, 2025 vs.Comparable 2024 Period
Core sales growth (non-GAAP)
+Mid-single-digits
Year Ending December 31, 2025
Adjusted Operating Profit Margin (non-GAAP)
flat to +50 basis points
Adjusted Diluted Net Earnings per Share (non-GAAP)
$3.72 to $3.80
Free cash flow to net earnings conversion ratio (non-GAAP)
90% to 100%
VERALTO CORPORATIONRECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
Cash Flow and Free Cash Flow
($ in millions)
Three-Month Period Ended
July 4, 2025
June 28, 2024
Year-over-YearChange
Total Cash Flows:
Net cash provided by operating activities (GAAP)
$ 339
$ 251
Total cash used in investing activities (GAAP)
$ (40)
$ (11)
Total cash used in financing activities (GAAP)
$ (15)
$ (13)
Free Cash Flow:
Total cash provided by operating activities (GAAP)
$ 339
$ 251
~ 35.0 %
Less: payments for additions to property, plant & equipment (capital expenditures) (GAAP)
(16)
(11)
Free cash flow (non-GAAP)
$ 323
$ 240
~ 34.5 %
We define free cash flow as operating cash flows, less payments for additions to property, plant and equipment ('capital expenditures') plus the proceeds from sales of plant, property and equipment ('capital disposals').
Statement Regarding Non-GAAP Measures
Each of the non-GAAP measures set forth above should be considered in addition to, and not as a replacement for or superior to, the comparable GAAP measure, and may not be comparable to similarly titled measures reported by other companies. Management believes that these measures provide useful information to investors by offering additional ways of viewing Veralto Corporation's ('Veralto' or the 'Company') results that, when reconciled to the corresponding GAAP measure, help our investors:
with respect to the profitability-related non-GAAP measures, understand the long-term profitability trends of our business and compare our profitability to prior and future periods and to our peers;
with respect to core sales and related sales measures, identify underlying growth trends in our business and compare our sales performance with prior and future periods and to our peers; and
with respect to free cash flow and related cash flow measures (the 'FCF Measure'), understand Veralto's ability to generate cash without external financings, strengthen its balance sheet, invest in its business and grow its business through acquisitions and other strategic opportunities (although a limitation of free cash flow is that it does not take into account the Company's non-discretionary expenditures, and as a result the entire free cash flow amount is not necessarily available for discretionary expenditures).
Management uses these non-GAAP measures to measure the Company's operating and financial performance.
The items excluded from the non-GAAP measures set forth above have been excluded for the following reasons:
Amortization of Intangible Assets: We exclude the amortization of acquisition-related intangible assets because the amount and timing of such charges are significantly impacted by the timing, size, number and nature of the acquisitions we consummate. While we have a history of significant acquisition activity, we do not acquire businesses on a predictable cycle, and the amount of an acquisition's purchase price allocated to intangible assets and related amortization term are unique to each acquisition and can vary significantly from acquisition to acquisition. Exclusion of this amortization expense facilitates more consistent comparisons of operating results over time between our newly acquired and long-held businesses, and with both acquisitive and non-acquisitive peer companies. We believe however that it is important for investors to understand that such intangible assets contribute to sales generation and that intangible asset amortization related to past acquisitions will recur in future periods until such intangible assets have been fully amortized.
Restructuring Charges: We exclude costs incurred pursuant to discrete restructuring plans that are fundamentally different (in terms of the size, strategic nature and planning requirements, as well as the inconsistent frequency, of such plans) from the ongoing productivity improvements that result from application of the Veralto Enterprise System. Because these restructuring plans are incremental to the core activities that arise in the ordinary course of our business and we believe are not indicative of Veralto's ongoing operating costs in a given period, we exclude these costs to facilitate a more consistent comparison of operating results over time.
Other Adjustments: With respect to the other items excluded from the profitability-related non-GAAP measures, we exclude these items because they are of a nature and/or size that occur with inconsistent frequency, occur for reasons that may be unrelated to Veralto's commercial performance during the period and/or we believe that such items may obscure underlying business trends and make comparisons of long-term performance difficult.
With respect to core operating profit margin changes, in addition to the explanation set forth in the bullets above relating to 'restructuring charges' and 'other adjustments', we exclude the impact of businesses owned for less than one year (or disposed of during such period and not treated as discontinued operations) because the timing, size, number and nature of such transactions can vary significantly from period to period and may obscure underlying business trends and make comparisons of long-term performance difficult.
With respect to core sales related measures, (1) we exclude the impact of currency translation because it is not under management's control, is subject to volatility and can obscure underlying business trends, and (2) we exclude the effect of acquisitions and divested product lines because the timing, size, number and nature of such transactions can vary significantly from period-to-period and between us and our peers, which we believe may obscure underlying business trends and make comparisons of long-term performance difficult.
With respect to the FCF Measure, we exclude payments for additions to property, plant and equipment (net of the proceeds from capital disposals) to demonstrate the amount of operating cash flow for the period that remains after accounting for the Company's capital expenditure requirements.
Amortization of Intangible Assets: We exclude the amortization of acquisition-related intangible assets because the amount and timing of such charges are significantly impacted by the timing, size, number and nature of the acquisitions we consummate. While we have a history of significant acquisition activity, we do not acquire businesses on a predictable cycle, and the amount of an acquisition's purchase price allocated to intangible assets and related amortization term are unique to each acquisition and can vary significantly from acquisition to acquisition. Exclusion of this amortization expense facilitates more consistent comparisons of operating results over time between our newly acquired and long-held businesses, and with both acquisitive and non-acquisitive peer companies. We believe however that it is important for investors to understand that such intangible assets contribute to sales generation and that intangible asset amortization related to past acquisitions will recur in future periods until such intangible assets have been fully amortized.
Restructuring Charges: We exclude costs incurred pursuant to discrete restructuring plans that are fundamentally different (in terms of the size, strategic nature and planning requirements, as well as the inconsistent frequency, of such plans) from the ongoing productivity improvements that result from application of the Veralto Enterprise System. Because these restructuring plans are incremental to the core activities that arise in the ordinary course of our business and we believe are not indicative of Veralto's ongoing operating costs in a given period, we exclude these costs to facilitate a more consistent comparison of operating results over time.
Other Adjustments: With respect to the other items excluded from the profitability-related non-GAAP measures, we exclude these items because they are of a nature and/or size that occur with inconsistent frequency, occur for reasons that may be unrelated to Veralto's commercial performance during the period and/or we believe that such items may obscure underlying business trends and make comparisons of long-term performance difficult.
With respect to core operating profit margin changes, in addition to the explanation set forth in the bullets above relating to 'restructuring charges' and 'other adjustments', we exclude the impact of businesses owned for less than one year (or disposed of during such period and not treated as discontinued operations) because the timing, size, number and nature of such transactions can vary significantly from period to period and may obscure underlying business trends and make comparisons of long-term performance difficult.
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ABB's pad-mounted switchgear is extensively used by utilities, renewable energy providers, transportation sectors, industrial parks, and critical infrastructure, helping clients improve network efficiency and minimize outage durations. The company places a strong emphasis on digitalization and grid automation, aligning its switchgear products with Industry 4.0 trends and energy transition efforts. ABB has invested heavily in R&D to develop eco-friendly, compact switchgear solutions that meet evolving global standards for emissions and safety. With a robust manufacturing and service presence across key regions, ABB remains a preferred supplier for large-scale grid modernization, urban infrastructure enhancements, and renewable energy projects. For more information, Inquire Now! Related Reports: Switchgear Market Gas Insulated Switchgear Market Get access to the latest updates on Pad-mounted Switchgear Companies and Pad-mounted Switchgear Industry About MarketsandMarkets™: MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts. To find out more, visit or follow us on Twitter, LinkedIn and Facebook. Contact:Mr. Rohan SalgarkarMarketsandMarkets™ INC.1615 South Congress 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: sales@ Our Website: Logo: View original content:
Malaysian Reserve
4 hours ago
- Malaysian Reserve
isinwheel Champions Smart and Stylish Rides for Students in New Back-to-School Campaign
BERLIN, July 29, 2025 /PRNewswire/ — isinwheel, a leading innovator in electric mobility solutions, has officially launched its Back-to-School campaign across Europe. Running from July 23 to September 10, 2025, this initiative aims to inspire students of all ages to kick off the new academic year with fresh and stylish transportation options. Among the highlights is the isinwheel S9Max Electric Scooter. Engineered for adults seeking both performance and convenience, this model boasts a robust 500W front motor that propels it to a top speed of 21.7 mph while effortlessly conquering inclines up to 20%. The S9Max is equipped with a powerful 36V 10Ah battery that provides an impressive range of up to 25 miles on a single charge, taking only three to six hours for full recharging. Its high-quality aluminum alloy frame and puncture-resistant honeycomb tires ensure stability during rides, making it ideal for daily commutes or weekend adventures. For those who prefer cycling as their mode of transport, the isinwheel U3 Foldable Electric Bike presents an excellent option. This bike features a collapsible frame paired with a convenient carrying handle for effortless portability. With front wheel suspension and a padded seat ensuring comfort on every journey, the U3 is perfect for navigating city streets or commuting between classes without exerting excessive energy thanks to its pedal-assist feature. Safety remains paramount; thus, it includes bright headlights and taillights suitable for early morning or evening rides. Younger students can also join in on the fun with isinwheel's S7 Glow Adjustable Kids E-Scooter. Featuring vibrant lighting effects combined with safety-focused design elements makes this scooter perfect not just for school commutes but also after-school playtime at parks or neighborhoods. Many schools allow students access campus grounds using scooters like these, making them ideal companions during short trips around school. isinwheel offers fantastic deals for families gearing up for the academic year. Discounts of up to 60% are available on select models, including special pricing on the S9Max and U3. Additional savings can be found when purchasing multiple units, such as a bundle of two S7 scooters that includes complimentary protective gear. In addition to sitewide discounts reaching up to £150, verified students can access exclusive additional savings. For more information about isinwheel, please visit: Website: YouTube: Facebook: Facebook Group: Instagram: X: Photo – View original content:
