Vontier Corporation Provides Earnings Guidance for the Fourth Quarter and Year Ended December 31, 2020
January 13, 2021 at 02:37 am IST
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Vontier Corporation provided earnings guidance for the fourth quarter and year ended December 31, 2020. For the three months ended December 31, 2020, based on preliminary results, the company estimates total sales to be between $810 million and $820 million as compared to $743 million for the three months ended December 31, 2019, or an approximately 9% increase (based on the midpoint of the range) compared to the three months ended December 31, 2019, primarily driven by high single digit growth from existing businesses. The company estimates operating profit for the three months ended December 31, 2020 to be between $175 million and $181 million as compared to $163 million for the three months ended December 31, 2019, or an approximately 9% increase (based on the midpoint of the range) compared to the three months ended December 31, 2019.
For the year ended December 31, 2020, the company estimates total sales to be between $2,700 million and $2,710 million. The company estimates operating profit to be between $465 million and $471 million.
Vontier Corporation is a global industrial technology company uniting productivity, automation, and multi-energy technologies to meet the needs of a rapidly evolving, more connected mobility ecosystem. The Company operates through three segments. The Mobility Technologies segment provides digitally enabled equipment and solutions to support efficient operations across the mobility ecosystem, including point-of-sale and payment systems, workflow automation solutions, telematics, data analytics, software platform for electric vehicle charging networks, and integrated solutions for alternative fuel dispensing. Its Repair Solutions segment manufactures and distributes aftermarket vehicle repair tools, toolboxes, automotive diagnostic equipment, and software through a network of mobile franchisees. The Environmental & Fueling Solutions segment provides environmental and fueling hardware and software, and aftermarket solutions for global fueling infrastructure.