Vontier Corporation Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 04:00 pm IST
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Vontier Corporation reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 764.4 million compared to USD 776.4 million a year ago. Net income was USD 97.3 million compared to USD 33.3 million a year ago. Basic earnings per share from continuing operations was USD 0.63 compared to USD 0.21 a year ago. Diluted earnings per share from continuing operations was USD 0.62 compared to USD 0.21 a year ago.
For the six months, sales was USD 1,540.8 million compared to USD 1,524.5 million a year ago. Net income was USD 180.1 million compared to USD 283.5 million a year ago. Basic earnings per share from continuing operations was USD 1.16 compared to USD 1.74 a year ago. Diluted earnings per share from continuing operations was USD 1.15 compared to USD 1.73 a year ago.
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.