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Veralto 8-K Report, Financial Results (Feb 4, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed February 4, 2025
Period End
February 4, 2025
Security
VLTO
In the record · 2023–202610-K310-Q108-K28

VLTO filed 3 annual reports (10-K), 10 quarterly reports (10-Q) and 28 current reports (8-K) between 2023 and 2026.

  1. Change in control8-K · Oct ’23Oct ’23
  2. Leadership change8-K · Jul ’24Jul ’24
  3. Material agreement8-K · Jun ’26Jun ’26

01—Abstract

Summary

Summary of the 8-K filed February 4, 2025. Cited figures are marked; the original filing is the authoritative source.

Veralto Corporation (NYSE: VLTO) reported results for the fourth quarter and full year ended December 31, 2024, furnished under Item 2.02 via Exhibit 99.1.

For Q4 2024, sales increased 4.4% year-over-year to $1,345 milliona with non-GAAP core sales growth of 4.6%. GAAP net earnings were $227 million, or $0.91 per diluted share, while non-GAAP adjusted net earnings were $238 million, or $0.95 per diluted share. Operating cash flow was $285 million and non-GAAP free cash flow was $263 million.

For full year 2024, sales increased 3.4% year-over-year to $5,193 millionb, with non-GAAP core sales growth of 3.7%. Net earnings were $833 million, or $3.34 per diluted share, and non-GAAP adjusted net earnings were $883 million, or $3.54 per diluted share. Operating cash flow was $875 million and non-GAAP free cash flow was $820 million.

The company stated that full-year results exceeded its initial guidance for core sales growth, margin expansion and adjusted EPS, and cited the acquisition of TraceGains during the quarter. For 2025, Veralto targets low-to-mid single digit core sales growth, adjusted operating profit margin expansion of 25 to 50 basis points, and adjusted diluted EPS of $3.60 to $3.70c, with free cash flow conversion of 90% to 100% of GAAP net earnings. First-quarter 2025 guidance calls for adjusted diluted EPS of $0.84 to $0.88 and an adjusted operating profit margin of 24.0% to 24.5%.

02—Key points

Key Highlights

  1. Q4 2024 sales rose 4.4% year-over-year to $1,345 million, with non-GAAP core sales growth of 4.6%; both segments posted mid-single-digit core sales growth.
  2. Full-year 2024 sales rose 3.4% to $5,193 million, with non-GAAP core sales growth of 3.7%; Water Quality sales were $3,138 million and Product Quality & Innovation sales were $2,055 million.
  3. Full-year 2024 GAAP diluted EPS was $3.34, and non-GAAP adjusted diluted EPS was $3.54; operating profit margin was 23.3% GAAP and 24.1% adjusted.
  4. Full-year 2024 operating cash flow was $875 million and non-GAAP free cash flow was $820 million, versus $911 million free cash flow in 2023.
  5. Cash and equivalents rose to $1,101 million at December 31, 2024, from $762 million a year earlier, while long-term debt was $2,599 million.
  6. 2025 guidance calls for low-to-mid single digit core sales growth, a 25 to 50 basis point margin expansion, and adjusted diluted EPS of $3.60 to $3.70.
  7. Management highlighted the acquisition of TraceGains and a bias toward acquisitions that enhance its ability to help customers deliver clean water, safe food and trusted essential goods.

03—Questions

Frequently Asked Questions

  1. How did Veralto perform in the fourth quarter of 2024?

    Sales increased 4.4% year-over-year to $1,345 million, with non-GAAP core sales growth of 4.6%. GAAP diluted EPS was $0.91, and non-GAAP adjusted diluted EPS was $0.95, with an adjusted operating profit margin of 23.8%.

  2. What is the company's 2025 outlook?

    For full-year 2025, Veralto anticipates low-to-mid single digit core sales growth, adjusted operating profit margin expansion of 25 to 50 basis points, and adjusted diluted EPS of $3.60 to $3.70, with free cash flow conversion of 90% to 100% of GAAP net earnings.

  3. What is the first-quarter 2025 guidance?

    For the quarter ending April 4, 2025, Veralto expects low-to-mid single digit core sales growth, an adjusted operating profit margin of 24.0% to 24.5%, and adjusted diluted EPS of $0.84 to $0.88.

  4. How did free cash flow change in 2024?

    Non-GAAP free cash flow was $820 million in 2024, compared with $911 million in 2023. Operating cash flow fell to $875 million from $963 million, and dividend payments of $89 million were made in 2024.

  5. What drove demand in 2024 according to management?

    CEO Jennifer L. Honeycutt said demand strengthened throughout 2024, highlighted by industrial water treatment in North America and the recovery of consumer-packaged goods markets globally.

04—Continue

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