Veralto Reports Fourth Quarter and Full Year 2025 Results

, /PRNewswire/ -- Veralto (NYSE: VLTO) (the "Company"), a global leader in essential water and product quality solutions dedicated to Safeguarding the World's Most Vital Resources™ announced results for the fourth quarter ended December 31, 2024. Key Fourth Quarter 2024 Results Sales increased 4.4% year-over-year to $1,345 million, with non-GAAP core sales growth of 4.6% Operating profit margin was 22.9% and non-GAAP adjusted operating profit margin was 23.8% Net earnings were $227 million, or $0.91 per diluted common share Non-GAAP, adjusted net earnings were $238 million, or $0.95 per diluted common share Operating cash flow was $285 million and non-GAAP free cash flow was $263 million Key Full Year 2024 Results Sales increased 3.4% year-over-year to $5,193 million, with non-GAAP core sales growth of 3.7% Operating profit margin was 23.3% and non-GAAP adjusted operating profit margin was 24.1% Net earnings were $833 million, or $3.34 per diluted common share Non-GAAP, adjusted net earnings were $883 million, or $3.54 per diluted common share Operating cash flow was $875 million and non-GAAP free cash flow was $820 million "Our fourth quarter results were highlighted by mid-single-digit core sales growth across both segments, robust cash generation and the acquisition of TraceGains," said Jennifer L. Honeycutt, President and Chief Executive Officer. "This capped off a strong full-year performance in which our talented team, powered by the Veralto Enterprise System, executed well on our strategic priorities and delivered core sales growth, margin expansion and adjusted earnings per share above our initial guidance." Honeycutt continued, "From an end market perspective, demand continued to strengthen throughout 2024 highlighted by industrial water treatment in North America and the recovery of consumer-packaged goods markets globally." "We begin 2025 with a stronger financial position and a more positive view of our end markets relative to 2024. We believe the durability of our businesses, fortified by the Veralto Enterprise System, will enable us to successfully navigate a globally dynamic macroeconomic environment. For the full year 2025, we are targeting low-to-mid single digit core sales growth with another year of margin expansion and strong cash generation. Over the long term, we expect to drive value creation through disciplined capital allocation, with a bias towards acquisitions that enhance our ability to help customers deliver clean water, safe food and trusted essential goods," 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. For the first quarter of 2025, Veralto anticipates that non-GAAP core sales will grow low-to-mid-single digits year-over-year with adjusted operating profit margin between 24.0% and 24.5% and adjusted diluted earnings per share in the range of $0.84 to $0.88 per share. For the full year 2025, the Company anticipates that non-GAAP core sales will grow low-to-mid-single digits year-over-year and that adjusted operating profit margin will expand 25 to 50 basis points year-over-year. The Company is targeting adjusted diluted earnings per share in the range of $3.60 to $3.70 with free cash flow conversion in the range of 90% to 100% of GAAP net earnings. Conference Call and Webcast Information Veralto will discuss its fourth 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: VLTO4Q24). A replay of the conference call will be available shortly after the conclusion of the call and until February 19, 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 the statement regarding the Company's anticipated first quarter and full year 2025 financial performance, 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, tax rates, tax provisions, cash flows, pension and benefit obligations and funding requirements, Veralto's liquidity position or other financial measures; Veralto's management's plans and strategies for future operations, including statements relating to anticipated operating performance, cost reductions, restructuring activities, new product and service developments, competitive strengths or market position, acquisitions and the integration thereof, divestitures, spin-offs, split-offs or other distributions, strategic opportunities, securities offerings, stock repurchases, dividends and executive compensation; the effects of the separation or the distribution on Veralto's business; growth, declines and other trends in markets Veralto sells into; new or modified laws, regulations and accounting pronouncements; future regulatory approvals and the timing thereof; outstanding claims, legal proceedings, tax audits and assessments and other contingent liabilities; future foreign currency exchange rates and fluctuations in those rates; 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 BALANCE SHEETS ($ in millions) (unaudited) As of December 31 2024 2023 ASSETS Current assets: Cash and equivalents $ 1,101 $ 762 Trade accounts receivable, less allowance for credit losses of $37 and $36, respectively 812 826 Inventories 288 297 Prepaid expenses and other current assets 186 188 Total current assets 2,387 2,073 Property, plant and equipment, net 268 262 Other long-term assets 523 398 Goodwill 2,693 2,533 Other intangible assets, net 535 427 Total assets $ 6,406 $ 5,693 LIABILITIES AND EQUITY Current liabilities: Trade accounts payable 395 431 Accrued expenses and other liabilities 850 834 Total current liabilities 1,245 1,265 Other long-term liabilities 517 410 Long-term debt 2,599 2,629 Total equity 2,045 1,389 Total liabilities and equity $ 6,406 $ 5,693 This information is presented for reference only. Final audited financial statements will include footnotes, which should be referenced when available, to more fully understand the contents of this information. VERALTO CORPORATION CONSOLIDATED AND COMBINED STATEMENTS OF EARNINGS ($ and shares in millions, except per share amounts) (unaudited) Three-Month Period Ended December 31 Year Ended December 31 2024 2023 2024 2023 Sales $ 1,345 $ 1,288 $ 5,193 $ 5,021 Cost of sales (544) (542) (2,088) (2,120) Gross profit 801 746 3,105 2,901 Operating costs: Selling, general and administrative expenses (424) (403) (1,644) (1,536) Research and development expenses (69) (57) (253) (225) Operating profit 308 286 1,208 1,140 Non-operating income (expense): Other income (expense) — — (9) (14) Interest expense, net (28) (25) (113) (30) Earnings before income taxes 280 261 1,086 1,096 Income taxes (53) (61) (253) (257) Net earnings $ 227 $ 200 $ 833 $ 839 Net earnings per share: Basic $ 0.92 $ 0.81 $ 3.37 $ 3.41 Diluted $ 0.91 $ 0.81 $ 3.34 $ 3.40 Average common stock and common equivalentshares outstanding: Basic 247.6 246.6 247.3 246.4 Diluted 250.3 248.2 249.6 246.8 This information is presented for reference only. Final audited financial statements will include footnotes, whichshould be referenced when available, to more fully understand the contents of this information. VERALTO CORPORATION CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF CASH FLOWS ($ in millions) (unaudited) Year Ended December 31 2024 2023 Cash flows from operating activities: Net earnings $ 833 $ 839 Noncash items: Depreciation 40 39 Amortization of intangible assets 38 48 Stock-based compensation expense 65 55 Loss on product line disposition 15 — Impairment of equity method investment — 15 Changes in operating assets and liabilities (116) (33) Net cash provided by operating activities 875 963 Cash flows from investing activities: Cash paid for acquisitions, net of cash acquired (363) — Payments for additions to property, plant and equipment (55) (54) Proceeds from sales of property, plant and equipment — 2 All other investing activities (16) (3) Net cash used in investing activities (434) (55) Cash flows from financing activities: Proceeds from the issuance of common stock in connection with stock-based compensation 24 4 Net transfers to Former Parent — (147) Consideration paid to Former Parent in connection with Separation — (2,600) Payment of dividends (89) — Proceeds from borrowings (maturities longer than 90 days) — 2,608 Net cash used in financing activities (65) (135) Effect of exchange rate changes on cash and cash equivalents (37) (11) Net change in cash and cash equivalents 339 762 Beginning balance of cash and cash equivalents 762 — Ending balance of cash and cash equivalents $ 1,101 $ 762 This information is presented for reference only. Final audited financial statements will include footnotes, which should be referenced when available, to more fully understand the contents of this information. VERALTO CORPORATION SEGMENT INFORMATION ($ in millions) (unaudited) Three-Month Period Ended December 31 Year Ended December 31 2024 2023 2024 2023 Sales: Water Quality $ 811 $ 782 $ 3,138 $ 3,039 Product Quality & Innovation 534 506 2,055 1,982 Total $ 1,345 $ 1,288 $ 5,193 $ 5,021 Operating profit: Water Quality $ 204 $ 194 $ 768 $ 730 Product Quality & Innovation 124 116 529 472 Other (20) (24) (89) (62) Total $ 308 $ 286 $ 1,208 $ 1,140 Operating Profit Margin: Water Quality 25.2 % 24.8 % 24.5 % 24.0 % Product Quality & Innovation 23.2 % 22.9 % 25.7 % 23.8 % Total 22.9 % 22.2 % 23.3 % 22.7 % VERALTO CORPORATION RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES Reconciliation of GAAP to Non-GAAP Financial Measures ($ in millions) Three-Month Period Ended December 31, 2024 Sales Operating profit Operating profit margin Net earnings for calculation of dilutedearnings per common share Diluted net earnings per common share Reported (GAAP) $ 1,345 $ 308 22.9 % $ 227 $ 0.91 Amortization of acquisition-relatedintangible assets A — 10 0.7 10 0.04 Other items B — 2 0.1 2 0.01 Tax effect of the above adjustments H — — — (2) (0.01) Discrete tax adjustments I — — — 1 — Rounding — — 0.1 — — Adjusted (Non-GAAP) $ 1,345 $ 320 23.8 % $ 238 $ 0.95 Three-Month Period Ended December 31, 2023 Sales Operating profit Operating profit margin Net earnings for calculation of diluted earnings per common share Diluted net earnings per common share Reported (GAAP) $ 1,288 $ 286 22.2 % $ 200 $ 0.81 Amortization of acquisition-related intangible assets A — 12 0.9 12 0.05 Other items B — 1 0.1 1 — Separation costs C — 7 0.5 7 0.03 Tax effect of the above adjustments H — — — (5) (0.02) Rounding — — 0.1 — — Adjusted (Non-GAAP) $ 1,288 $ 306 23.8 % $ 215 $ 0.87 Year Ended December 31, 2024 Sales Operating profit Operating profit margin Net earnings for calculation of diluted earnings per common share Diluted net earnings percommon share Reported (GAAP) $ 5,193 $ 1,208 23.3 % $ 833 $ 3.34 Amortization of acquisition-relatedintangible assets A — 38 0.7 38 0.15 Other items B — 4 0.1 4 0.02 Separation costs C — 1 — 1 — Net loss on disposition of certainproduct lines D — — — 10 0.04 Tax effect of the above adjustments H — — — (9) (0.04) Discrete tax adjustments I — — — 6 0.02 Rounding — — — — 0.01 Adjusted (Non-GAAP) $ 5,193 $ 1,251 24.1 % $ 883 $ 3.54 Year Ended December 31, 2023 Sales Operating profit Operating profitmargin Net earningsfor calculation of dilutedearnings percommon share Diluted net earningspercommon share Reported (GAAP) $ 5,021 $ 1,140 22.7 % $ 839 $ 3.40 Amortization of acquisition-relatedintangible assets A — 48 1.0 48 0.19 Other items B — 1 — 1 — Separation costs C — 7 0.1 7 0.03 Standalone Entity Adjustments E 6 (38) (0.8) (138) (0.56) Fair value losses on investments F — — — 15 0.06 Impairments and other charges G — 12 0.2 12 0.05 Tax effect of the above adjustments H — — — 15 0.06 Discrete tax adjustments I — — — (12) (0.05) Rounding — — 0.1 — 0.01 Adjusted (Non-GAAP) $ 5,027 $ 1,170 23.3 % $ 787 $ 3.19 VERALTO CORPORATIONRECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES Notes to Reconciliation of GAAP to Non-GAAP Financial Measures 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 Year Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Pretax $ 10 $ 12 $ 38 $ 48 After-tax 8 9 29 36 B Costs incurred during three-month period ended December 31, 2024 related to certain strategic initiatives ($2 million pretax and after-tax as reported in this line item). Costs incurred during the year ended December 31, 2024 related to certain strategic initiatives ($4 million pretax and after-tax as reported in this line item). Costs incurred during the three-month period ended and year ended December 31, 2023 related to strategic initiatives ($1 million pretax and after-tax as reported in these line items). C Costs incurred during the year ended December 31, 2024 related to the separation of the Company from Danaher primarily related to IT costs and certain regulatory fees ($1 million pretax as reported in this line item). Costs incurred during the three-month period ended and year ended December 31, 2023 related to the separation of the Company from Danaher primarily related to the equity award conversion as a result of the separation as well as other costs the Company incurred to separate from Danaher ($7 million pretax as reported in this line item, $5 million after-tax). D Net loss on the disposition of certain product lines during the year ended December 31, 2024 ($10 million pretax net loss as reported in this line item, $11 million after-tax). E This amount encompasses management estimates of operating as a standalone entity incurred during the year ended December 31, 2023 ($138 million pretax as reported in this line item, $103 million after-tax). The management estimate includes recurring and ongoing costs required to operate new functions required for a public company such as certain corporate functions including finance, tax, legal, human resources and other general and administrative related functions. The estimate also includes an adjustment to sales related to the impact of the framework agreement governing certain commercial arrangements between subsidiaries of Danaher and Veralto, the adjustment is calculated by applying the commercial pricing in the agreement to historical purchases of goods and services by the Former Parent from Veralto. F Fair value loss related to an impairment of an equity method investment in the Water Quality segment for the year ended December 31, 2023 ($15 million pretax as reported in this line item, $11 million after-tax). G Impairment charge related to tradenames and customer relationships in the Product Quality & Innovation segment for the year ended December 31, 2023 ($12 million pretax as reported in this line item, $10 million after-tax). H 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. I 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 CORPORATION RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES Sales Growth by Segment, Core Sales Growth by Segment % Change Three-Month Period Ended December 31, 2024 vs. Comparable 2023 Period Segments Total Company Water Quality Product Quality &Innovation Total sales growth (GAAP) 4.4 % 3.7 % 5.4 % Impact of: Acquisitions/divestitures (0.3) % 0.6 % (1.6) % Currency exchange rates 0.5 % 0.6 % 0.3 % Core sales growth (non-GAAP) 4.6 % 4.9 % 4.1 % % Change Year Ended December 31, 2024 vs. Comparable 2023 Period Segments Total Company Water Quality Product Quality &Innovation Total sales growth (GAAP) 3.4 % 3.2 % 3.7 % Impact of: Acquisitions/divestitures — % 0.3 % (0.4) % Currency exchange rates 0.3 % 0.4 % — % Core sales growth (non-GAAP) 3.7 % 3.9 % 3.3 % 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-Month PeriodEnding April 4, 2025 vs. Comparable 2024 Period Core sales growth (non-GAAP) +Low-to-mid-single digits Three-Month Period Ending April 4, 2025 Adjusted operating profit margin (non-GAAP) 24.0% to 24.5% Adjusted diluted net earnings per share (non-GAAP) $0.84 to $0.88 % Change Year Ending December 31, 2025 vs. Comparable 2024 Period Core sales growth (non-GAAP) +Low-to-mid-single digits Year Ending December 31, 2025 Adjusted operating profit margin (non-GAAP) +25 to 50 basis points Adjusted diluted net earnings per share (non-GAAP) $3.60 to $3.70 Free cash flow to net earnings conversion ratio (non-GAAP) 90% to 100% VERALTO CORPORATION RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES Cash Flow and Free Cash Flow ($ in millions) Three-Month Period Ended Year-over-Year Change Year Ended Year-over-Year Change December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Total Cash Flows: Net cash provided by operatingactivities (GAAP) $ 285 $ 263 $ 875 $ 963 Total cash used in investing activities (GAAP) $ (394) $ (22) $ (434) $ (55) Total cash provided by (used in) financing activities (GAAP) $ (16) $ 97 $ (65) $ (135) Free Cash Flow: Total cash provided byoperating activities (GAAP) $ 285 $ 263 ~8.5 % $ 875 $ 963 ~(9.0)% Less: payments for additions to property, plant & equipment (capital expenditures) (GAAP) (22) (22) (55) (54) Plus: proceeds from sales of property, plant & equipment (capital disposals) (GAAP) — — — 2 Free cash flow (non-GAAP) $ 263 $ 241 ~9.0 % $ 820 $ 911 ~(10.0)% Operating Cash Flow to Net Earnings Ratio (GAAP): Net cash provided by operating activities (GAAP) $ 285 $ 263 $ 875 $ 963 Net earnings (GAAP) $ 227 $ 200 $ 833 $ 839 Operating cash flow to net earnings conversion ratio 1.26 1.32 1.05 1.15 Free Cash Flow to NetEarnings Conversion Ratio(non-GAAP): Free cash flow from above (non-GAAP) $ 263 $ 241 $ 820 $ 911 Net earnings (GAAP) $ 227 $ 200 $ 833 $ 839 Free cash flow to net earnings conversion ratio (non-GAAP) 1.16 1.21 0.98 1.09 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. Standalone Adjustments: We believe these adjustments provide additional insight into how our businesses are performing, on a normalized basis. However, these non-GAAP financial measures should not be construed as inferring that our future results will be unaffected by the items for which the measure adjusts. 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. SOURCE Veralto WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Veralto Reports Fourth Quarter and Full Year 2025 Results

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