RALEIGH, N.C.--( BUSINESS WIRE)--Vontier Corporation (NYSE: VNT), a leading global provider of critical technologies and solutions to connect, manage and scale the mobility ecosystem, today announced results for the fourth quarter ended December 31, 2024.
Reported sales in the fourth quarter declined 1.5% year-over-year to $776.8 million, reflecting the absence of sales from divested businesses. Core sales increased 3.5% reflecting continued demand for retail fueling equipment and convenience retail payment and enterprise productivity solutions, partially offset by ongoing macroeconomic pressures on the car wash and auto repair markets. Operating profit of $149.3 million increased 2.0% from the prior year, and operating profit margin increased approximately 60 basis points, to 19.2%. Adjusted operating profit of $170.8 million declined 1.8% from the prior year and adjusted operating profit margin maintained at 22.0%. Net earnings were $123.5 million, and adjusted net earnings were $120.8 million, resulting in GAAP diluted net earnings per share of $0.82 and adjusted diluted net earnings per share of $0.80.
“Vontier delivered a solid finish to the year, reflecting disciplined operational execution and continued momentum within our Convenience Retail and Fueling end markets,” said Mark Morelli, President and Chief Executive Officer. “We made significant progress on our strategic initiatives throughout 2024 as evidenced by the traction we are seeing on recent innovations that deliver revenue growth and productivity for our customers. The investments we have made to accelerate growth in our own business are now delivering tangible results.”
“As we look ahead to 2025, I am confident in our ability to deliver on our commitments. Although the macroeconomic environment remains uncertain, we remain focused on capitalizing on end market demand and delivering innovative solutions our customers need. We have a significant opportunity to continue simplifying our business and transforming our portfolio to deliver on our margin expansion targets in the near and medium term. We remain committed to achieving top-tier financial performance and creating value for our customers, our shareholders and our employees.”
Segment Results
| Segment | Q4 2024 | Q4 2023 | Change |
|---|---|---|---|
| Mobility Technologies | $276.8 | $271.4 | 2.0% |
| Repair Solutions | $148.1 | $151.5 | (2.2%) |
| Environmental & Fueling Solutions | $367.7 | $339.0 | 8.5% |
The Company will discuss results and outlook during its quarterly investor conference call today starting at 8:30 a.m. ET. The call and an accompanying slide presentation will be webcast on the “Investors” section of Vontier’s website, www.vontier.com, under “Events & Presentations.” A replay of the webcast will be available shortly after the conclusion of the presentation.