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Veralto (VLTO) investor relations material
Veralto Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 sales rose 6.4% year-over-year to $1.37B, with core sales up 4.8% and strong growth in both Water Quality and Product Quality & Innovation segments.
Adjusted EPS increased 9.4% to $0.93, net earnings reached $222M, and adjusted net earnings were $232M.
Free cash flow for Q2 was $323M, up over 34% year-over-year, with free cash flow conversion at 145%.
Raised full-year 2025 adjusted EPS guidance to $3.72–$3.80 and core sales growth to mid single digits, reflecting strong first-half performance.
Recurring revenue comprised 61% of total sales, supporting a resilient business model.
Financial highlights
Gross profit for Q2 was $822M, with a 60% gross margin; adjusted operating profit margin was 23.7%.
Adjusted operating profit rose 5.2% to $325M; operating profit margin was 22.8%.
Adjusted diluted EPS grew to $0.93 from $0.85 year-over-year.
Cash and cash equivalents at quarter-end were $1.6B, with net debt at $1.1B and gross debt at $2.67B.
Operating cash flow for the six months was $496M, up 36% year-over-year.
Outlook and guidance
Q3 2025 core sales expected to grow mid single digits; adjusted EPS guidance set at $0.91–$0.95.
Full-year 2025 adjusted EPS guidance raised to $3.72–$3.80; core sales growth projected at mid single digits.
Free cash flow conversion guidance maintained at 90–100% of GAAP net income.
Guidance incorporates estimated tariff increases, countermeasures, and currency impacts.
Expectation for adjusted operating profit margin expansion of flat to +50 basis points year-over-year.
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