Veralto二季度业绩超预期并上调全年调整后EPS指引，但盘后已快速重定价

WALTHAM, Mass., July 28, 2026 /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 second quarter ended July 3, 2026.
Key Second Quarter 2026 Results:
- Sales increased 7.6% year-over-year to $1,474 million, with non-GAAP core sales growth of 4.2%
- Operating profit margin was 21.4% and non-GAAP adjusted operating profit margin was 24.6%
- Net earnings were $241 million, or $0.98 per diluted common share
- Non-GAAP, adjusted net earnings were $274 million, or $1.11 per diluted common share
- Operating cash flow was $340 million and non-GAAP free cash flow was $328 million
- These second quarter results include benefits from recoveries of tariffs previously collected under the International Emergency Economic Powers Act ("IEEPA") of approximately $0.05 per share
"In the second quarter, total sales grew approximately 8%, adjusted earnings per share increased 19%, and we generated robust free cash flow. We delivered 4.2% core sales growth year-over-year, led by Water Quality at 5.7%, with sequential acceleration in both segments. We continue to advance long-term value creation through strategic bolt-on acquisitions – including In-Situ, GlobalVision and, most recently, Alfaa UV – as well as opportunistic share repurchases. These actions reflect the accelerating growth profile of our portfolio, our VES-driven execution and commitment to disciplined capital allocation," said Jennifer L. Honeycutt, President and Chief Executive Officer.
Honeycutt continued, "In Water Quality, we continue to benefit from strong demand across industrial water treatment, water reuse initiatives and environmental water monitoring workflows. Demand for water analytics supporting the daily operations of our municipal customers remains steady. In PQI, demand also remains steady for our marking and coding solutions, while our digital workflow solutions in packaging and color continue to deliver strong underlying growth. We expect PQI core sales growth to accelerate meaningfully in the second half, driven by increasing adoption of digital workflow solutions and contributions from recent product launches."
"Looking ahead, we expect total year-over-year core sales growth to accelerate to approximately 5% to 6% in the second half of the year. Reflecting this momentum and our strong first half performance, we increased our full-year adjusted earnings per share guidance to $4.35 to $4.43, representing 12% to 14% year-over-year growth. Supported by a strong balance sheet and robust cash generation, we remain focused on compounding long-term shareholder value through high-quality growth, VES-driven execution and disciplined capital allocation," concluded Honeycutt.
2026 Guidance
The Company provides forecasted sales guidance 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 third quarter of 2026, the Company anticipates non-GAAP core sales growth in the range of 4.0% to 5.0% year-over-year with adjusted operating profit margin expansion of approximately 25 basis points year-over-year. The Company's third quarter adjusted diluted earnings per share guidance is in the range of $1.06 to $1.09 per share.
For the full year 2026, the Company raised its non-GAAP core sales growth to a range of 4.0% to 4.5% year-over-year, up from the prior guidance range of 3.0% to 4.5%. Adjusted operating profit margin is expected to expand 25 to 50 basis points year-over-year, including the benefit of IEEPA tariff refunds received in the second quarter. The Company raised its guidance for adjusted diluted earnings to a range of $4.35 to $4.43 per share, up from the prior guidance range of $4.20 to $4.28 per share. This includes a $0.05 per share benefit related to IEEPA tariff refunds received in the second quarter. Free cash flow conversion guidance has been increased to greater than 100% of GAAP net earnings.
Conference Call and Webcast Information
Veralto will webcast its second quarter 2026 earnings conference call tomorrow starting at 7:30 a.m. (ET). Access to the webcast, slide presentation and prepared remarks 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 (833) 309-3473 (U.S.) or +1 (785) 838-9251 (INTL) (Conference ID: VLTO2Q26). A replay of the conference call will be available shortly after the conclusion of the call and until August 7, 2026. 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 approximately $5.5 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 approximately 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 third quarter and full year 2026 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, asset values, pricing, tax rates, tax provisions, cash flows, pension and benefit obligations and funding requirements, Veralto's liquidity position or other projected financial measures; Veralto's management's plans and strategies for future operations, including statements relating to anticipated operating performance, customer demand, cost reductions, restructuring activities, new product and service developments, competitive strengths or market position, acquisitions and the integration thereof, divestitures, spin-offs, split-offs, initial public offerings, other securities offerings or other distributions, strategic opportunities, stock repurchases, dividends and executive compensation; growth, declin