Vontier (VNT) shares were up 8.5% in recent Thursday trading after the company posted forecast-beating Q3 adjusted earnings and sales.
The industrial technology company earlier reported Q3 adjusted earnings of $0.73 per diluted share, unchanged from a year earlier.
Analysts polled by Capital IQ expected $0.69.
Sales for the quarter ended Sept. 27 were $750 million, down from $765.4 million a year earlier.
Analysts surveyed by Capital IQ expected $729.2 million.
For Q4, the company expects an adjusted diluted EPS of about $0.79. Analysts polled by Capital IQ expect $0.79. Sales for the quarter are expected to be about $770 million. Analysts surveyed by Capital IQ expect $764.1 million.
For 2024, Vontier said it now expects adjusted diluted EPS of $2.86 to $2.92, compared with its prior guidance of $2.80 to $3. Analysts polled by Capital IQ expect $2.85.
Sales for the year are now expected to be between $2.96 billion and $2.99 billion, compared with its earlier expectation of $2.90 billion to $3 billion. Analysts surveyed by Capital IQ expect $2.95 billion.
Price: 36.99, Change: +2.91, Percent Change: +8.54
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