Fri, Jul 26, 10:01 AM (43 days ago)
Veralto Corporation's Q2 2024 report shows a 2.8% increase in total sales to $1,288 million with core sales growth of 3.8%. The Water Quality segment saw a 2.8% increase in sales to $777 million, driven by North America, while Product Quality & Innovation increased 2.7% to $511 million, also led by North America. Gross profit margins improved to 60.1%, driven by pricing actions and lower material costs. Operating profit margins slightly increased to 23.2%, despite higher SG&A expenses due to standalone public company costs and growth initiatives. Net earnings decreased to $203 million from $209 million in Q2 2023, impacted by interest expenses and increased operating costs. The effective tax rate rose to 24.8%. Cash flow from operations was $366 million, down 20%, due to cash interest and tax payments. The company declared a quarterly dividend of $0.09 per share. Future outlook anticipates steady growth in water quality and modest recovery in product quality markets.