- Vontier Corp VNT reported second-quarter FY21 revenue growth of 35.8% year-on-year to $724.6 million, beating the analyst consensus of $672.18 million.
- Revenue growth reflected an increase in core revenue of 32.7%.
- Gross profit improved to $318.5 million, and the gross margin expanded 67 bps to 44%.
- Adjusted EPS of $0.61 beat the analyst consensus of $0.55.
- The company held $703.4 million in cash and equivalents. It generated $216.5 million in operating cash flow during the six months ended Jul. 2.
- "Robust order growth, healthy secular trends, and our second quarter performance position us for another quality increase to our full-year 2021 outlook," said President and CEO Mark D. Morelli.
- Outlook: Vontier sees Q3 adjusted EPS of $0.71 - $0.74 versus the analyst consensus of $0.71.
- The company hiked the FY21 adjusted EPS from $2.55 - $2.65 to $2.77 - $2.82, above the analyst consensus of $2.66.
- Price action: VNT shares closed higher by 0.37% at $32.30 on Thursday.
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