Vontier Q2 Result Tops Estimates, Lifts FY21 Outlook On Order Growth

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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