Stock Story -
Water analytics and treatment company Veralto (NYSE:VLTO) will be reporting results tomorrow afternoon. Here’s what investors should know.
Veralto beat analysts’ revenue expectations by 1.6% last quarter, reporting revenues of $1.25 billion, up 1.5% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ operating margin estimates.
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This quarter, analysts are expecting Veralto’s revenue to grow 2.6% year on year to $1.28 billion, in line with the 1.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.80 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Veralto has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time since going public by 3% on average.
With Veralto being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for environmental and facilities services stocks. However, there has been positive investor sentiment in the segment, with share prices up 2.3% on average over the last month. Veralto is up 2.6% during the same time and is heading into earnings with an average analyst price target of $113.39 (compared to the current share price of $113.07).