Vontier Reports Solid Second-Quarter Results and Reiterates Full-Year 2022 Outlook

Narrow-moat-rated Vontier delivered solid second-quarter results, with adjusted EPS of $0.72 up 18% from the prior-year period. Management reiterated its full-year 2022 outlook and continues to anticipate core revenue growth in the low to midsingle digits and adjusted EPS in the range of $3.20-$3.30. We’ve lowered our fair value estimate for Vontier to $40.50 from $42.50, which reflects our slightly more conservative long-term revenue growth and operating margin assumptions, partially offset by time value of money.