Vontier Earnings: Solid Growth in Convenience Retail and Fueling Solutions

Narrow-moat-rated Vontier’s fourth-quarter results were largely in line with our expectations, as its full-year adjusted earnings per share of $2.89 came in a penny below our estimate. After rolling our model forward one year, we’ve raised our fair value estimate to $43.50 per share from $42.50, mostly due to the time value of money.