Veralto lifts annual profit forecast on water treatment demand
Shares of the company rose 1.4% in extended trade.
The Waltham, Massachusetts-based company provides water treatment solutions to industrial customers that help ensure quality, alongside packaging and quality control services.
Veralto, which was spun off from lifesciences firm Danaher in September 2023, now expects adjusted profit to be between $3.72 and $3.80 per share for the year, compared to its previous forecast range of $3.60 to $3.70 per share.
Analysts, on average, expect full-year profit of $3.69 per share, according to data compiled by LSEG.
The company's quarterly adjusted earnings came in at 93 cents per share, compared with estimates of 88 cents apiece.
Revenue for the quarter ended July 4, came in at $1.37 billion, beating analysts' estimates of $1.34 billion.
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