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Veralto lifts annual profit forecast on sustained demand for water quality products
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Veralto lifts annual profit forecast on sustained demand for water quality products
Oct 30, 2024 10:40 PM

Oct 23 (Reuters) - Veralto ( VLTO ) raised its annual

adjusted profit forecast on Wednesday, for the third time this

year, as the water treatment solutions provider expects

sustained demand for its chemical treatment services and

UV-filtration systems.

Veralto ( VLTO ), which was spun off from the life sciences firm

Danaher ( DHR ) in September last year, provides quality control

services to companies in the packaging goods sector and makes

products that can measure water quality.

The company's water quality segment has seen a sustained

demand from both municipalities and industrial customers, while

its product quality and innovation segment has benefited from a

surge in consumer goods spending, following a post-pandemic

slowdown.

The Waltham, Massachusetts-based company now sees annual

adjusted profit in the range of $3.44 to $3.48 per share, up

from its prior estimated range of $3.37 to $3.45 per share.

Third-quarter adjusted profit for the company came in at 89

cents per share, surpassing analysts' average estimate of 85

cents per share, according to data compiled by LSEG.

Net sales for the third quarter, ended September 27, rose

4.7% to $1.31 million, compared with estimates of $1.30 billion.

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