When the Veralto spinoff from Danaher was completed earlier this month, shareholders like us received one VLTO share for every three shares of DHR owned.
Recall that in Danaher's earnings report, third-quarter results for the Environmental & Applied Solutions outpaced expectations for both sales and operating income.
On Thursday's call, CFO Sameer Ralhan said Veralto implemented some cost optimizations in the third quarter that will start delivering benefits in the ongoing fourth quarter.
Other notable dynamics in Veralto's third quarter include free cash flow generation coming in at 113% of GAAP earnings (which was higher than adjusted earnings at 83 cents per share).
Finally, Veralto expects to initiate a quarterly dividend of 9 cents per share in the fourth quarter.
Persons:
Danaher, Jennifer Honeycutt, we're, New York City's, we've, We've, Sameer Ralhan, Veralto, Ralhan, Honeycutt, Jim Cramer's, Jim Cramer, Jim, Joe Raedle
Organizations:
DHR, Applied Solutions, Applied, Argentine, PQ, Growth, Procter, Gamble, CNBC, Getty
Locations:
Danaher, Veralto, New York, North America, Western Europe, China, Miami , Florida