Veralto (VLTO) Q1 FY2026 earnings: revenue $1.4 billion, up 6.8% on the year

Veralto Corp. (VLTO) reported revenue of $1.4 billion for Q1 FY2026, the quarter ended 3 April 2026, up 6.8% on the same quarter a year earlier. Net income was $254 million, up 12.9% on the year, and diluted earnings per share $1.02. The figures are the company's own, from the 10-Q it filed with the SEC on 29 April 2026.

Revenue

$1.4 billion

+6.8% on the year · +1.9% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

23.8%

24.2% a year earlier

Q2 FY2024Q1 FY2026

Net income

$254 million

+12.9% on the year · 0.0% on the quarter

Q2 FY2024Q1 FY2026

Diluted EPS

$1.02

+13.3% on the year · +1.0% on the quarter

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 raised, 5 new, 1 kept.

Sales rose 6.7%, core 1.9%: Sales were $1,422 million against $1,332 million a year earlier. Core sales growth was 1.9% after the reconciliation removed acquisitions, divestitures and currency.
Adjusted net earnings rose to $266 million: Adjusted net earnings were $266 million, or $1.07 per diluted share, against $237 million, or $0.95, a year earlier, per the non-GAAP reconciliation.
Product Quality and Innovation core declined: Product Quality and Innovation reported total sales growth of 1.7% but core sales declined 1.0%. The reconciliation shows currency at (4.0)% for the segment.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	1,422	1,396	1,332	+1.9%	+6.8%
Cost of revenue	568	568	527	0.0%	+7.8%
Gross profit	854	828	805	+3.1%	+6.1%
Gross margin	60.1%	59.3%	60.4%
Research and development	68.0	68.0	64.0	0.0%	+6.2%
Selling, general and administrative	448	444	419	+0.9%	+6.9%
Operating income	338	316	322	+7.0%	+5.0%
Operating margin	23.8%	22.6%	24.2%
Interest expense	24.0	20.0	27.0	+20.0%	-11.1%
Pre-tax income	321	293	289	+9.6%	+11.1%
Income tax	67.0	39.0	64.0	+71.8%	+4.7%
Effective tax rate	20.9%	13.3%	22.1%
Net income	254	254	225	0.0%	+12.9%
Net margin	17.9%	18.2%	16.9%
Diluted EPS	$1.02	$1.01	$0.90	+1.0%	+13.3%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	182	311	157	-41.5%	+15.9%
Capital expenditure	12.0	20.0	15.0	-40.0%	-20.0%
Free cash flow	170	291	142	-41.6%	+19.7%
Free cash flow margin	12.0%	20.8%	10.7%
Cash from investing	-439	-35.0	-11.0
Cash from financing	-332	-25.0	-26.0
Depreciation and amortisation	24.0	20.0	19.0	+20.0%	+26.3%
Share-based compensation	16.0	13.0	16.0	+23.1%	0.0%
Buybacks	300	n/a	0.0
Dividends paid	32.0	27.0	27.0	+18.5%	+18.5%
Dividend per share	n/a	$0.13	n/a
Diluted shares, weighted	249m	250m	250m	-0.5%	-0.4%
Shares outstanding at period end	246m	248m	248m	-1.1%	-0.9%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	3,005	3,105	2,302	-3.2%	+30.5%
Non-controlling interest	1.0	1.0	7.0	0.0%	-85.7%
Debt	2,662	2,673	2,630	-0.4%	+1.2%
Operating lease liabilities	n/a	158	n/a
Other liabilities	1,985	1,756	1,706	+13.0%	+16.4%
Total liabilities and equity	7,653	7,693	6,645	-0.5%	+15.2%
Fixed assets	297	294	274	+1.0%	+8.4%
Goodwill	3,042	2,838	2,738	+7.2%	+11.1%
Intangible assets	750	524	531	+43.1%	+41.2%
Cash and equivalents	1,431	2,031	1,239	-29.5%	+15.5%
Receivables	922	897	832	+2.8%	+10.8%
Inventory	332	307	310	+8.1%	+7.1%
Other assets	879	802	721	+9.6%	+21.9%
Total assets	7,653	7,693	6,645	-0.5%	+15.2%

Questions

What was Veralto's revenue in Q1 FY2026?

Veralto (VLTO) reported revenue of $1.4 billion for Q1 FY2026, the quarter ended 3 April 2026, up 6.8% on the same quarter a year earlier.

How much did Veralto earn in Q1 FY2026?

Net income for Q1 FY2026 was $254 million, up 12.9% on the year, and diluted earnings per share $1.02.

When did Veralto report Q1 FY2026 results?

Veralto filed its 10-Q for the quarter ended 3 April 2026 with the SEC on 29 April 2026.

Quarterly results, the last 16 quarters

	Q3 FY2022	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,219	1,225	1,253	1,255	1,288	1,246	1,288	1,314	1,345	1,332	1,371	1,404	1,396	1,422	1,474	1,509
Cost of revenue	525	517	529	532	542	499	514	531	544	527	549	560	568	568	572	601
Gross profit	694	708	724	723	746	747	774	783	801	805	822	844	828	854	902	908
Gross margin	57%	58%	58%	58%	58%	60%	60%	60%	60%	60%	60%	60%	59%	60%	61%	60%
R&D	52.0	56.0	57.0	55.0	57.0	60.0	61.0	63.0	69.0	64.0	67.0	67.0	68.0	68.0	73.0	69.0
SG&A	357	360	378	395	403	394	414	412	424	419	442	451	444	448	514	541
Operating income	285	292	289	273	286	293	299	308	308	322	313	326	316	338	315	298
Operating margin	23%	24%	23%	22%	22%	24%	23%	23%	23%	24%	23%	23%	23%	24%	21%	20%
Interest expense	0.0	0.0	0.0	5.0	25.0	28.0	30.0	27.0	28.0	27.0	28.0	21.0	20.0	24.0	27.0	25.0
Pre-tax income	285	292	275	268	261	250	270	286	280	289	285	306	293	321	289	273
Tax rate	24%	23%	24%	24%	23%	26%	25%	23%	19%	22%	22%	22%	13%	21%	17%	7%
Net income	218	225	209	205	200	184	203	219	227	225	222	239	254	254	241	253
Net margin	18%	18%	17%	16%	16%	15%	16%	17%	17%	17%	16%	17%	18%	18%	16%	17%
Diluted EPS	$0.89	$0.91	$0.85	$0.83	$0.81	$0.74	$0.81	$0.88	$0.91	$0.90	$0.89	$0.95	$1.01	$1.02	$0.98	$1.03
Operating cash flow	n/a	156	301	243	263	115	251	224	285	157	339	270	311	182	340	323
Capital expenditure	n/a	9.0	12.0	11.0	22.0	13.0	11.0	9.0	22.0	15.0	16.0	12.0	20.0	12.0	12.0	19.0
Free cash flow	n/a	147	289	232	241	102	240	215	263	142	323	258	291	170	328	304
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0.0	0.0	0.0	n/a	300	134	89.0
Dividends paid	n/a	0.0	0.0	0.0	0.0	22.0	22.0	23.0	22.0	27.0	27.0	28.0	27.0	32.0	32.0	32.0
Shares outstanding	0	247m	247m	246m	246m	247m	247m	247m	247m	248m	248m	248m	248m	246m	244m	243m
Filing	10-Q	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 3 April 2026, filed 29 April 2026: the filing.