Vontier Corporation (NYSE:VNT) Q2 2022 Results Conference Call August 4, 2022 8:00 AM ET

Company Participants

Lisa Curran - Vice President of Investor Relations

Mark Morelli - President & Chief Executive Officer

Dave Naemura - Senior Vice President & Chief Financial Officer

Ryan Edelman - Incoming Vice President of Investor Relations

Conference Call Participants

Andrew Obin - Bank of America

Ryan Cooke - Wolfe Research

Julian Mitchell - Barclays

Rob Mason - Baird

Operator

Hello. My name is Katie, and I will be your conference facilitator today. At this time, I would like to welcome everyone to the Vontier Corporation's Second Quarter 2022 Earnings Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker’s remarks, there will be a question-and-answer session. [Operator Instructions]

I would now like to turn the conference over to Ms. Lisa Curran, Vice President of Investor Relations. Ms. Curran, you may begin.

Lisa Curran

Thank you, Katie. Good morning, everyone, and thank you for joining us on the call. With me today are Mark Morelli, our President and Chief Executive Officer; Dave Naemura, our Senior Vice President and Chief Financial Officer; and Ryan Edelman, our incoming Vice President of Investor Relations.

We will present certain non-GAAP financial measures on today's call. Information required by SEC Regulation G relating to these non-GAAP financial measures is available on the Investors section of our website, www.vontier.com under the heading Financials. Please note that unless otherwise noted, the presented financial measures reflect year-over-year increases or decreases.

During the call, we will make forward-looking statements within the meaning of the federal securities laws, including statements regarding events or developments that we expect or anticipate will or may occur in the future. These forward-looking statements are subject to a number of risks and uncertainties and actual results might differ materially from any forward-looking statements that we make today. Information regarding these factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings and subsequent quarterly report on Form 10-Q. These forward-looking statements speak only as of the date they are made, and we do not assume any obligation to update any forward-looking statements.

With that, I'd like to turn the call over to Mark.

Mark Morelli

Thanks, Lisa. Good morning, everyone, and welcome to our second quarter earnings call. Once again, our strong execution, price cost performance and capital allocation drove double-digit earnings growth, more than offsetting supply chain inflation and other headwinds. We delivered adjusted earnings per share of $0.72 or an increase of 18%, despite a challenging comparison year-over-year. These strong results reflected positive operating leverage and a top line beat. The beat was driven by double-digit growth at DRB and Environmental, more than offsetting underperformance in Diagnostics and Repair Technologies, which I'll come back to.