Vontier Corporation (NYSE:VNT) Q1 2022 Earnings Conference Call May 5, 2022 8:00 AM ET

Company Participants

Lisa Curran - Vice President of Investor Relations

Mark Morelli - President & Chief Executive Officer

David Naemura - Senior Vice President & Chief Financial Officer

Conference Call Participants

Steve Tusa - JPMorgan

Andrew Obin – Bank of America

Vlad Bystricky - Citigroup

Andrew Buscaglia - Berenberg

Nigel Coe - Wolfe Research

Joseph Donahue - Baird

Operator

My name is Ashley and I'll be your conference facilitator this afternoon. At this time, I would like to welcome everyone to the Vontier Corporation's First Quarter 2020 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 call over to Ms. Lisa Curran, Vice President of Investor Relations. Ms. Curran you may begin your conference.

Lisa Curran

Thank you Ashley. Good morning, everyone. And thank you for joining us on the call. With me today are Mark Morelli, our President and Chief Executive Officer, and David Naemura, our Senior Vice President and Chief Financial Officer. 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 at www.vontier.com, under the heading Financial. 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 first quarter earnings call. Our continued successful execution and capital allocation drove strong earnings growth. We delivered adjusted earnings per share of $0.70, an increase of 11% year-over-year and above the high end of our guide. Our team delivered another quarter ahead of earnings expectations, reflecting the continued progress and success of our profitable growth initiatives. And our DRB acquisition delivered robust growth in the quarter, highlighting the strength of our capital deployment and portfolio strategy to accelerate non-ICE business growth.