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Veralto — VLTO 1Q26 Earnings Slide Presentation (company IR deck)
Veralto (VLTO) · 0 slides · Filed Oct 29, 2026
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Slide 1 — First Quarter 2026 Results
First Quarter 2026 Results April 28, 2026
Slide 2 — Forward Looking Statements
2 Q 1 2 0 2 6 R E S U L T S | 2 Forward Looking Statements Certain statements in this presentation, including statements regarding the Company's second quarter and full year 2026 financial performance and guidance, the Company’s differentiation and positioning to continue delivering sustainable, long-term shareholder value and any other statements regarding events or developments that we believe or anticipate will or may occur in the future are "forward-looking" statements within the meaning of the federal securities laws. All statements other than historical factual information are forward-looking statements, including, without limitation, statements regarding: projections of revenue, expenses, profit, profit margins, asset values, pricing, tax rates, tax provisions, cash flows, pension and benefit obligations and funding requirements, Veralto’s liquidity position or other projected financial measures; Veralto’s management’s plans and strategies for future operations, including statements relating to anticipated operating performance, customer demand, cost reductions, restructuring activities, new product and service developments, competitive strengths or market position, acquisitions and the integration thereof, divestitures, spin-offs, split-offs, initial public offerings, other securities offerings or other distributions, strategic opportunities, stock repurchases, dividends and executive compensation; growth, declines and other trends in markets Veralto sells into, the impact of global trade policies, tariffs, restrictions on imports, related countermeasures and reciprocal tariffs; future new or modified laws, regulations, accounting pronouncements or public policy changes; regulatory approvals and the timing and conditionality thereof; outstanding claims, legal proceedings, tax audits and assessments and other contingent liabilities; future foreign currency exchange rates and fluctuations in those rates; results of operations and/or financial condition; general economic and capital markets conditions; the anticipated timing of any of the foregoing; assumptions underlying any of the foregoing; and any other statements that address events or developments that Veralto intends or believes will or may occur in the future. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings. These forward-looking statements speak only as of the date of this presentation and except to the extent required by applicable law, the Company does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise.
Slide 3 — Veralto / First Quarter 2026 Key Messages
3 Q 1 2 0 2 6 R E S U L T S | 3 1. Delivered ~7% sales growth and ~13% adjusted EPS growth year-over-year in Q1 2026: 1.9% core sales growth* 25.1% adjusted operating margin* $1.07 adjusted earnings per share* 2. Raised full year 2026 adjusted EPS* guidance to $4.20 to $4.28 per share: Core sales growth is expected to accelerate sequentially as year progresses Adjusted operating margins expected to expand year-over-year in 2H 2026 3. Developed solutions to drive growth and continuous improvement during annual CEO Kaizen week: 30 events | 16 locations | 300 participants Accelerating growth, enhancing margins and improving customer experience 4. Deployed ~$1b on attractive capital allocation opportunities: Completed strategic acquisitions of In-Situ and GlobalVision(1) for ~$622m Repurchased $300m of shares, or 1.3% of shares outstanding(2) 5. Initiated cost optimization program to streamline business processes and enhance operating efficiency: Expect to incur a charge of $85m to $105m and yield annual run-rate savings of $65m to $75m by full year 2028 Veralto / First Quarter 2026 Key Messages *See appendix for reconciliations to non-GAAP measures (1)The acquisition of GlobalVision was completed on April 7, 2026 (2)1.3% is calculated off the Company’s outstanding shares as of February 13, 2026 Strong First Quarter | Raised FY Adj. EPS Guidance | ~$1B of Capital Deployed
Slide 4 — $357m
4 Q 1 2 0 2 6 R E S U L T S | 4 Veralto / Q1 2026 Key Consolidated Financial Results Q1 2026 Performance Reflects Durable Sales and Earnings Per Share Growth SALES ADJUSTED OPERATING PROFIT* ADJUSTED EPS* ADJUSTED EBITDA* FREE CASH FLOW* $357m 25.1% adjusted operating profit margin* +10 basis points year-over-year $1.07 +12.6% year-over-year $368m 25.9% adjusted EBITDA margin* +10 basis points year-over-year *See appendix for reconciliations to non-GAAP measures $1,422m total sales growth of +6.7% core sales growth* of +1.9% $170m 67% free cash flow conversion* 18.6% trailing twelve-month free cash flow margin*
Slide 5 — Veralto / GlobalVision Acquisition
5 Q 1 2 0 2 6 R E S U L T S | 5 Veralto / GlobalVision Acquisition GlobalVision is Highly Complementary to Esko and TraceGains Integrating into Esko, building on their decade-long partnership Embedding GlobalVision’s AI-augmented quality and compliance backbone into Esko's end-to-end, source-to-shelf packaging platform Helping customers get products to market faster and avoid costly errors by ensuring packaging is accurate and compliant
Slide 6 — Veralto / 2026 CEO Kaizen Week
6 Q 1 2 0 2 6 R E S U L T S | 6 Veralto / 2026 CEO Kaizen Week TraceGains/Esko Value to Market Ott + In-Situ Growth Room Install In-Situ Inventory Accuracy & Material Flow Optimization Hach Commercial Architecture for Industrial Tech Market Growth Videojet CIJ Manufacturing Standard Work At Veralto, We Are All Practitioners of Continuous Improvement ChemTreat Shipping Efficiency
Slide 7 — Veralto / Q1 2026 Consolidated Performance
7 Q 1 2 0 2 6 R E S U L T S | 7 Veralto / Q1 2026 Consolidated Performance • Sales grew +6.7% year-over-year: ◦Core sales*: +1.9% ◦Currency: +3.5% ◦Acquisitions & divestitures: +1.3% • Gross profit margin (30) bps: ◦+1.9% increase in price ◦Higher labor costs; lower productivity • Adjusted operating profit margin* +10 bps: ◦Margin expansion at Water Quality ◦Lower corporate expense • Free cash flow* of $170m: ◦67% free cash flow conversion* *See appendix for reconciliations to non-GAAP measures $ millions, except per share data Q1 2025 Q1 2026 YOY Variance Sales $1,332 $1,422 +6.7% Core Sales Growth* 7.8% 1.9% Gross Profit $805 $854 +6.1% Gross Profit Margin 60.4% 60.1% (30) bps Adjusted Operating Profit* $333 $357 +7.2% Adjusted Operating Profit Margin* 25.0% 25.1% +10 bps Adjusted Net Diluted Earnings Per Share* $0.95 $1.07 +12.6% Free Cash Flow* $142 $170 +19.7%
Slide 8 — Water Quality / Q1 2026 Performance
8 Q 1 2 0 2 6 R E S U L T S | 8 Water Quality / Q1 2026 Performance ($ millions, variances versus prior year period) Q1 ADJUSTED OPERATING PROFIT * Q1 SALES YOY Change in Sales Q1 2025 Q1 2026 Core Growth* +7.4% +3.8% Currency (1.3%) +3.3% M&A (0.1%) +3.0% Total Growth +6.0% +10.1% *See appendix for reconciliations of non-GAAP measures +10.1% +10.5% Price +1.8%
Slide 9 — Product Quality & Innovation / Q1 2026 Performance
9 Q 1 2 0 2 6 R E S U L T S | 9 Product Quality & Innovation / Q1 2026 Performance ($ millions, variances versus prior year period) YOY Change in Sales Q1 2025 Q1 2026 Core Growth* +8.3% (1.0%) Currency (1.3%) +4.0% M&A +1.3% (1.3%) Total Growth +8.3% +1.7% Q1 ADJUSTED OPERATING PROFIT * Q1 SALES Price +2.0% *See appendix for reconciliations of non-GAAP measures +1.7% (0.7%)
Slide 10 — Veralto / Q1 2026 Cash Flow and Balance Sheet
10 Q 1 2 0 2 6 R E S U L T S | 10 Veralto / Q1 2026 Cash Flow and Balance Sheet Financial position summary: • Capital-light business model • Trailing twelve-month free cash flow margin* at 18.6% • Gross leverage* at 1.9x • Net leverage* at 0.9x Q1 2026 Cash from operations $182 Capital expenditures $(12) Free cash flow* $170 Free cash flow conversion* 67% Q1 2026 Cash and cash equivalents $1,431 Gross debt $2,662 Net debt* $1,231 * See appendix for reconciliations to non-GAAP measures ($ millions)
Slide 11 — Veralto / Q2 and FY 2026 guidance
11 Q 1 2 0 2 6 R E S U L T S | 11 Veralto / Q2 and FY 2026 guidance Q2 2026E FY 2026E Previous FY Guide Core Sales Growth* 3.0% to 4.0% 3.0% to 4.5% +LSD to +MSD Adjusted Operating Profit Margin* ~23.5% +25 basis points +25 basis points Adjusted EPS* $0.96 to $1.00 $4.20 to $4.28 $4.10 to $4.20 Free Cash Flow Conversion* -- ~100% ~100% Core sales growth* +2.6% +3.7% +4.7% +3.0% to 4.5% Notes: Adjusted Operating Profit Margin guidance includes ~(25) basis points of margin dilution from the acquisition of In-Situ for both Q2 and FY 2026E *See appendix for reconciliations to non-GAAP measures
Slide 12 — Veralto / 2026E Modeling Items
12 Q 1 2 0 2 6 R E S U L T S | 12 Veralto / 2026E Modeling Items 1. Primarily reflects the In-Situ and GlobalVision acquisitions, net of divestitures 2. Impact of currency exchange rates on sales if rates in effect as of April 3, 2026 prevailed throughout the remainder of 2026 3. Corporate expense reported as “other” under Operating Profit Q2 2026E FY 2026E Year-over-year Sales assumptions Core sales growth (non-GAAP) 3.0% to 4.0% 3.0% to 4.5% Acquisitions/divestitures (1) ~2.0% ~2.0% Currency exchange rates impact on sales (2) ~0.5% ~1.0% Total sales growth (GAAP) 5.5% to 6.5% 6.0% to 7.5% Other key assumptions Corporate expense (3) $20m to $25m $100m to $110m Interest expense, net $25m to $30m $100m to $110m Effective Tax Rate ~20% ~21% Average diluted shares ~248m ~248m Capital expenditures NA 1.0% to 1.5% of sales
Slide 13 — Veralto / Cost Optimization Program
13 Q 1 2 0 2 6 R E S U L T S | 13 Veralto / Cost Optimization Program Simplify Business Processes | Optimize Cost Structure | Strengthen Competitive Position Estimated Timing and Financial Impacts Timing Savings Cost Program initiated in second quarter of 2026 Activity to scale in second half of 2026 Program to be completed in 2028 Estimated GAAP charge: $85m to $105m No impact to Non-GAAP measures Estimated annualized, run-rate savings: $65m to $75m Expect ~50% benefit in 2027 Expect ~100% benefit in 2028
Slide 14 — Veralto / Well-Positioned to Drive Compounding Earnings and Free Cash Flow Growth
14 Q 1 2 0 2 6 R E S U L T S | 14 Veralto / Well-Positioned to Drive Compounding Earnings and Free Cash Flow Growth SAFEGUARDING THE WORLD’S MOST VITAL RESOURCES ATTRACTIVE SECULAR GROWTH DRIVERS PREMIER FINANCIAL PROFILE and DURABLE BUSINESS MODEL PROVEN VALUE CREATION PLAYBOOK
Slide 15 — Appendix
Appendix Q1 2026 Results | April 28, 2026
Slide 16 — Veralto / Geographic core sales growth(1) for Q1 2026
16 Q 1 2 0 2 6 R E S U L T S | 16 Veralto / Geographic core sales growth(1) for Q1 2026 North America Western Europe High-Growth Markets Water Quality +5.8% +4.7% +0.3% PQI +1.2% (3.2%) (1.4%) Total Veralto +4.5% +0.6% (0.6%) (1) Geographic core sales growth reflects management estimates of core sales growth of acquisitions, divestiture adjustments and impacts of currency translation. It is not adjusted for intercompany sales, returns or allowances. Notes: Japan, Australia and New Zealand represent ~2% of total sales and are not reflected in the data presented above Western Europe 24% High Growth Markets 25% Other Developed Markets 2% North America 49% Q1 2026 Sales by Geography Q1 2026 Geographic Core Sales Growth
Slide 17 — VERALTO CORPORATION
VERALTO CORPORATION RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES AND SUPPLEMENTAL FORWARD-LOOKING INFORMATION THREE-MONTH PERIODS ENDED APRIL 3, 2026 AND APRIL 4, 2025
Slide 18 — TABLE OF CONTENTS
TABLE OF CONTENTS Page 3 Sales Growth by Segment, Core Sales Growth (Decline) by Segment 4 Forecasted Core Sales Growth, Adjusted Operating Profit Margin, Adjusted Diluted Net Earnings per Share and Free Cash Flow to Net Earnings Conversion Ratio 5 Segment Sales, Operating Profit, Adjusted Operating Profit, Operating Profit Margin and Adjusted Operating Profit Margin 7 Net Earnings, Operating Profit, Adjusted EBITDA, Net Earnings Margin, Operating Profit Margin and Adjusted EBITDA Margin 9 Trailing Twelve Month Adjusted EBITDA, Gross Leverage and Net Leverage 10 Other Non-GAAP Adjusted P&L Measures 13 Operating Profit Margin and Year-Over-Year Core Operating Margin Changes 14 Cash Flow, Free Cash Flow, Operating Cash Flow to Net Earnings Ratio, Free Cash Flow to Net Earnings Conversion Ratio and Free Cash Flow Margin FORWARD-LOOKING STATEMENTS DISCLOSURE Certain statements in this document, including statements regarding the Company's second quarter and full year 2026 financial performance and guidance, the Company’s differentiation and positioning to continue delivering sustainable, long-term shareholder value and any other statements regarding events or developments that we believe or anticipate will or may occur in the future are "forward-looking" statements within the meaning of the federal securities laws. All statements other than historical factual information are forward-looking statements, including, without limitation, statements regarding: projections of revenue, expenses, profit, profit margins, asset values, pricing, tax rates, tax provisions, cash flows, pension and benefit obligations and funding requirements, Veralto’s liquidity position or other projected financial measures; Veralto’s management’s plans and strategies for future operations, including statements relating to anticipated operating performance, customer demand, cost reductions, restructuring activities, new product and service developments, competitive strengths or market position, acquisitions and the integration thereof, divestitures, spin-offs, split-offs, initial public offerings, other securities, offerings or other distributions, strategic opportunities, stock repurchases, dividends and executive compensation; growth, declines and other trends in markets Veralto sells into, the impact of global trade policies, tariffs, restrictions on imports, related countermeasures and reciprocal tariffs; future new or modified laws, regulations, accounting pronouncements or public policy changes; regulatory approvals and the timing and conditionality thereof; outstanding claims, legal proceedings, tax audits and assessments and other contingent liabilities; future foreign currency exchange rates and fluctuations in those rates; results of operations and/or financial condition; general economic and capital markets conditions; the anticipated timing of any of the foregoing; assumptions underlying any of the foregoing; and any other statements that address events or developments that Veralto intends or believes will or may occur in the future. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings. These forward-looking statements speak only as of the date of this document and except to the extent required by applicable law, the Company does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise.
Slide 19 — Total sales growth (GAAP)
% Change Three-Month Period Ended April 3, 2026 vs. Comparable 2025 Period Segments Total Company Water Quality Product Quality and Innovation Total sales growth (GAAP) 6.7 % 10.1 % 1.7 % Impact of: Acquisitions/divestitures (1.3) % (3.0) % 1.3 % Currency exchange rates (3.5) % (3.3) % (4.0) % Core sales growth (decline) (non-GAAP) 1.9 % 3.8 % (1.0) % % Change Three-Month Period Ended April 4, 2025 vs. Comparable 2024 Period Segments Total Company Water Quality Product Quality and Innovation Total sales growth (GAAP) 6.9 % 6.0 % 8.3 % Impact of: Acquisitions/divestitures (0.4) % 0.1 % (1.3) % Currency exchange rates 1.3 % 1.3 % 1.3 % Core sales growth (non-GAAP) 7.8 % 7.4 % 8.3 % VERALTO CORPORATION Sales Growth by Segment, Core Sales Growth by Segment 3
Slide 20 — The Company provides forecasted sales only on a non-GAAP basis because of the difficulty in estimating the other components of GAAP revenue, such
The Company provides forecasted sales only on a non-GAAP basis because of the difficulty in estimating the other components of GAAP revenue, such as currency translation, acquisitions and divested product lines. Additionally, we do not reconcile adjusted operating profit margin (or components thereof), adjusted diluted earnings per share or free cash flow to net earnings conversion ratio to the comparable GAAP measures because of the difficulty in estimating the other unknown components such as investment gains and losses, impairments and separation costs, which would be reflected in any forecasted GAAP operating profit, forecasted diluted earnings per share or forecasted net earnings ratio. % Change Three-Month Period Ending July 3, 2026 vs. Comparable 2025 Period Core sales growth (non-GAAP) +3.0% to 4.0% Three-Month Period Ending July 3, 2026 Adjusted Operating Profit Margin (non-GAAP) ~23.5% Adjusted Diluted Net Earnings per Share (non-GAAP) $0.96 to $1.00 % Change Year Ending December 31, 2026 vs. Comparable 2025 Period Core sales growth (non-GAAP) +3.0% to 4.5% Year Ending December 31, 2026 Adjusted Operating Profit Margin (non-GAAP) +25 basis points Adjusted Diluted Net Earnings per Share (non-GAAP) $4.20 to $4.28 Free cash flow to net earnings conversion ratio (non-GAAP) ~100% VERALTO CORPORATION Forecasted Core Sales Growth, Adjusted Operating Profit Margin, Adjusted Diluted Net Earnings per Share and Free Cash Flow to Net Earnings Conversion Ratio 4
Slide 21 — Sales (GAAP)
Sales (GAAP) Water Quality $ 874 $ 794 Product Quality & Innovation 548 538 Total $ 1,422 $ 1,332 Operating Profit (GAAP) Water Quality $ 210 $ 198 Product Quality & Innovation 144 146 Other (16) (22) Total $ 338 $ 322 Amortization of Intangible Assets (GAAP) Water Quality $ 7 $ 2 Product Quality & Innovation 6 7 Total $ 13 $ 9 Other Operating Profit Adjustments 1 Water Quality $ 4 $ — Product Quality & Innovation 2 — Other — 2 Total $ 6 $ 2 Three-Month Period Ended April 3, 2026 April 4, 2025 VERALTO CORPORATION Segment Sales, Operating Profit, Adjusted Operating Profit, Operating Profit Margin and Adjusted Operating Profit Margin ($ in millions) 5
Slide 22 — Adjusted Operating Profit (non-GAAP) 2
Adjusted Operating Profit (non-GAAP) 2 Water Quality $ 221 $ 200 Product Quality & Innovation 152 153 Other (16) (20) Total $ 357 $ 333 Operating Profit Margin (GAAP) Water Quality 24.0 % 24.9 % Product Quality & Innovation 26.3 % 27.1 % Total 23.8 % 24.2 % Adjusted Operating Profit Margin (Non-GAAP) 3 Water Quality 25.3 % 25.2 % Product Quality & Innovation 27.7 % 28.4 % Total 25.1 % 25.0 % Three-Month Period Ended April 3, 2026 April 4, 2025 1 Refer to the Reconciliation of GAAP to Other Non-GAAP Adjusted P&L Measures for a description of the components of Other Operating Profit Adjustments. 2 Adjusted Operating Profit (non-GAAP) is defined as operating profit (GAAP) plus amortization of intangible assets (GAAP) plus (minus) Other Operating Profit Adjustments. 3 Adjusted Operating Profit Margin (Non-GAAP) is defined as Adjusted Operating Profit (Non-GAAP) divided by Sales (GAAP). VERALTO CORPORATION Segment Sales, Operating Profit, Adjusted Operating Profit, Operating Profit Margin and Adjusted Operating Profit Margin ($ in millions) 6
Slide 23 — Net Earnings (GAAP)
Three-Month Period Ended April 3, 2026 Water Quality Product Quality & Innovation Other Total Company Net Earnings (GAAP) $ 254 Interest Expense 24 Other Nonoperating (Income) Expense (7) Income Taxes 67 Operating Profit (GAAP) $ 210 $ 144 $ (16) $ 338 Other Operating Profit Adjustments 1 4 2 — 6 Depreciation 7 4 — 11 Amortization of Intangible Assets 7 6 — 13 Adjusted EBITDA (Non-GAAP) $ 228 $ 156 $ (16) $ 368 Interest Expense (24) Other Nonoperating Income (Expense) 7 Income Taxes (67) Other Operating Profit Adjustments 1 (6) Depreciation (11) Amortization of Intangible Assets (13) Net Earnings (GAAP) $ 254 Sales (GAAP) $ 874 $ 548 $ 1,422 Net Earnings Margin (GAAP) 17.9 % Operating Profit Margin (GAAP) 24.0 % 26.3 % 23.8 % Adjusted EBITDA Margin (Non-GAAP) 4 26.1 % 28.5 % 25.9 % 1 Refer to the Reconciliation of GAAP to Other Non-GAAP Adjusted P&L Measures for a description of the components of Other Operating Profit Adjustments. 4 Adjusted EBITDA Margin (Non-GAAP) is defined as Adjusted EBITDA (Non-GAAP) divided by sales. VERALTO CORPORATION Net Earnings, Operating Profit, Adjusted EBITDA, Net Earnings Margin, Operating Profit Margin and Adjusted EBITDA Margin ($ in millions) 7
Slide 24 — Net Earnings (GAAP)
Three-Month Period Ended April 4, 2025 Water Quality Product Quality & Innovation Other Total Company Net Earnings (GAAP) $ 225 Interest Expense 27 Other Nonoperating (Income) Expense 6 Income Taxes 64 Operating Profit (GAAP) $ 198 $ 146 $ (22) $ 322 Other Operating Profit Adjustments 1 — — 2 2 Depreciation 6 4 — 10 Amortization of Intangible Assets 2 7 — 9 Adjusted EBITDA (Non-GAAP) $ 206 $ 157 $ (20) $ 343 Interest Expense (27) Other Nonoperating Income (Expense) (6) Income Taxes (64) Other Operating Profit Adjustments 1 (2) Depreciation (10) Amortization of Intangible Assets (9) Net Earnings (GAAP) $ 225 Sales (GAAP) $ 794 $ 538 $ 1,332 Net Earnings Margin (GAAP) 16.9 % Operating Profit Margin (GAAP) 24.9 % 27.1 % 24.2 % Adjusted EBITDA Margin (Non-GAAP) 4 25.9 % 29.2 % 25.8 % 1 Refer to the Reconciliation of GAAP to Other Non-GAAP Adjusted P&L Measures for a description of the components of Other Operating Profit Adjustments. 4 Adjusted EBITDA Margin (Non-GAAP) is defined as Adjusted EBITDA (Non-GAAP) divided by sales. VERALTO CORPORATION Net Earnings, Operating Profit, Adjusted EBITDA, Net Earnings Margin, Operating Profit Margin and Adjusted EBITDA Margin ($ in millions) 8
Slide 25 — Net Earnings (GAAP)
Three-Month Period Ended April 3, 2026 December 31, 2025 October 3, 2025 July 4, 2025 Net Earnings (GAAP) $ 254 $ 254 $ 239 $ 222 Interest Expense 24 20 21 28 Other Nonoperating (Income) Expense (7) 3 (1) — Income Taxes 67 39 67 63 Operating Profit (GAAP) $ 338 $ 316 $ 326 $ 313 Other Operating Profit Adjustments 1 6 18 1 3 Depreciation 11 11 11 10 Amortization of Intangible Assets 13 9 9 9 Adjusted EBITDA (Non-GAAP) $ 368 $ 354 $ 347 $ 335 Trailing Twelve Month Operating Profit (GAAP) 5 $ 1,293 Trailing Twelve Month Adjusted EBITDA (Non-GAAP) 6 $ 1,404 Total Debt 7 $ 2,662 Less: Cash 7 (1,431) Net Debt (Non-GAAP) $ 1,231 Gross Debt to Operating Profit 8 2.06 Net Debt to Operating Profit 9 0.95 Gross Leverage (Non-GAAP) 10 1.90 Net Leverage (Non-GAAP) 11 0.88 1 Refer to the Reconciliation of GAAP to Other Non-GAAP Adjusted P&L Measures for a description of the components of Other Operating Profit Adjustments. 5 Trailing Twelve Month Operating Profit is defined as the sum of Operating Profit for the previous four quarters. 6 Trailing Twelve Month Adjusted EBITDA (Non-GAAP) is defined as the sum of Adjusted EBITDA (Non-GAAP) for the previous four quarters. 7 Total Debt and Cash balances as of April 3, 2026. 8 Calculated as Total Debt divided by Trailing Twelve Month Operating Profit. 9 Calculated as Net Debt divided by Trailing Twelve Month Operating Profit. 10 Calculated as Total Debt divided by Trailing Twelve Month Adjusted EBITDA (Non-GAAP). 11 Calculated as Net Debt divided by Trailing Twelve Month Adjusted EBITDA (Non-GAAP). VERALTO CORPORATION Trailing Twelve Month Adjusted EBITDA, Gross Leverage and Net Leverage ($ in millions) 9
Slide 26 — Reported (GAAP)
Three-Month Period Ended April 3, 2026 Sales Cost of sales Gross profit margin Operating profit Operating profit margin Earnings before income taxes Income taxes Net earnings for calculation of diluted net earnings per common share Diluted net earnings per common share Reported (GAAP) $ 1,422 $ (568) 60.1 % $ 338 23.8 % $ 321 $ (67) $ 254 $ 1.02 Amortization of acquisition-related intangible assets A — — — 13 0.9 13 13 0.05 Fair value (gain) loss on investments B — — — — — (7) (7) (0.03) Other items C — — — 5 0.4 5 5 0.02 Amortization of inventory step-up D — — — 1 0.1 1 1 — Tax effect of the above adjustments F (1) (1) — Discrete tax adjustments G 1 1 — Rounding — — — — (0.1) — — — 0.01 Adjusted (Non-GAAP) $ 1,422 $ (568) 60.1 % $ 357 25.1 % $ 333 $ (67) $ 266 $ 1.07 Three-Month Period Ended April 3, 2026 Sales Selling, general and administrative expenses Selling, general and administrative expenses as a % of sales Research and development expenses Research and development expenses as a % of sales Nonoperating income (expense), net (excluding interest) Interest income (expense), net Reported (GAAP) $ 1,422 $ (448) (31.5) % $ (68) (4.8) % $ 7 $ (24) Amortization of acquisition-related intangible assets A — 13 0.9 — — — — Fair value (gain) loss on investments B — — — — — (7) — Other items C — 5 0.4 — — — — Amortization of inventory step-up D — 1 — — — — — Adjusted (Non-GAAP) $ 1,422 $ (429) (30.2) % $ (68) (4.8) % $ — $ (24) VERALTO CORPORATION Other Non-GAAP Adjusted P&L Measures ($ in millions, except per share data) 10
Slide 27 — Reported (GAAP)
Three-Month Period Ended April 4, 2025 Sales Cost of sales Gross profit margin Operating profit Operating profit margin Earnings before income taxes Income taxes Net earnings for calculation of diluted net earnings per common share Diluted net earnings per common share Reported (GAAP) $ 1,332 $ (527) 60.4 % $ 322 24.2 % $ 289 $ (64) $ 225 $ 0.90 Amortization of acquisition-related intangible assets A — — — 9 0.7 9 9 0.04 Other items C — — — 2 0.2 2 2 0.01 Loss on disposition of certain product lines E — — — — — 6 6 0.02 Tax effect of the above adjustments F (3) (3) (0.01) Discrete tax adjustments G (2) (2) (0.01) Rounding — — — — (0.1) — — — — Adjusted (Non-GAAP) $ 1,332 $ (527) 60.4 % $ 333 25.0 % $ 306 $ (69) $ 237 $ 0.95 Three-Month Period Ended April 4, 2025 Sales Selling, general and administrative expenses Selling, general and administrative expenses as a % of sales Research and development expenses Research and development expenses as a % of sales Nonoperating income (expense), net (excluding interest) Interest income (expense), net Reported (GAAP) $ 1,332 $ (419) (31.5) % $ (64) (4.8) % $ (6) $ (27) Amortization of acquisition-related intangible assets A — 9 0.7 — — — — Other items C — 2 0.2 — — — — Loss on disposition of certain product lines E — — — — — 6 Adjusted (Non-GAAP) $ 1,332 $ (408) (30.6) % $ (64) (4.8) % $ — $ (27) VERALTO CORPORATION Other Non-GAAP Adjusted P&L Measures ($ in millions, except per share data) 11
Slide 28 — Amortization of acquisition-related intangible assets in the following historical periods (only the pretax amounts set forth below are reflected in the
A Amortization of acquisition-related intangible assets in the following historical periods (only the pretax amounts set forth below are reflected in the amortization line item above): Three-Month Period Ended April 3, 2026 April 4, 2025 Pretax $ 13 $ 9 After-tax 10 7 B Fair value gain from the step acquisition of our previously held minority ownership interest in In-Situ during the three-month period ended April 3, 2026 ($7 million pretax as reported in this line item, $5 million after-tax). C Costs incurred during the three-month periods ended April 3, 2026 and April 4, 2025 related to certain strategic initiatives, including transaction costs related to the acquisitions of In-Situ and GlobalVision during the three-month period ended April 3, 2026 ($5 million and $2 million pretax as reported in this line item, $5 million and $1 million after-tax, respectively). D Amortization of the acquisition-related fair value adjustment to inventory related to the acquisition of In-Situ. E Loss on the disposition of certain product lines in the three-month period ended April 4, 2025 ($6 million pretax and after-tax as reported in this line item). F This line item reflects the aggregate tax effect of all nontax adjustments reflected in the preceding line items of the table. In addition, the footnotes above indicate the after-tax amount of each individual adjustment item. Veralto estimates the tax effect of each adjustment item by applying Veralto’s overall estimated effective tax rate to the pretax amount, unless the nature of the item and/or the tax jurisdiction in which the item has been recorded requires application of a specific tax rate or tax treatment, in which case the tax effect of such item is estimated by applying such specific tax rate or tax treatment. G Discrete tax matters relate to changes in estimates associated with prior period uncertain tax positions, audit settlements and excess tax benefits from stock-based compensation. VERALTO CORPORATION Other Non-GAAP Adjusted P&L Measures ($ in millions, except per share data) 12
Slide 29 — Three-Month Period Ended April 4, 2025 Operating Profit Margins (GAAP)
Segments Total Company Water Quality Product Quality & Innovation Three-Month Period Ended April 4, 2025 Operating Profit Margins (GAAP) 24.2 % 24.9 % 27.1 % Impact of acquisitions and dispositions (0.1) (0.3) 0.2 Costs incurred related to certain strategic initiatives, including transaction costs incurred related to the acquisitions of In-Situ and GlobalVision (0.3) (0.4) (0.4) Acquisition-related fair value adjustment to inventory related to the acquisition of In-Situ (0.1) (0.2) — Transaction costs incurred during the first quarter of 2025 related to certain strategic initiatives 0.2 — — Year-over-year core operating profit margin changes for the first quarter 2026 (defined as all year-over- year operating profit margin changes other than the changes identified in the line items above) (non- GAAP) (0.1) — (0.6) Three-Month Period Ended April 3, 2026 Operating Profit Margins (GAAP) 23.8 % 24.0 % 26.3 % VERALTO CORPORATION Operating Profit Margin and Year-Over-Year Core Operating Margin Changes 13
Slide 30 — Total Cash Flows (GAAP):
Three-Month Period Ended Year-over-Year Change April 3, 2026 April 4, 2025 Total Cash Flows (GAAP): Net cash provided by operating activities (GAAP) $ 182 $ 157 Total cash used in investing activities (GAAP) $ (439) $ (11) Total cash used in financing activities (GAAP) $ (332) $ (26) Free Cash Flow (non-GAAP): Total cash provided by operating activities (GAAP) $ 182 $ 157 ~ 16.0 % Less: payments for additions to property, plant & equipment (capital expenditures) (GAAP) (12) (15) Free cash flow (non-GAAP) $ 170 $ 142 ~ 19.5 % Operating Cash Flow to Net Earnings Ratio (GAAP) Net cash provided by operating activities (GAAP) $ 182 $ 157 Net earnings (GAAP) $ 254 $ 225 Operating cash flow to net earnings conversion ratio (GAAP) 0.72 0.70 Free Cash Flow to Net Earnings Conversion Ratio (non-GAAP): Free cash flow from above (non-GAAP) $ 170 $ 142 Net earnings (GAAP) $ 254 $ 225 Free cash flow to net earnings conversion ratio (non-GAAP) 0.67 0.63 We define free cash flow as operating cash flows, less payments for additions to property, plant and equipment (“capital expenditures”) plus the proceeds from sales of property, plant and equipment (“capital disposals”). VERALTO CORPORATION Cash Flow, Free Cash Flow, Operating Cash Flow to Net Earnings Ratio, Free Cash Flow to Net Earnings Conversion Ratio and Free Cash Flow Margin ($ in millions) 14
Slide 31 — Free Cash Flow Margin (non-GAAP)
Three-Month Period Ended April 3, 2026 December 31, 2025 October 3, 2025 July 4, 2025 Free Cash Flow Margin (non-GAAP) Free Cash Flow (non-GAAP) $ 170 $ 291 $ 258 $ 323 Sales (GAAP) $ 1,422 $ 1,396 $ 1,404 $ 1,371 Trailing Twelve Month Free Cash Flow (non-GAAP) $ 1,042 Trailing Twelve Month Sales (GAAP) $ 5,593 Free Cash Flow Margin (non-GAAP) 18.6 % We define free cash flow as operating cash flows, less payments for additions to property, plant and equipment (“capital expenditures”) plus the proceeds from sales of property, plant and equipment (“capital disposals”). VERALTO CORPORATION Cash Flow, Free Cash Flow, Operating Cash Flow to Net Earnings Ratio, Free Cash Flow to Net Earnings Conversion Ratio and Free Cash Flow Margin ($ in millions) 15
Slide 32 — Each of the non-GAAP measures set forth above should be considered in addition to, and not as a replacement for or superior to, the comparable GAAP
Each of the non-GAAP measures set forth above should be considered in addition to, and not as a replacement for or superior to, the comparable GAAP measure, and may not be comparable to similarly titled measures reported by other companies. Management believes that these measures provide useful information to investors by offering additional ways of viewing Veralto Corporation’s (“Veralto” or the “Company”) results that, when reconciled to the corresponding GAAP measure, help our investors: • with respect to the profitability-related non-GAAP measures, understand the long-term profitability trends of our business and compare our profitability to prior and future periods and to our peers; • with respect to core sales and related sales measures, identify underlying growth trends in our business and compare our sales performance with prior and future periods and to our peers; and • with respect to free cash flow and related cash flow measures (the “FCF Measure”), understand Veralto’s ability to generate cash without external financings, strengthen its balance sheet, invest in its business and grow its business through acquisitions and other strategic opportunities (although a limitation of free cash flow is that it does not take into account the Company’s non-discretionary expenditures, and as a result the entire free cash flow amount is not necessarily available for discretionary expenditures). Management uses these non-GAAP measures to measure the Company’s operating and financial performance. • The items excluded from the non-GAAP measures set forth above have been excluded for the following reasons: ◦ Amortization of Intangible Assets: We exclude the amortization of acquisition-related intangible assets because the amount and timing of such charges are significantly impacted by the timing, size, number and nature of the acquisitions we consummate. While we have a history of significant acquisition activity, we do not acquire businesses on a predictable cycle, and the amount of an acquisition’s purchase price allocated to intangible assets and related amortization term are unique to each acquisition and can vary significantly from acquisition to acquisition. Exclusion of this amortization expense facilitates more consistent comparisons of operating results over time between our newly acquired and long-held businesses, and with both acquisitive and non-acquisitive peer companies. We believe however that it is important for investors to understand that such intangible assets contribute to sales generation and that intangible asset amortization related to past acquisitions will recur in future periods until such intangible assets have been fully amortized. ◦ Restructuring Charges: We exclude costs incurred pursuant to discrete restructuring plans that are fundamentally different (in terms of the size, strategic nature and planning requirements, as well as the inconsistent frequency, of such plans) from the ongoing productivity improvements that result from application of the Veralto Enterprise System. Because these restructuring plans are incremental to the core activities that arise in the ordinary course of our business and we believe are not indicative of Veralto’s ongoing operating costs in a given period, we exclude these costs to facilitate a more consistent comparison of operating results over time. ◦ Other Adjustments: With respect to the other items excluded from the profitability-related non-GAAP measures, we exclude these items because they are of a nature and/or size that occur with inconsistent frequency, occur for reasons that may be unrelated to Veralto’s commercial performance during the period and/or we believe that such items may obscure underlying business trends and make comparisons of long-term performance difficult. ◦ With respect to core operating profit margin changes, in addition to the explanation set forth in the bullets above relating to “restructuring charges” and “other adjustments”, we exclude the impact of businesses owned for less than one year (or disposed of during such period VERALTO CORPORATION Statement Regarding Non-GAAP Measures 16
Slide 33 — and not treated as discontinued operations) because the timing, size, number and nature of such transactions can vary significantly from
and not treated as discontinued operations) because the timing, size, number and nature of such transactions can vary significantly from period to period and may obscure underlying business trends and make comparisons of long-term performance difficult. • We calculate adjusted EBITDA by adding to operating profit amounts equal to depreciation and amortization and making the other adjustments reflected in the applicable tables above, which allows us to calculate and disclose such measure by segment. Given Veralto’s diversification, we believe this helps our investors compare the profitability of our individual segments to peer companies with like business lines. • With respect to core sales related measures, (1) we exclude the impact of currency translation because it is not under management’s control, is subject to volatility and can obscure underlying business trends, and (2) we exclude the effect of acquisitions and divested product lines because the timing, size, number and nature of such transactions can vary significantly from period-to-period and between us and our peers, which we believe may obscure underlying business trends and make comparisons of long-term performance difficult. • With respect to the FCF Measure, we exclude payments for additions to property, plant and equipment (net of the proceeds from capital disposals) to demonstrate the amount of operating cash flow for the period that remains after accounting for the Company’s capital expenditure requirements. • We calculate gross leverage and net leverage as the ratio of debt and net debt (defined as total debt less cash and cash equivalents) to trailing twelve month adjusted EBITDA. Trailing Twelve Month EBITDA is an ongoing liquidity measure and is calculated as the sum of adjusted EBITDA for the previous four quarters. We believe these liquidity measures help our investors to assess our liquidity relative to peer companies. VERALTO CORPORATION Statement Regarding Non-GAAP Measures 17
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