Veralto beats Q1 results on strength in water quality unit

April 23 (Reuters) - Water treatment solutions provider Veralto beat Wall Street estimates for quarterly results on Tuesday, helped by strong demand for its chemical treatment services and UV filtration systems from customers in North America.

The company's water quality segment, which provides tests and analytical measurement tools through the Hach brand and membrane filtration systems through the Trojan Technologies brand, has seen strong demand from industrial customers and municipalities in Europe and North America.

"In our water quality segment, we continue to see positive secular growth drivers across industrial markets, particularly in North America, along with steady demand at municipalities." said CEO Jennifer Honeycutt.

In 2023, the Waltham, Massachusetts-based company generated roughly 47% of its sales from North America and about 22% from Western Europe.

Veralto, which was spun-off from life sciences firm Danaher in September last year, provides products that help ensure water quality, and offers packaging and quality control solutions to businesses in industries including pharmaceutical and consumer packaged goods.

Veralto reported net sales of $1.25 billion for the first quarter ended March 29, compared with estimates of $1.23 billion.

Its quarterly adjusted earnings of 84 cents per share also topped analysts' estimate of 76 cents per share.

It also raised its forecast for full-year adjusted profit to a range of $3.25 to $3.34 per share, from $3.20 to $3.30 per share estimated previously. Analysts on average expect $3.29 per share, LSEG data showed.

Shares of the company rose 1.47% in after-hours trading. (Reporting by Deborah Sophia and Rupali Chaudhary in Bengaluru; Editing by Shailesh Kuber)