Tech
TE Connectivity posts record $5.16 billion sales
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- TE Connectivity reported record fiscal Q3 sales of $5.16 billion, up 14% year over year and 12% organically.
- TE Connectivity shares were up 2.9% at $215 following the earnings announcement.
- The company agreed to acquire Astrodyne TDI for approximately $1.4 billion and forecast continued Q4 growth.
TE Connectivity (NYSE:TEL) reported record fiscal third-quarter sales of $5.16 billion, up 14% year over year and 12% organically.
GAAP diluted EPS rose 19% to $2.55, while adjusted EPS increased 22% to a record $2.94.
Orders rose 27% to $5.7 billion, while quarterly operating cash flow reached $1.2 billion and free cash flow totaled $883 million.
Following the announcement, TE Connectivity's share price was up 2.9% at $215 in premarket trading.
TE agreed to acquire Astrodyne TDI for approximately $1.4 billion, adding a business expected by TE to generate over $250 million annually.
TE expects fourth-quarter sales of approximately $5.25 billion and adjusted EPS of $3.05, representing respective growth of 11% and 18%.
