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TEL Reports For Quarter Ending Q4-16 - Which Is Their Fiscal Q1-17

|Includes: TE Connectivity Ltd. (TEL)

The projections at Yahoo Finance:

Earnings Estimate

  Current Qtr. Next Qtr. Current Year Next Year
No. of Analysts 10 10 11 11
Avg. Estimate 1.00 1.04 4.34 4.70
Low Estimate 0.99 0.98 4.23 4.59
High Estimate 1.03 1.08 4.40 4.90
Year Ago EPS 0.84 0.90 4.08 4.34

From the earnings release and conference call:

First Quarter Highlights

  • Net sales were $3.1 billion, up 8 percent and 7 percent organically, compared to the first quarter of 2016
  • Orders, excluding SubCom, were $3.1 billion in the quarter, up 10 percent organically from the first quarter of 2016
  • Diluted earnings per share from continuing operations were $1.13, a 36 percent improvement year over year
  • Adjusted earnings per share were $1.15, up 37 percent over the same period in 2016

". . . we are raising our full year organic revenue outlook by 100 basis points and our adjusted EPS guidance to $4.40 at the midpoint. Currency exchange rates are expected to impact full year adjusted EPS by $0.16 versus our prior view, and this is factored into our guidance. I am pleased that we are growing adjusted EPS 11% year-over-year even with the negative impact of the stronger dollar."

I would expect both increased the guidance and the fiscal Q1 performance to raise the 2017 to something around $4.44.

Thus we have a (115.100) 15% quarterly earnings beat - but only a (440/434) 1.38% increase in 2017 guidance. TEL has a history of projection more growth than the actual - so that history should have the result of TEL getting more conservative with their projections.

The market response: TEL closed on 1/24/17 at $71.68. TEL closed today at $75.16 - up 4.85% for the day. TEL closed 2016 at $69.28 - so it is up 8.49% for the year.

Disclosure: I am/we are long TEL.