- TE Connectivity press release (NYSE:TEL): Q1 Non-GAAP EPS of $1.53 beats by $0.02.
- Revenue of $3.84B (+0.5% Y/Y) beats by $80M and 8% organically Y/Y.
- Sales above guidance driven by year-over-year growth in Transportation and Industrial segments.
- Order levels were $3.6B with a continued strong backlog position.
- Strong cash flow from operating activities of $581M and free cash flow of approximately $400M, with approximately $410M returned to shareholders.
- Outlook: For the second quarter of fiscal 2023, the company expects net sales of approximately $3.9 billion vs. consensus of $3.95B, reflecting a decrease of 3% on a reported basis and an increase of 2% on an organic basis year over year. GAAP EPS from continuing operations are expected to be approximately $1.44, with adjusted EPS of approximately $1.57 vs. consensus of $1.64.
Recommended For You
More Trending News
See More »