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TE Connectivity beats Q1 top and bottom line estimates; initiates Q3 outlook

Apr. 26, 2023 6:03 AM ETTE Connectivity Ltd. (TEL)By: Meghavi Singh, SA News Editor
  • TE Connectivity press release (NYSE:TEL): Q2 Non-GAAP EPS of $1.65 beats by $0.07.
  • Revenue of $4.16B (+4.0% Y/Y) beats by $250M.
  • Order levels were up sequentially to $4 billion.
  • Strong cash flow from operating activities of approximately $635 million and free cash flow of approximately $445 million, with approximately $375 million returned to shareholders.
  • Outlook: For the third quarter of fiscal 2023, the company expects net sales of approximately $4.0 billion vs. consensus of $4.06B. GAAP EPS from continuing operations are expected to be approximately $1.56, with adjusted EPS of approximately $1.65 vs. consensus of $1.72.

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