TE Connectivity Q3 Adj EPS $1.77 Beats $1.66 Estimate, Sales $3.998B Miss $4.05B Estimate
Portfolio Pulse from Benzinga Newsdesk
TE Connectivity (NYSE:TEL) reported Q3 adjusted earnings of $1.77 per share, beating the analyst consensus estimate of $1.66 by 6.63%. However, this is a 4.84% decrease from the same period last year. The company's quarterly sales were $3.998 billion, missing the analyst consensus estimate of $4.05 billion by 1.28%, and marking a 2.42% decrease from the same period last year.
July 26, 2023 | 10:01 am
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NEUTRAL IMPACT
TE Connectivity's Q3 earnings exceeded expectations but sales fell short of estimates and decreased compared to last year.
TE Connectivity's earnings beat could potentially boost investor confidence, but the missed sales estimate and year-over-year decrease might offset this positive sentiment. The net impact on the stock price is uncertain in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100