TE Connectivity Beats Q4 Sales Estimates; CEO Highlights EV And AI Momentum
Portfolio Pulse from Anusuya Lahiri
TE Connectivity Ltd (NYSE:TEL) reported Q4 FY23 net sales of $4.035 billion, beating the consensus of $4.009 billion, but lower by 7.4% YoY. The adjusted EPS of $1.78 beat the consensus of $1.76. Orders were $3.9 billion, with growth in the Transportation and Communications segments. The company generated $945 million in free cash flow and held $1.66 billion in cash and equivalents. TEL sees Q1 net sales of $3.85 billion, vs. the consensus of $3.94 billion, and adjusted EPS of $1.70, vs the consensus of $1.70.
November 01, 2023 | 3:29 pm
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TE Connectivity reported better than expected Q4 results, with net sales and EPS beating estimates. However, the company's Q1 outlook is slightly below consensus.
TE Connectivity's Q4 results were better than expected, which is likely to have a positive impact on the stock. However, the company's Q1 outlook is slightly below consensus, which could limit the upside. The company's strong position in the EV and AI markets could provide long-term growth opportunities.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100