TE Connectivity Ltd's Q1 Orders were $3.8B, up 4% YoY
Portfolio Pulse from Benzinga Newsdesk
TE Connectivity Ltd reported Q1 orders of $3.8B, a 4% increase YoY. Net sales were $3.83B, flat YoY and down 1% organically. GAAP EPS was $5.76, boosted by a tax benefit, while adjusted EPS rose 20% to $1.84. Operating margins reached 18.2%, with adjusted margins at 19.1%. Record cash flow from operations was $719M and free cash flow was $570M. The company deployed $1B in capital, including $600M to shareholders and $350M for acquiring Schaffner.
January 24, 2024 | 11:06 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
TE Connectivity's Q1 results showed a 4% increase in orders and a 20% rise in adjusted EPS, with record cash flows and significant capital deployment for shareholder returns and the Schaffner acquisition.
The positive earnings report, with increased orders and EPS, along with record cash flows, suggests a strong financial position for TE Connectivity. The strategic acquisition of Schaffner and significant capital returned to shareholders are likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100