TE Connectivity Expects Q3 Net Sales of $4B Vs $4.11B Est, Adj EPS of $1.85 Vs $1.92 Est
Portfolio Pulse from Benzinga Newsdesk
TE Connectivity forecasts Q3 FY24 net sales of $4B, below the $4.11B estimate, and adjusted EPS of $1.85, under the $1.92 estimate. The guidance reflects a 2% year-over-year increase in GAAP EPS to $1.71 and a 5% increase in adjusted EPS, including a $0.15 headwind from tax and currency exchange rates.
April 24, 2024 | 10:05 am
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TE Connectivity expects lower-than-estimated Q3 FY24 net sales and adjusted EPS, with a slight year-over-year growth in earnings.
The forecasted shortfall in both net sales and adjusted EPS compared to analyst estimates is likely to negatively impact investor sentiment towards TEL in the short term. The acknowledgment of tax and currency exchange rate headwinds further substantiates the potential for a negative reaction in the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100