TE Connectivity beats quarterly profit estimates on sensor demand [Reuters]
TE Connectivity Ltd. New Switzerland Registered Shares (TEL)
Last te connectivity ltd. new switzerland registered shares earnings: 4/28 06:00 am
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Source: Reuters
April 24 (Reuters) - TE Connectivity beat Wall Street estimates for second-quarter profit on Wednesday, helped by strong demand for its sensor technology from electric vehicle (EV) makers across the globe. With governments worldwide implementing regulations to promote cleaner transportation, a shift towards electric vehicles is underway, benefiting EV suppliers. The company posted total net sales of $3.97 billion for the quarter, which was slightly above the analysts' estimates of $3.95 billion. Operating margin in "Transportation Solutions" unit, which competes with Aptiv as a supplier to the auto industry, rose to 19.6% during the quarter. It reported an adjusted profit of $1.86 per share for the quarter ended March 29, ahead of Wall Street estimates of $1.83 per share. However, the company expects an adjusted profit of around $1.85 per share on revenue of $4 billion for the third quarter, while analysts estimate it at $1.92 per share, on revenue of $4.11 billion, accordi
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TEL
Earnings
- 4/24/24 - Beat
TEL
Sec Filings
- 4/29/24 - Form 4
- 4/29/24 - Form 144
- 4/26/24 - Form 10-Q
- TEL's page on the SEC website