Teledyne Technologies Inc

TDY

Equity

ISIN US8793601050 / Valor 1004743

New York Stock Exchange, Inc (2024-11-21)

USD 480.22+2.08%

Teledyne Technologies Inc
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About company

Teledyne Technologies Inc. provides advanced technology and high reliability products for industrial growth markets such as aerospace and defense, factory automation, environmental monitoring, electronics design, oceanographic research, oil and gas exploration, medical imaging, and pharmaceutical research. The company's offerings include digital imaging sensors, cameras, monitoring instrumentation, interconnects, electronic test equipment, aircraft information systems, defense electronics, and satellite communication subsystems. Teledyne differentiates itself through a customer and company-sponsored research center, focusing on core markets of instrumentation, digital imaging, aerospace and defense electronics, and engineered systems. The company aims to strengthen and expand its core businesses through targeted acquisitions and product development, while pursuing operational excellence to improve margins and earnings. Teledyne operates primarily in the United States, the United Kingdom, Canada, and Western and Northern Europe.

Summarized from source with an LLMView SourceSector: Technology

Revenue

Teledyne Technologies Inc. reported second quarter 2024 net sales of $1,374.1 million, a decrease of 3.6% compared to $1,424.7 million in the second quarter of 2023. This marks a slight decline in revenue year-over-year.

Net Income

For the second quarter of 2024, Teledyne Technologies Inc. recorded a net income of $180.2 million, translating to $3.77 diluted earnings per share. This is a 2.8% decrease from the $185.3 million, or $3.87 diluted earnings per share, reported in the second quarter of 2023.

Operating Margin

Teledyne Technologies Inc. maintained a GAAP operating margin of 18.0% for both the second quarter of 2024 and the second quarter of 2023. On a non-GAAP basis, the operating margin for the second quarter of 2024 was 21.6%, slightly up from 21.4% in the same period of the previous year.

Cash Flow

Teledyne Technologies Inc. achieved an all-time record cash from operations of $318.7 million and free cash flow of $301.0 million in the second quarter of 2024. This strong cash flow performance enabled significant capital deployment, including debt repayment, acquisitions, and stock repurchases.

Outlook

Teledyne Technologies Inc. has provided a full-year 2024 GAAP diluted earnings per share outlook of $15.87 to $16.13 and affirmed its non-GAAP earnings per share outlook of $19.25 to $19.45. The company expects sequential quarterly sales increases and a return to year-over-year growth in the second half of 2024.

Summarized from source with an LLMView Source

Key figures

22.2%1Y

8.10%3Y

38.7%5Y

Performance

22.6%1Y

24.8%3Y

32.1%5Y

Volatility