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TE Connectivity (TEL) Beats on Q2 Earnings, View Up
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TE Connectivity Ltd. (TEL - Free Report) primarily manufactures and designs products that connect and protect the flow of power and data inside millions of products used by consumers and industries. The company partners with customers in a broad array of industries ranging from consumer electronics, energy, and healthcare to automotive, aerospace and communication networks.
TE Connectivity, a market leader in the connectivity and sensor business, is armed with a comprehensive portfolio that supplements its strength. For the past five years, the company’s harsh business applications have been experiencing mid-single digit growth, bolstering revenues.
Over the past year, strategic acquisitions gave TE Connectivity a leading position in solutions for the minimally-invasive medical market, fortified its portfolio of industrial connectors and bolstered the company’s offering of sensors for the auto market. These factors are expected to drive long-term growth of the company.
TEL has a robust earnings surprise record, having delivered an average earnings surprise of 6.7% in the last four trailing quarters, beating estimates all through.
We have highlighted some of the key details from the announcement below:
Earnings: TEL beats on earnings. Adjusted earnings per share for the quarter came in at $1.19, significantly ahead of the Zacks Consensus Estimate of $1.08.
Revenue: Revenues of $3,227 million surpassed the Zacks Consensus Estimate of $3,080 million.
Key Stats: TEL recorded an impressive 20% organic growth in orders, which were up to $3.4 billion on a year over year basis. Concurrent with the fiscal second-quarter 2017 earnings release, the company raised its fiscal 2017 earnings and revenue guidance. It now expects net sales in the range of $12.6-$12.8 billion, compared to the earlier range of $12.2-$12.6 billion. Adjusted earnings per share are projected in the band of $4.58 to $4.66, compared to the earlier guidance of $4.30 to $4.50.
Stock Price: TEL shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back for our full write up on this TEL earnings report later!
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TE Connectivity (TEL) Beats on Q2 Earnings, View Up
TE Connectivity Ltd. (TEL - Free Report) primarily manufactures and designs products that connect and protect the flow of power and data inside millions of products used by consumers and industries. The company partners with customers in a broad array of industries ranging from consumer electronics, energy, and healthcare to automotive, aerospace and communication networks.
TE Connectivity, a market leader in the connectivity and sensor business, is armed with a comprehensive portfolio that supplements its strength. For the past five years, the company’s harsh business applications have been experiencing mid-single digit growth, bolstering revenues.
Over the past year, strategic acquisitions gave TE Connectivity a leading position in solutions for the minimally-invasive medical market, fortified its portfolio of industrial connectors and bolstered the company’s offering of sensors for the auto market. These factors are expected to drive long-term growth of the company.
TEL has a robust earnings surprise record, having delivered an average earnings surprise of 6.7% in the last four trailing quarters, beating estimates all through.
Currently, TEL has a Zacks Rank #2 (Buy), but that could change following its second-quarter fiscal 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.
We have highlighted some of the key details from the announcement below:
Earnings: TEL beats on earnings. Adjusted earnings per share for the quarter came in at $1.19, significantly ahead of the Zacks Consensus Estimate of $1.08.
TE Connectivity Ltd. Price and EPS Surprise
TE Connectivity Ltd. Price and EPS Surprise | TE Connectivity Ltd. Quote
Revenue: Revenues of $3,227 million surpassed the Zacks Consensus Estimate of $3,080 million.
Key Stats: TEL recorded an impressive 20% organic growth in orders, which were up to $3.4 billion on a year over year basis. Concurrent with the fiscal second-quarter 2017 earnings release, the company raised its fiscal 2017 earnings and revenue guidance. It now expects net sales in the range of $12.6-$12.8 billion, compared to the earlier range of $12.2-$12.6 billion. Adjusted earnings per share are projected in the band of $4.58 to $4.66, compared to the earlier guidance of $4.30 to $4.50.
Stock Price: TEL shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back for our full write up on this TEL earnings report later!
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades >>