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Teledyne (TDY) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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Teledyne Technologies (TDY - Free Report) reported $1.42 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 5.1%. EPS of $4.67 for the same period compares to $4.43 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.42 billion, representing a surprise of +0.57%. The company delivered an EPS surprise of +0.86%, with the consensus EPS estimate being $4.63.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Teledyne performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Digital Imaging: $793.30 million versus the three-analyst average estimate of $805.26 million. The reported number represents a year-over-year change of +2.3%.
Net Sales- Engineered Systems: $117 million versus the three-analyst average estimate of $103.86 million. The reported number represents a year-over-year change of +18.5%.
Net Sales- Aerospace and Defense Electronics: $186 million versus the three-analyst average estimate of $176.41 million. The reported number represents a year-over-year change of +10.2%.
Net Sales- Instrumentation: $328.40 million compared to the $331.12 million average estimate based on three analysts. The reported number represents a change of +5.1% year over year.
Operating Income- Instrumentation: $81.40 million compared to the $79.64 million average estimate based on three analysts.
Operating Income- Digital Imaging: $124.60 million versus $133.20 million estimated by three analysts on average.
Operating Income- Aerospace and Defense Electronics: $53.20 million versus the three-analyst average estimate of $47.42 million.
Operating Income- Engineered Systems: $11.50 million versus the three-analyst average estimate of $10.03 million.
Operating Income- Corporate expense: -$14.60 million compared to the -$16.34 million average estimate based on three analysts.
Non-GAAP Operating Income- Digital Imaging: $170.20 million compared to the $177.06 million average estimate based on two analysts.
Non-GAAP Operating Income- Instrumentation: $84.90 million versus the two-analyst average estimate of $82.30 million.
Non-GAAP Operating Income- Aerospace and Defense Electronics: $53.40 million compared to the $47.51 million average estimate based on two analysts.
Shares of Teledyne have returned +2.9% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Teledyne (TDY) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Teledyne Technologies (TDY - Free Report) reported $1.42 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 5.1%. EPS of $4.67 for the same period compares to $4.43 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.42 billion, representing a surprise of +0.57%. The company delivered an EPS surprise of +0.86%, with the consensus EPS estimate being $4.63.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Teledyne performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales- Digital Imaging: $793.30 million versus the three-analyst average estimate of $805.26 million. The reported number represents a year-over-year change of +2.3%.
- Net Sales- Engineered Systems: $117 million versus the three-analyst average estimate of $103.86 million. The reported number represents a year-over-year change of +18.5%.
- Net Sales- Aerospace and Defense Electronics: $186 million versus the three-analyst average estimate of $176.41 million. The reported number represents a year-over-year change of +10.2%.
- Net Sales- Instrumentation: $328.40 million compared to the $331.12 million average estimate based on three analysts. The reported number represents a change of +5.1% year over year.
- Operating Income- Instrumentation: $81.40 million compared to the $79.64 million average estimate based on three analysts.
- Operating Income- Digital Imaging: $124.60 million versus $133.20 million estimated by three analysts on average.
- Operating Income- Aerospace and Defense Electronics: $53.20 million versus the three-analyst average estimate of $47.42 million.
- Operating Income- Engineered Systems: $11.50 million versus the three-analyst average estimate of $10.03 million.
- Operating Income- Corporate expense: -$14.60 million compared to the -$16.34 million average estimate based on three analysts.
- Non-GAAP Operating Income- Digital Imaging: $170.20 million compared to the $177.06 million average estimate based on two analysts.
- Non-GAAP Operating Income- Instrumentation: $84.90 million versus the two-analyst average estimate of $82.30 million.
- Non-GAAP Operating Income- Aerospace and Defense Electronics: $53.40 million compared to the $47.51 million average estimate based on two analysts.
View all Key Company Metrics for Teledyne here>>>Shares of Teledyne have returned +2.9% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.