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Compared to Estimates, Teledyne (TDY) Q1 Earnings: A Look at Key Metrics
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Teledyne Technologies (TDY - Free Report) reported $1.35 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 2.4%. EPS of $4.55 for the same period compares to $4.53 a year ago.
The reported revenue represents a surprise of -3.62% over the Zacks Consensus Estimate of $1.4 billion. With the consensus EPS estimate being $4.64, the EPS surprise was -1.94%.
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- Instrumentation: $330.40 million versus $334.03 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -0.9% change.
Net Sales- Aerospace and Defense Electronics: $185.70 million versus the three-analyst average estimate of $181.31 million. The reported number represents a year-over-year change of +7.2%.
Net Sales- Engineered Systems: $93.20 million versus the three-analyst average estimate of $107.52 million. The reported number represents a year-over-year change of -10.5%.
Net Sales- Digital Imaging: $740.80 million versus $777.91 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -4.1% change.
Operating Income- Instrumentation: $86 million versus $82.82 million estimated by three analysts on average.
Operating Income- Digital Imaging: $113.80 million compared to the $125.03 million average estimate based on three analysts.
Operating Income- Aerospace and Defense Electronics: $51.90 million compared to the $49.41 million average estimate based on three analysts.
Operating Income- Engineered Systems: $2.70 million compared to the $10.65 million average estimate based on three analysts.
Operating Income- Corporate expense: -$20.10 million compared to the -$17.98 million average estimate based on three analysts.
Non-GAAP Operating Income- Aerospace and Defense Electronics: $52.10 million compared to the $49.01 million average estimate based on three analysts.
Non-GAAP Operating Income- Digital Imaging: $161.80 million versus the three-analyst average estimate of $169.12 million.
Non-GAAP Operating Income- Instrumentation: $89.40 million versus the three-analyst average estimate of $84.57 million.
Shares of Teledyne have returned -3.9% over the past month versus the Zacks S&P 500 composite's -3% 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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Compared to Estimates, Teledyne (TDY) Q1 Earnings: A Look at Key Metrics
Teledyne Technologies (TDY - Free Report) reported $1.35 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 2.4%. EPS of $4.55 for the same period compares to $4.53 a year ago.
The reported revenue represents a surprise of -3.62% over the Zacks Consensus Estimate of $1.4 billion. With the consensus EPS estimate being $4.64, the EPS surprise was -1.94%.
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- Instrumentation: $330.40 million versus $334.03 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -0.9% change.
- Net Sales- Aerospace and Defense Electronics: $185.70 million versus the three-analyst average estimate of $181.31 million. The reported number represents a year-over-year change of +7.2%.
- Net Sales- Engineered Systems: $93.20 million versus the three-analyst average estimate of $107.52 million. The reported number represents a year-over-year change of -10.5%.
- Net Sales- Digital Imaging: $740.80 million versus $777.91 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -4.1% change.
- Operating Income- Instrumentation: $86 million versus $82.82 million estimated by three analysts on average.
- Operating Income- Digital Imaging: $113.80 million compared to the $125.03 million average estimate based on three analysts.
- Operating Income- Aerospace and Defense Electronics: $51.90 million compared to the $49.41 million average estimate based on three analysts.
- Operating Income- Engineered Systems: $2.70 million compared to the $10.65 million average estimate based on three analysts.
- Operating Income- Corporate expense: -$20.10 million compared to the -$17.98 million average estimate based on three analysts.
- Non-GAAP Operating Income- Aerospace and Defense Electronics: $52.10 million compared to the $49.01 million average estimate based on three analysts.
- Non-GAAP Operating Income- Digital Imaging: $161.80 million versus the three-analyst average estimate of $169.12 million.
- Non-GAAP Operating Income- Instrumentation: $89.40 million versus the three-analyst average estimate of $84.57 million.
View all Key Company Metrics for Teledyne here>>>Shares of Teledyne have returned -3.9% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.