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Teledyne posted Q1 adjusted EPS of $5.80, topping estimates, as revenues rose 7.6% to $1.56B.
Teledyne lifted 2026 adjusted EPS guidance to $23.85-$24.15 and guided Q2 EPS at $5.70-$5.80.
TDY saw strength in Digital Imaging and Aerospace/Defense Electronics, while Engineered Systems sales fell.
Teledyne Technologies Inc. (TDY - Free Report) reported first-quarter 2026 adjusted earnings of $5.80 per share, which surpassed the Zacks Consensus Estimate of $5.48 by 5.9%. The bottom line also improved 17.2% from $4.95 recorded in the year-ago quarter.
Including one-time items, the company recorded GAAP earnings of $4.85 per share, up 21.6% from the prior-year period’s earnings of $3.99.
The year-over-year improvement in the bottom line can be attributed to higher net sales and operating income in the first quarter than the year-ago quarter’s reported actuals.
Operational Highlights of TDY
Total sales were $1.56 billion, which beat the Zacks Consensus Estimate of $1.51 billion by 3.3%. The top line also jumped 7.6% from $1.45 billion reported in the year-ago quarter. This improvement can be attributed to higher year-over-year sales recorded in the majority of its business segments.
Teledyne Technologies Incorporated Price, Consensus and EPS Surprise
Instrumentation: Sales in this segment increased 5.3% year over year to $361.4 million, driven by higher sales of marine instrumentation, primarily due to stronger offshore energy and defense markets.
The adjusted operating income declined 4.2% year over year to $91.9 million.
Digital Imaging: Quarterly sales in this division increased 7.9% year over year to $816.9 million. The jump was due to higher sales of infrared imaging detectors, components and subsystems for both defense and commercial applications, as well as higher surveillance and unmanned air systems for defense applications.
The adjusted operating income rose 13.1% year over year to $189.7 million.
Aerospace and Defense Electronics: Sales in this segment totaled $277.5 million, up 14.4% from the prior-year quarter. The improvement was driven by higher sales of defense electronics.
The adjusted operating income increased 23.2% year over year to $77.5 million.
Engineered Systems: Revenues in this division fell 2.6% year over year to $104.3 million due to lower sales of engineered products and energy systems.
This segment's operating income rose 8.3% to $11.7 million.
Financial Condition of TDY
Teledyne’s cash and cash equivalents totaled $521.4 million as of March 29, 2026 compared with $352.4 million as of Dec. 28, 2025.
Its long-term debt was $2.026 billion at the end of the first quarter of 2026 compared with $2.025 billion as of Dec. 28, 2025.
Cash flow from operating activities totaled $234 million for the first quarter compared with $242.6 million in the prior-year period.
TDY generated free cash flow of $204.3 million, down from $224.6 million in the prior-year quarter.
TDY’s Guidance
Teledyne expects to generate adjusted earnings in the band of $5.70-$5.80 per share for the second quarter of 2026. The Zacks Consensus Estimate for TDY’s second-quarter earnings is pegged at $5.79 per share, which is at the higher end of the company's guided range.
For 2026, Teledyne raised its adjusted earnings to be in the range of $23.85-$24.15 per share compared with the prior range of $23.45-$23.85. The Zacks Consensus Estimate for earnings is pegged at $23.90 per share, which is at the lower end of the company's guided range.
Lockheed Martin Corporation (LMT - Free Report) is set to report first-quarter 2026 results on April 23, before market open.
The Zacks Consensus Estimate for LMT’s earnings is pegged at $6.67 per share. The consensus estimate for its sales is pegged at $18.12 billion, indicating year-over-year growth of 0.9%.
General Dynamics Corporation (GD - Free Report) is set to report first-quarter 2026 results on April 29, before market open.
The Zacks Consensus Estimate for GD’s earnings is pegged at $3.68 per share. The consensus estimate for its sales is pegged at $12.7 billion, calling for a year-over-year rise of 3.9%.
L3Harris Technologies, Inc. (LHX - Free Report) is set to report first-quarter 2026 results on April 30, before market open.
The Zacks Consensus Estimate for LHX’s earnings is pegged at $2.53 per share. The consensus estimate for its sales is pegged at $5.42 billion, implying year-over-year growth of 5.7%.
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Teledyne's Q1 Earnings & Revenues Beat Estimates, '26 EPS View Raised
Key Takeaways
Teledyne Technologies Inc. (TDY - Free Report) reported first-quarter 2026 adjusted earnings of $5.80 per share, which surpassed the Zacks Consensus Estimate of $5.48 by 5.9%. The bottom line also improved 17.2% from $4.95 recorded in the year-ago quarter.
Including one-time items, the company recorded GAAP earnings of $4.85 per share, up 21.6% from the prior-year period’s earnings of $3.99.
The year-over-year improvement in the bottom line can be attributed to higher net sales and operating income in the first quarter than the year-ago quarter’s reported actuals.
Operational Highlights of TDY
Total sales were $1.56 billion, which beat the Zacks Consensus Estimate of $1.51 billion by 3.3%. The top line also jumped 7.6% from $1.45 billion reported in the year-ago quarter. This improvement can be attributed to higher year-over-year sales recorded in the majority of its business segments.
Teledyne Technologies Incorporated Price, Consensus and EPS Surprise
Teledyne Technologies Incorporated price-consensus-eps-surprise-chart | Teledyne Technologies Incorporated Quote
TDY’s Segmental Performance
Instrumentation: Sales in this segment increased 5.3% year over year to $361.4 million, driven by higher sales of marine instrumentation, primarily due to stronger offshore energy and defense markets.
The adjusted operating income declined 4.2% year over year to $91.9 million.
Digital Imaging: Quarterly sales in this division increased 7.9% year over year to $816.9 million. The jump was due to higher sales of infrared imaging detectors, components and subsystems for both defense and commercial applications, as well as higher surveillance and unmanned air systems for defense applications.
The adjusted operating income rose 13.1% year over year to $189.7 million.
Aerospace and Defense Electronics: Sales in this segment totaled $277.5 million, up 14.4% from the prior-year quarter. The improvement was driven by higher sales of defense electronics.
The adjusted operating income increased 23.2% year over year to $77.5 million.
Engineered Systems: Revenues in this division fell 2.6% year over year to $104.3 million due to lower sales of engineered products and energy systems.
This segment's operating income rose 8.3% to $11.7 million.
Financial Condition of TDY
Teledyne’s cash and cash equivalents totaled $521.4 million as of March 29, 2026 compared with $352.4 million as of Dec. 28, 2025.
Its long-term debt was $2.026 billion at the end of the first quarter of 2026 compared with $2.025 billion as of Dec. 28, 2025.
Cash flow from operating activities totaled $234 million for the first quarter compared with $242.6 million in the prior-year period.
TDY generated free cash flow of $204.3 million, down from $224.6 million in the prior-year quarter.
TDY’s Guidance
Teledyne expects to generate adjusted earnings in the band of $5.70-$5.80 per share for the second quarter of 2026. The Zacks Consensus Estimate for TDY’s second-quarter earnings is pegged at $5.79 per share, which is at the higher end of the company's guided range.
For 2026, Teledyne raised its adjusted earnings to be in the range of $23.85-$24.15 per share compared with the prior range of $23.45-$23.85. The Zacks Consensus Estimate for earnings is pegged at $23.90 per share, which is at the lower end of the company's guided range.
TDY’s Zacks Rank
Teledyne currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Q1 Defense Releases
Lockheed Martin Corporation (LMT - Free Report) is set to report first-quarter 2026 results on April 23, before market open.
The Zacks Consensus Estimate for LMT’s earnings is pegged at $6.67 per share. The consensus estimate for its sales is pegged at $18.12 billion, indicating year-over-year growth of 0.9%.
General Dynamics Corporation (GD - Free Report) is set to report first-quarter 2026 results on April 29, before market open.
The Zacks Consensus Estimate for GD’s earnings is pegged at $3.68 per share. The consensus estimate for its sales is pegged at $12.7 billion, calling for a year-over-year rise of 3.9%.
L3Harris Technologies, Inc. (LHX - Free Report) is set to report first-quarter 2026 results on April 30, before market open.
The Zacks Consensus Estimate for LHX’s earnings is pegged at $2.53 per share. The consensus estimate for its sales is pegged at $5.42 billion, implying year-over-year growth of 5.7%.