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LONDON, UK / ACCESSWIRE / May 9, 2018 / If you want access to our free earnings report on Sensata Technologies Holding PLC (NYSE: ST) ("Sensata"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ST. Sensata reported its first quarter fiscal 2018 operating and financial results on April 25, 2018. The maker of sensing, electrical protection, control, and power management products reported better than expected revenue and earnings. Additionally, the Company provided guidance for the upcoming quarter and fiscal year 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
Sensata's revenue was $886.3 million in Q1 2018, reflecting an increase of 9.8%, from revenue of $807.3 million in Q1 2017. Excluding a 3.4% positive effect from changes in foreign exchange rates, the Company recorded organic revenue growth of 6.4% in the reported quarter. The Company's reported numbers beat analysts' estimates of $861.2 million.
Sensata's net income surged 26.1% in Q1 2018, totaling $90.5 million, which was 10.2% of revenue, or $0.52 per diluted share, compared to net income of $71.7 million in Q1 2017, which was 8.9% of revenue, or $0.42 per diluted share.
Sensata's adjusted net income totaled $147.0 million in Q1 2018, which was 16.6% of revenue, or $0.85 per diluted share, compared to adjusted net income of $121.5 million in Q1 2017, which was 15.0% of revenue, or $0.71 per diluted share. Changes in foreign exchange rates increased the Company's adjusted earnings per share by $0.03 in the reported quarter. The Company's earnings exceeded Wall Street's estimates of $0.84 per share.
Sensata Technologies Holding's Segment Results
During Q1 2018, the Performance Sensing segment's sales totaled $662.83 million compared to $600.14 million for Q1 2017. The segment's profit as a percentage of revenue totaled 25.6% in the reported quarter. Excluding the impact of changes in foreign exchange rates, the Performance Sensing segment's profit as a percentage of revenue was 26.0%, an increase of 70 basis points compared to the year-ago same period.
For Q1 2018, the Sensing Solutions segment's revenue was $223.46 million compared to $207.13 million for Q1 2017. The segment's profit as a percentage of revenue totaled 32.2% in the reported quarter. Excluding the impact of changes in foreign exchange rates, Sensing Solutions' profit as a percentage of revenue was 32.4%, a decrease of 20 basis points in Q1 2018.
As of March 31, 2018, Sensata's ending cash balance was $828.3 million, an improvement from $753.1 million as of December 31, 2017. During Q1 2018, the Company generated operating cash flow of $123.3 million and free cash flow of $92.3 million. Sensata's net debt at March 31, 2018, was $2,473.2 million, a reduction of $86.2 million from December 31, 2017.
For the second quarter ending June 30, 2018, Sensata is forecasting revenue to total between $891 million and $915 million compared to $839.9 million in Q2 2017, representing organic revenue growth of 3% to 5%. Sensata is forecasting adjusted earnings to be between $156 million and $162 million, or $0.90 and $0.94 per share, in the upcoming quarter, representing organic growth of 5% to 10%.
For full-year 2018, Sensata is forecasting revenue to be between $3.48 billion and $3.58 billion, which would represent organic revenue growth of between 3% and 5%. For FY18, the Company is expecting adjusted EBIT to be between $818 million and $846 million. Sensata is projecting adjusted net income to be in the range of $617 million and $645 million and $3.57 and $3.73 per share, which would represent organic growth of 9% to 13%. Sensata is estimating that changes in foreign currency exchange rates will increase revenues by approximately 2% to 3% and will increase adjusted earnings per share by $0.10 to $0.14 for FY18.
Stock Performance Snapshot
May 8, 2018 - At Tuesday's closing bell, Sensata Technologies' stock was slightly up 0.96%, ending the trading session at $51.29.
Volume traded for the day: 790.31 thousand shares.
Stock performance in the last month – up 0.33%; previous six-month period – up 7.14%; past twelve-month period – up 28.51%; and year-to-date – up 0.35%
After yesterday's close, Sensata Technologies' market cap was at $8.79 billion.
Price to Earnings (P/E) ratio was at 20.71.
The stock is part of the Technology sector, categorized under the Scientific & Technical Instruments industry. This sector was up 0.2% at the end of the session.
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