Stock Monitor: Amphenol Post Earnings Reporting
LONDON, UK / ACCESSWIRE / January 26, 2018 / Active-Investors.com has just released a free earnings report on TE Connectivity Ltd (NYSE: TEL). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=TEL. The Company reported its first quarter fiscal 2018 operating and financial results on January 24, 2018. The electronics maker outperformed top- and bottom-line expectations, and provided guidance for the upcoming quarter and fiscal year 2018. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Amphenol Corporation (NYSE: APH), which also belongs to the Technology sector as the Company TE Connectivity. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, TE Connectivity most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the quarter ended December 29, 2017, TE Connectivity's net sales were $3.48 billion, up 14% as reported and 8% organically over net sales of $3.06 billion in Q1 FY17. The Company's revenue numbers exceeded analysts' expectations of $3.37 billion.
During Q1 FY18, TE Connectivity's GAAP operating income was $581 million, and included $35 million of restructuring charges and $7 million of acquisition charges, compared to an operating income of $495 million in Q1 FY17. The Company's adjusted operating income was $623 million, with an adjusted operating margin of 17.9%, leveraging the strong organic growth of 8%.
For Q1 FY18, TE Connectivity's diluted earnings per share (EPS) from continuing operations were a loss of $0.11, reflecting a one-time charge associated with new US tax regulations. The Company's adjusted EPS surged 22% to $1.40, which is a record on a quarterly basis for the Company. TE Connectivity's earnings beat Wall Street's estimates of $1.25 per share.
During Q1 FY18, TE Connectivity's Transportation Solutions segment's net sales surged 21.3% to $2.03 billion, as a result of sales increases in all end markets. The segment's operating income advanced 21% at $420 million versus $348 million in the year earlier same quarter.
The Company's Industrial Solutions segment's net sales advanced 10.9% to $882 million, primarily due to increased sales in the industrial equipment end market. The segment's operating income soared 46% to $102 million versus $70 million in the year earlier comparable quarter.
For Q1 FY18, TE Connectivity's Communications Solutions segment's net sales decreased 4.6% to $566 million, with sales declines in the subsea communications end market, partially offset by sales increases in the appliances and, to a lesser degree, the data and devices end markets. The segment recorded an operating income of $59 million compared to $77 million in the year earlier corresponding quarter.
TE Connectivity's cash flow from continuing operating activities was $350 million and free cash flow was $127 million, with $355 million returned to shareholders.
Excluding SubCom, total orders were $3.5 billion, up 11% organically over the first quarter of 2017; while the book-to-bill ratio was 1.06.
For the second quarter of the fiscal year 2018, TE Connectivity is forecasting net sales of $3.55 billion to $3.65 billion, reflecting an increase of 12% on an actual basis and 6% on an organic basis y-o-y at the mid-point.
TE Connectivity is forecasting diluted EPS from continuing operations to be in the range of $1.18 to $1.22, including net restructuring, acquisition-related, and other charges of $0.15. The Company expects an adjusted EPS of $1.33 to $1.37 which represents a 13% improvement at the mid-point versus Q2 FY17.
For the full fiscal year 2018, TE Connectivity is projecting net sales of $14.1 billion to $14.3 billion, reflecting an 8% actual and a 5% organic growth at the mid-point versus the prior year. The Company's diluted EPS from continuing operations is expected to be between $3.61 to $3.71, including net restructuring, acquisition-related, and other charges of $0.37, and a tax-related charge of $1.42. TE Connectivity is expecting adjusted EPS of $5.40 to $5.50 for FY18, reflecting a 13% growth at the mid-point compared to FY17.
Stock Performance Snapshot
January 25, 2018 - At Thursday's closing bell, TE Connectivity's stock was marginally up 0.24%, ending the trading session at $102.64.
Volume traded for the day: 2.64 million shares, which was above the 3-month average volume of 1.64 million shares.
Stock performance in the last month – up 8.10%; previous three-month period – up 15.21%; past twelve-month period – up 36.54%; and year-to-date – up 8.00%
After yesterday's close, TE Connectivity's market cap was at $36.44 billion.
Price to Earnings (P/E) ratio was at 21.95.
The stock has a dividend yield of 1.56%.
The stock is part of the Technology sector, categorized under the Diversified Electronics industry. This sector was flat at the end of the session.
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