Here's What Key Metrics Tell Us About Teledyne (TDY) Q3 Earnings
For the quarter ended September 2023, Teledyne Technologies (TDY) reported revenue of $1.4 billion, up 2.9% over the same period last year. EPS came in at $5.05, compared to $4.54 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.43 billion, representing a surprise of -1.67%. The company delivered an EPS surprise of +6.32%, with the consensus EPS estimate being $4.75.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: $329.10 million versus the three-analyst average estimate of $326.20 million. The reported number represents a year-over-year change of +7.4%.
Net Sales- Aerospace and Defense Electronics: $183.30 million versus $181.57 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +8.1% change.
Net Sales- Engineered Systems: $114.30 million compared to the $115.17 million average estimate based on three analysts. The reported number represents a change of +4.1% year over year.
Net Sales- Digital Imaging: $775.80 million compared to the $803.41 million average estimate based on three analysts. The reported number represents a change of -0.3% year over year.
Operating Income- Instrumentation: $85.50 million versus the three-analyst average estimate of $81.30 million.
Operating Income- Digital Imaging: $136.30 million versus the three-analyst average estimate of $135.52 million.
Operating Income- Aerospace and Defense Electronics: $49.40 million compared to the $51.40 million average estimate based on three analysts.
Operating Income- Engineered Systems: $10.90 million compared to the $11.60 million average estimate based on three analysts.
Operating Income- Corporate expense: -$17.80 million versus the three-analyst average estimate of -$16.73 million.
Non-GAAP Operating Income- Aerospace and Defense Electronics: $49.60 million versus $50.47 million estimated by three analysts on average.
Non-GAAP Operating Income- Digital Imaging: $187.50 million versus $180.25 million estimated by three analysts on average.
Non-GAAP Operating Income- Instrumentation: $89 million versus the three-analyst average estimate of $83.06 million.
View all Key Company Metrics for Teledyne here>>>
Shares of Teledyne have returned -5.2% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Teledyne Technologies Incorporated (TDY) : Free Stock Analysis Report
