TE Connectivity (TEL) Q1 Earnings Beat on Strong Sales
TE Connectivity Ltd. TEL primarily manufactures and designs products that connect and protect the flow of power and data inside millions of products used by consumers and industries. The company partners with customers in a broad array of industries ranging from consumer electronics, energy, and healthcare to automotive, aerospace and communication networks.
TE Connectivity, a market leader in the connectivity and sensor business, is armed with a comprehensive portfolio that supplements its strength. For the past five years, the company’s harsh business applications have been experiencing mid-single digit growth, bolstering revenues.
Over the past year, strategic acquisitions gave TE Connectivity a leading position in solutions for the minimally-invasive medical market, fortified its portfolio of industrial connectors and bolstered the company’s offering of sensors for the auto market. These factors are expected to drive long-term growth of the company.
TEL has a robust earnings surprise record, having delivered an average earnings surprise of 9.7% in the last four trailing quarters, beating estimates all through.
TE Connectivity Ltd. Price and EPS Surprise
TE Connectivity Ltd. Price and EPS Surprise | TE Connectivity Ltd. Quote
Currently, TEL has a Zacks Rank #3 (Hold) but that could change following its first-quarter fiscal 2018 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key details from the announcement below:
Earnings: TEL beats on earnings. Adjusted earnings per share for the quarter came in at $1.40, ahead of the Zacks Consensus Estimate of $1.25.
Revenue: Revenues of $3,480 million topped the Zacks Consensus Estimate of $3,367 million.
Key Stats: TEL’s orders came in at an impressive $3.5 billion. The company gave impressive earnings and revenue guidance for second-quarter 2018. It expects net sales in the range of $3.55-$3.65 billion, reflecting a growth of 12% at mid-point. Adjusted earnings per share are projected in the band of $1.33 to $1.37, reflecting a growth of 13% year over year at mid-point.
Stock Price: TEL shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back for our full write up on this TEL earnings report later!
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