TE Connectivity (TEL) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, TE Connectivity (TEL) reported revenue of $4 billion, down 2.4% over the same period last year. EPS came in at $1.77, compared to $1.86 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $4.02 billion, representing a surprise of -0.50%. The company delivered an EPS surprise of +6.63%, with the consensus EPS estimate being $1.66.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how TE Connectivity performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net sales- Transportation Solutions: $2.43 billion versus the four-analyst average estimate of $2.38 billion. The reported number represents a year-over-year change of +5.8%.
Net sales- Communications Solutions: $424 million versus $477.92 million estimated by four analysts on average.
Net sales- Industrial Solutions: $1.14 billion versus $1.15 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +0.6% change.
Adjusted Operating Income- Communications Solutions: $60 million versus $82.03 million estimated by four analysts on average.
Adjusted Operating Income- Transportation Solutions: $452 million compared to the $410.84 million average estimate based on four analysts.
Adjusted Operating Income- Industrial Solutions: $180 million versus the four-analyst average estimate of $179.35 million.
View all Key Company Metrics for TE Connectivity here>>>
Shares of TE Connectivity have returned +3.3% over the past month versus the Zacks S&P 500 composite's +5.1% 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.
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TE Connectivity Ltd. (TEL) : Free Stock Analysis Report
