TE Connectivity (TE Connectivity plc TEL) reported strong fourth-quarter and full-year fiscal 2024 results, exceeding guidance and setting records in key performance areas. The company achieved record operating margins, EPS, and cash generation, driven by strong operational performance and growth in key segments like Transportation, Industrial, and Communications. To further bolster shareholder value, the board of directors authorized a $2.5 billion increase to the share repurchase program.
TE Connectivity (TEL) is set to release its quarterly earnings report on Wednesday, October 30th. Analysts anticipate the company to report earnings per share (EPS) of $1.94. This article analyzes past performance, market sentiment, and peer comparisons to provide insights for investors ahead of the announcement.
TE Connectivity plc (TEL) has officially relocated its parent company from Switzerland to Ireland. This move resulted in shareholders receiving one share of the newly incorporated Irish company for each share previously held. The company remains a U.S. Securities and Exchange Commission reporting company and its shares will continue to trade on the New York Stock Exchange under the symbol TEL. The announcement also details dividend payments and share premium account reduction plans as per Irish law.
TE Connectivity (TEL) reported strong financial results for the second quarter of fiscal 2024, driven by significant margin expansion and record cash flow generation. Net sales were in line with guidance, down 5% year-over-year and 3% organically, but grew 4% sequentially on a reported basis and 3% organically. GAAP diluted earnings per share from continuing operations exceeded guidance, reaching $1.86, an increase of 13% year-over-year. Orders were up 6% sequentially, with growth in all segments. Operating margins were 17.4%, and adjusted operating margins were 18.5%, up 250 basis points year-over-year, driven by strong operational performance. The company generated record cash flow in the first half of the fiscal year, with cash from operating activities up 18% year-over-year and free cash flow up 32% year-over-year. TE Connectivity deployed over $1.5 billion of capital year-to-date, with approximately $1.2 billion returned to shareholders and approximately $350 million used for the bolt-on acquisition of Schaffner. The company also issued its Connecting Our World report, highlighting a 72% reduction in Scope 1 and 2 greenhouse gas emissions over the past three years and set Scope 3 reduction targets validated by the Science Based Targets initiative.
