
$TEL TE Connectivity sees Q2 adjusted EPS $1.96, consensus $1.98 Sees Q2 revenue $3.95B, consensus $4.08B. Second quarter guidance includes 6c of currency exchange and tax headwinds compared to the prior year. The company said, "As we continue our operational excellence and innovate with our valued customers, we expect second quarter sales to be up sequentially and adjusted EPS to be up year over year and compared to the first quarter. We remain excited about capitalizing on long-term growth opportunities, including our bolt-on acquisition strategy and margin expansion plans, to keep delivering on our value creation model."
$TEL TE Connectivity reports Q1 adjusted EPS $1.95, consensus $1.89 Reports Q1 revenue $3.84B, consensus $3.91B. Orders of $4B, were up 6%. "I'm pleased that our team began the fiscal year with a strong operational performance, highlighted by adjusted EPS above guidance and records in both adjusted operating margin and first quarter free cash flow," said TE Connectivity CEO Terrence Curtin. "In our Transportation segment, we continued to navigate an uneven global vehicle production environment to deliver a strong result while continuing to innovate with our global customers in growth trends such as electrification and next-generation vehicle data connectivity. We delivered double digit sales growth in our Industrial segment and expanded margins, driven by momentum in AI programs across multiple customers, as well as capitalizing on ongoing strength in our AD&M and Energy businesses."
$TEL TE Connectivity price target lowered to $167 from $171 at BofA BofA lowered the firm's price target on TE Connectivity to $167 from $171 and keeps a Buy rating on the shares. The firm is modeling the company's fiscal Q1 report below guidance due to currency headwinds. It believes TE's Q2 revenue will be boosted by artificial intelligence revenue, but offset by weaker auto production, persistent weakness in the industrial end and market, and unfavorable currency moves. BofA expects Q2 earnings per share guidance of $1.90, below the Street's $1.99 estimate. However, the analyst says the company continues to deliver solid overall growth and profitability despite a weaker auto production backdrop.
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