TE Connectivity Q3 Profit Jumps 17%, Guides Q4 Above Views
TEL is trading near its 52-week low of $177.21 (13% above the low).
Summary
TE Connectivity delivered a strong fiscal Q3: GAAP EPS of $2.55 (up from $2.14) on revenue of $5.16B, a 13.8% increase. Adjusted EPS came in at $2.94. The company guided Q4 EPS to $3.05 and revenue to $5.25B, with the revenue figure already flagged earlier today as likely above consensus. The Q3 beat and Q4 EPS guidance add fresh upside to the story. This follows a robust Q2 report in April that included a $3B buyback boost. The company also filed an 8-K regarding its operations and financial condition.
At the time of this announcement, TEL was trading at $200.00 on NYSE in the Manufacturing sector, with a market capitalization of approximately $61B. The 52-week trading range was $177.21 to $252.56. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: dpa-AFX.