TE Connectivity announces third quarter results for fiscal year 2024
Delivered EPS above guidance driven by strong margin expansion; Record year-to-date cash flow SCHAFFHAUSEN, Switzerland , July 24, 2024 /PRNewswire/ -- TE Connectivity Ltd. (NYSE: TEL ) today reported results for the fiscal third quarter ended June 28, 2024 . TEL ) earnings highlights for the third quarter of fiscal year 2024" alt="TE Connectivity (NYSE: TEL ) earnings highlights for the third quarter of fiscal year 2024"> Third Quarter Highlights Net sales were $4.0 billion , in line with guidance, down 1% on a reported basis year over year and up 2% organically. GAAP diluted earnings per share (EPS) from continuing operations were $1.86 , up 11% year over year. Adjusted EPS exceeded guidance at $1.91 , a quarterly record and up 8% year over year. Orders were $4.1 billion , up 4% year over year and 3% sequentially, driven by momentum in artificial intelligence programs. Operating margins were 19% and adjusted operating margins were 19.3%, up 200 basis points year over year and a quarterly record, driven by strong operational performance.
https://www.benzinga.com/pressreleases/24/07/n39926248/te-connectivity-announces-third-quarter-results-for-fiscal-year-2024