On July 29, TE Connectivity rose 3.09% in regular trading, trading at $214.035/share, with turnover of $467 million. The rally follows the company's fiscal Q3 earnings release on July 22, which significantly exceeded market expectations alongside optimistic forward guidance.
TE Connectivity reported fiscal Q3 adjusted EPS of $2.94, beating the consensus estimate of $2.84 by 3.52%, representing a 22% year-over-year increase. Net sales reached $5.16 billion, surpassing the $5.003 billion estimate, with 14% reported growth and 12% organic growth. For fiscal Q4, the company guided adjusted EPS of approximately $3.05 versus the FactSet estimate of $2.97, and projected sales of approximately $5.25 billion, representing 11% year-over-year growth. Management highlighted sustained demand from AI computing, automation, and new energy sectors, expressing confidence in achieving full-year double-digit growth targets.
Additionally, the company announced the acquisition of Astrodyne TDI for approximately $1.4 billion, expected to close by year-end, further expanding its portfolio.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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