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TE Connectivity Ltd's Q1 Orders were $3.8B, up 4% YoY

Author: Benzinga Newsdesk | January 24, 2024 07:06am

First Quarter Highlights

Net sales were $3.83 billion, in line with guidance, essentially flat on a reported basis year over year and down 1% organically.
GAAP diluted earnings per share (EPS) from continuing operations were $5.76, including a one-time tax-related benefit, and adjusted EPS were $1.84, up 20% year over year.
Orders were $3.8 billion, up 4% year over year, with year-over-year growth in all segments.
Operating margins were 18.2% and adjusted operating margins were 19.1%, up 290 basis points year over year.
Cash flow from operating activities was $719 million and free cash flow was $570 million, both first quarter records.
Deployed approximately $1 billion of capital in the quarter, including approximately $600 million returned to shareholders and approximately $350 million used for the acquisition of Schaffner.

Posted In: TEL