- TE Connectivity’s net sales for Q3 2024 were $3.98 billion, meeting estimates of $4.01 billion.
- Transportation Solutions net sales were $2.33 billion, down 4.2% year over year, versus an estimate of $2.39 billion.
- Communications Solutions net sales were $516 million, up 22% year over year, exceeding the estimate of $464.7 million.
- Adjusted operating income was $766 million, up 11% year over year, beating the estimate of $739.7 million.
- Transportation Solutions adjusted operating income was $490 million, up 8.4% year over year, compared to an estimate of $480.1 million.
- Industrial Solutions adjusted operating income was $171 million, down 5% year over year, versus an estimate of $175.3 million.
- Communications Solutions adjusted operating income was $105 million, up 75% year over year, significantly above the estimate of $81 million.
- Industrial Solutions net sales were $1.13 billion, down 0.7% year over year, slightly below the estimate of $1.14 billion.
- Company expects to deliver year-over-year earnings growth and margin expansion in Q4 2024.
- For Q4 FY24, TE Connectivity forecasts net sales of approximately $4.0 billion.
- In the Transportation segment, the automotive business grew 4% organically despite a decline in auto production.
- Three out of four businesses in the Industrial segment continued their growth trajectories.
- TE Connectivity has 10 buy, 11 hold, and 1 sell ratings from analysts.
A look at Te Connectivity Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 2 | |
| Growth | 5 | |
| Resilience | 4 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
TE Connectivity Limited, a company specializing in engineered electronic components and network solutions, has received a positive long-term outlook based on the Smartkarma Smart Scores. With a high Growth score of 5, indicating strong potential for expansion, coupled with above-average scores in Resilience and Momentum, TE Connectivity appears well-positioned for future success. Additionally, the company’s solid Value score underscores its attractiveness from an investment perspective.
TE Connectivity Limited’s diverse product offerings cater to various industries, including automotive, aerospace, and telecommunications. The company’s focus on innovation and market adaptability is reflected in its high Growth score. Moreover, its robust Resilience and Momentum scores suggest a strong foundation and positive market sentiment. While the Dividend score is not as high, TE Connectivity’s overall positive outlook indicates promising prospects for investors seeking long-term growth in the electronic components sector.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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