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State: 17.08.2024 | 11PM
Wed, 24.07.2024       TE Connectivity
CH0102993182

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.

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.Generated record cash flow year to date, including:Cash from operating activities of $2.4 billion, up 22% year over year.Free cash flow of approximately $2.0 billion, up 36% year over year.Deployed over $2.2 billion of capital year to date, with $1.8 billion returned to shareholders
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