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Teledyne (TDY) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended June 2024, Teledyne Technologies (TDY - Free Report) reported revenue of $1.37 billion, down 3.6% over the same period last year. EPS came in at $4.58, compared to $4.67 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.38 billion, representing a surprise of -0.18%. The company delivered an EPS surprise of +2.00%, with the consensus EPS estimate being $4.49.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Teledyne performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Instrumentation: $333.50 million versus the three-analyst average estimate of $328.63 million. The reported number represents a year-over-year change of +1.6%.
Net Sales- Aerospace and Defense Electronics: $194.40 million versus $188.87 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +4.5% change.
Net Sales- Engineered Systems: $106.80 million compared to the $103.19 million average estimate based on three analysts. The reported number represents a change of -8.7% year over year.
Net Sales- Digital Imaging: $739.40 million versus the three-analyst average estimate of $755.85 million. The reported number represents a year-over-year change of -6.8%.
Operating Income- Instrumentation: $87.20 million compared to the $83.41 million average estimate based on three analysts.
Operating Income- Digital Imaging: $113.50 million compared to the $117.08 million average estimate based on three analysts.
Operating Income- Aerospace and Defense Electronics: $57.10 million versus $50.65 million estimated by three analysts on average.
Operating Income- Engineered Systems: $7.50 million versus the three-analyst average estimate of $7.09 million.
Operating Income- Corporate expense: -$18.30 million compared to the -$18.39 million average estimate based on three analysts.
Non-GAAP Operating Income- Digital Imaging: $159.90 million versus $162.95 million estimated by three analysts on average.
Non-GAAP Operating Income- Instrumentation: $90.70 million versus $86.68 million estimated by three analysts on average.
Non-GAAP Operating Income- Aerospace and Defense Electronics: $57.30 million versus $50.79 million estimated by three analysts on average.
Shares of Teledyne have returned +4.4% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Teledyne (TDY) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2024, Teledyne Technologies (TDY - Free Report) reported revenue of $1.37 billion, down 3.6% over the same period last year. EPS came in at $4.58, compared to $4.67 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.38 billion, representing a surprise of -0.18%. The company delivered an EPS surprise of +2.00%, with the consensus EPS estimate being $4.49.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Teledyne performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales- Instrumentation: $333.50 million versus the three-analyst average estimate of $328.63 million. The reported number represents a year-over-year change of +1.6%.
- Net Sales- Aerospace and Defense Electronics: $194.40 million versus $188.87 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +4.5% change.
- Net Sales- Engineered Systems: $106.80 million compared to the $103.19 million average estimate based on three analysts. The reported number represents a change of -8.7% year over year.
- Net Sales- Digital Imaging: $739.40 million versus the three-analyst average estimate of $755.85 million. The reported number represents a year-over-year change of -6.8%.
- Operating Income- Instrumentation: $87.20 million compared to the $83.41 million average estimate based on three analysts.
- Operating Income- Digital Imaging: $113.50 million compared to the $117.08 million average estimate based on three analysts.
- Operating Income- Aerospace and Defense Electronics: $57.10 million versus $50.65 million estimated by three analysts on average.
- Operating Income- Engineered Systems: $7.50 million versus the three-analyst average estimate of $7.09 million.
- Operating Income- Corporate expense: -$18.30 million compared to the -$18.39 million average estimate based on three analysts.
- Non-GAAP Operating Income- Digital Imaging: $159.90 million versus $162.95 million estimated by three analysts on average.
- Non-GAAP Operating Income- Instrumentation: $90.70 million versus $86.68 million estimated by three analysts on average.
- Non-GAAP Operating Income- Aerospace and Defense Electronics: $57.30 million versus $50.79 million estimated by three analysts on average.
View all Key Company Metrics for Teledyne here>>>Shares of Teledyne have returned +4.4% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.