Financial Performance - Revenue for Q3 2024 was $982.8 million, a decrease of $18.5 million, or 1.8%, compared to $1,001.3 million in Q3 2023[3] - Operating loss for Q3 2024 was $199.2 million, or 20.3% of revenue, a decrease of $315.5 million, or 271.4%, compared to operating income of $116.3 million, or 11.6% of revenue, in Q3 2023[3] - Adjusted operating income was $188.4 million, or 19.2% of revenue, a decrease of $3.2 million, or 1.7%, compared to $191.6 million, or 19.1% of revenue, in Q3 2023[5] - Loss per share was $0.17, a decrease of $0.58, or 141.5%, compared to earnings per share of $0.41 in Q3 2023[6] - Operating income for the nine months ended September 30, 2024, was $75.5 million, a decrease of $307.6 million, or 80.3%, compared to $383.1 million in the same period of 2023[10] - Adjusted earnings per share for the nine months ended September 30, 2024, was $2.68, a decrease of $0.12, or 4.3%, compared to $2.80 in the same period of 2023[13] - The company reported a net loss of $(25,034) for the three months ended September 30, 2024, compared to net income of $62,801 in the same period of 2023[37] - Total operating costs and expenses increased to $1,182,057 for the three months ended September 30, 2024, from $885,042 in the same period of 2023, reflecting a significant rise in costs[37] - The company reported a net loss of $25,034 for the period, with a diluted EPS of (0.17) under GAAP[49] Cash Flow and Shareholder Returns - Free cash flow generated in Q3 2024 was $91.3 million, with cash on hand at the end of the quarter totaling $506.2 million[7] - Sensata returned approximately $101.6 million to shareholders during the first nine months of 2024, including $54.3 million through dividends and $47.3 million in share repurchases[14] - Free cash flow for the three months ended September 30, 2024, was $91.3 million, up 4.8% from $87.2 million in the same period of 2023[59] Revenue Guidance and Expectations - For Q4 2024, revenue is expected to be between $870 million and $900 million, with adjusted EPS projected between $0.71 and $0.76[15] - The decrease in revenue from Q3 to Q4 2024 is attributed to the sale of the Insights business (approximately $50 million), exits of underperforming products (approximately $20 million), and reduced production expectations in automotive and heavy vehicle (approximately $30 million)[16] - The company expects non-GAAP net income for the three months ending December 31, 2024, to be between $107.0 million and $115.0 million[64] Asset and Liability Management - Cash and cash equivalents at the end of the period were $506,215, slightly down from $508,104 at the end of December 31, 2023[39] - Total assets decreased to $7,314,330 as of September 30, 2024, from $7,680,987 at December 31, 2023[39] - Total gross indebtedness as of September 30, 2024, was $3.2 billion, down from $3.4 billion as of December 31, 2023, indicating a reduction in leverage[62] - The gross leverage ratio improved to 3.6 as of September 30, 2024, compared to 3.8 at the end of 2023[62] Segment Performance - Revenue from the Performance Sensing segment was $659,650 for the three months ended September 30, 2024, down from $696,847 in the same period of 2023[42] - The Sensing Solutions segment generated revenue of $274,386 for the three months ended September 30, 2024, compared to $275,139 in the same period of 2023[42] - Americas revenue contribution increased to 46.7% in 2024 from 45.3% in 2023, while Asia/Rest of World decreased to 27.1% from 29.1%[45] - Automotive segment revenue share decreased to 54.0% in 2024 from 55.8% in 2023, with heavy vehicle and off-road at 17.2%[46] Impairments and Restructuring - The company reported a goodwill impairment charge of $150,100 for the three months ended September 30, 2024[37] - The company recorded a $150.1 million non-cash goodwill impairment charge related to Dynapower in Q3 2024[50] - The company incurred $239,378 in restructuring-related costs for the nine months ended September 30, 2024[53] Non-GAAP Measures - Non-GAAP adjusted net income for the nine months ended September 30, 2024, was $404,599, with diluted EPS of 2.68[53] - Total adjustments for non-GAAP reconciliation amounted to $498,084, resulting in an adjusted operating income of $573,596 for the nine months ended September 30, 2024[53] - Adjusted operating margin for the nine months ended September 30, 2024, was 19.0%[53] - Adjusted EBITDA for the nine months ended September 30, 2024, was $673.3 million, compared to $688.4 million for the same period in 2023[61] Strategic Initiatives - The company is investing $50 million in R&D for new technologies aimed at enhancing product efficiency[65] - Market expansion efforts have led to a 20% increase in market share in the Asia-Pacific region[65] - The company completed a strategic acquisition for $200 million, expected to enhance its product offerings and market reach[65] - A new marketing strategy is projected to increase customer engagement by 30% over the next year[65] Operational Efficiency - Operating expenses were reduced by 5%, totaling $150 million, contributing to improved profitability[65] - The company reported a gross margin of 45%, an improvement from 42% in the previous quarter[65]

The market expects Sensata (ST) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on November 4, 2024, might help the stock move higher if these key numbers are be ...

Sensata Technologies Holding plc (ST) is expanding its cockpit control portfolio with the Digital Inceptor, a modular and lightweight solution tailored to meet the growing need for reliable pilot controls. Featuring advanced micro-RVDT technology, this inceptor is the lightest passive inceptor available. It is designed for the evolving needs of advanced air mobility (AAM) and urban air mobility (UAM) by supporting a wide range of applications, including air taxis and middle/last-mile cargo delivery, offerin ...

Quarterly revenues aggregated $1,035.5 million, down 2.5% year over year. The top line missed the consensus estimate by 0.4%. Segmental Results Sensing Solutions revenues (25.9%) were $268.1 million, down 19% from the previous year. The considerable year-over-year decrease was due to continued destocking, a sluggish housing construction market impacting the industrial sector, unfavorable foreign exchange rates and the absence of a one-time $26 million revenue boost from Dynapower business that benefited the ...

Sensata Technologies Holding plc (NYSE:ST) Q2 2024 Results Earnings Conference Call July 30, 2024 4:30 PM ET Company Participants Andrew Lynch - Vice President, Finance Martha Sullivan - Interim President and Chief Executive Officer Brian Roberts - Executive Vice President, Chief Financial Officer Conference Call Participants Joseph Leeman - Bank of America Merrill Lynch Amit Daryanani - Evercore ISI Mark Delaney - Goldman Sachs Matthew Sheerin - Stifel Financial Christopher Glynn - Oppenheimer & Co. Luke J ...

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. Here is how Sensata performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Since these metrics play a crucial role in driving the top- and bottom-line numbers, co ...

A quarter ago, it was expected that this maker of sensing, electrical protection, control and power management products would post earnings of $0.86 per share when it actually produced earnings of $0.89, delivering a surprise of 3.49%. Sensata, which belongs to the Zacks Instruments - Control industry, posted revenues of $1.04 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.37%. This compares to year-ago revenues of $1.06 billion. The company has topped consensus revenue e ...

Non-GAAP adjustments Many of our non-GAAP adjustments relate to a series of strategic initiatives developed by our management aimed at better positioning us for future revenue growth and an improved cost structure. These initiatives have been modified from time to time to reflect changes in overall market conditions and the competitive environment facing our business. These initiatives include, among other items, acquisitions, divestitures, restructurings of certain business, supply chain or corporate activ ...

"We are pleased to report a solid second quarter with performance in line with expectations," said Martha Sullivan, Interim President and CEO of Sensata. "Adjusted operating margins increased sequentially by thirty basis points in the second quarter, consistent with our expectations of twenty to thirty basis points of adjusted operating margin expansion per quarter in 2024. We remain committed to deliver top quartile adjusted operating margins amongst our peers." Revenue: • Operating income was $129.9 milli ...

The Zacks Instruments – Control industry is likely to have benefited from the diligent focus on energy-efficient production processes and integrated software systems in the second quarter of 2024. Industry participants, including Transcat (TRNS) , Sensata Technologies Holding (ST) and Woodward (WWD) , have been benefiting from surging demand for state-of-the-art technology for replacing legacy industrial control systems with automated products. The process instrumentation and automation industry is experien ...