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 June 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 stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July ...

Company Overview - Motorola provides services and solutions to government segments, public safety programs, large enterprises, and wireless infrastructure service providers, focusing on analog and digital two-way radio, voice and data communications products, and end-to-end enterprise mobility solutions [1] - Sensata Technologies (ST) is a global industrial technology company that develops, manufactures, and sells sensors and sensor-rich solutions, as well as electrical protection components and systems [5] Recent Financial Performance - In the last reported quarter, ST's revenues increased by 0.9% year over year to $1,006.7 million, surpassing the consensus mark by 1.9% [2] Product Launches and Innovations - Sensata recently launched its SGX Series of contactors, designed for low-power applications such as residential energy storage systems and DC fast charging stations [3] - The SGX Series includes models SGX150, SGX250, and SGX400, featuring gas-backfilled designs for low and stable contact resistance, optimized for specific applications [9][10] - ST enhanced its PreView Radar product portfolio with the launch of PreView STA79, aimed at improving operator awareness and fleet safety for medium and heavy-duty vehicles [6] Technological Advancements - The SGX Series contactors utilize ceramic-to-metal weld technology for a hermetically sealed design, allowing usage up to 175°C and effective management of over-current situations [4] - The SGX Series adheres to industry standards such as IEC 60664-1 and RoHS, and is UL certified, ensuring compliance with safety and performance requirements [11] Business Growth and Market Position - Sensata has secured over $2.3 billion in new business over the past three years, with $1.3 billion coming from the electrification business, indicating strong growth in this sector [7] - Frequent product launches are contributing to top-line expansion for Sensata, positioning the company for robust organic growth [14] Stock Performance - ST currently holds a Zacks Rank 3 (Hold), with shares having lost 15.9% over the past year compared to the sub-industry's growth of 18.6% [12]

choochart choochaikupt/iStock via Getty Images Sensata Technologies (NYSE:ST) has been an exasperating company to follow. Although there aren't really great "apples to apples" comps for the company, it doesn't really matter if you evaluate it as an auto supplier, an industrial, or some sort of technology-driven hybrid. By any metric, the shares have been a notable underperformer over the last five years, not to mention the year and a half or so since my last update on the company. I could argue that the com ...

Core Viewpoint - Sensata's recent earnings report indicates a mixed performance with adjusted EPS surpassing estimates, while revenue growth remains modest, highlighting both challenges and opportunities in its business segments [2][12]. Financial Performance - Sensata reported Q1 2024 adjusted EPS of 89 cents, slightly down from 92 cents a year ago, but above the Zacks Consensus Estimate of 86 cents [2]. - Quarterly revenues reached $1,006.7 million, reflecting a year-over-year increase of 0.9% and beating the consensus estimate by 1.9% [2]. - Organic growth was 2.3%, although it was partially offset by unfavorable foreign exchange movements [2]. Segmental Results - Performance Sensing revenues, which account for 70.9% of total revenues, increased by 6.8% year over year to $713.3 million, driven by growth in Automotive and Heavy vehicle off-road sectors [5]. - Sensing Solutions revenues, making up 25.6% of total revenues, decreased by 9% to $257.8 million, primarily due to an industrial down-cycle and unfavorable forex movements, despite growth in the Aerospace category [6]. - Other revenues, which constitute 3.5% of total revenues, fell by 24.3% to $35.6 million [7]. Operating Income and Expenses - Total operating income was $144.8 million, down from $148.8 million in the prior-year quarter, with total operating expenses rising to $861.9 million from $849.3 million [8]. - Adjusted operating income decreased by 2.3% to $188.5 million, mainly due to unfavorable foreign currency movements [8]. Cash Flow and Liquidity - Sensata generated $106.5 million in net cash from operating activities, up from $96.9 million a year ago, with free cash flow increasing to $64.4 million from $60 million [10]. - As of March 31, 2024, the company had $460.4 million in cash and cash equivalents and $3,375.5 million in net long-term debt [10]. Shareholder Returns - In the reported quarter, Sensata returned $28.1 million to shareholders through dividends and share repurchases [11]. Guidance - For Q2 2024, Sensata projects revenues between $1,025 million and $1,055 million, indicating a decline of 3% to 1% year-over-year [12]. - Adjusted operating income is expected to be between $192 million and $202 million, reflecting a year-over-year decline of 7% to 2% [12]. - Adjusted EPS is estimated to be between 89 cents and 95 cents, suggesting a decline of 8% to 2% [12]. Market Sentiment - Estimates for Sensata have trended upward over the past month, indicating a positive outlook despite the mixed earnings report [13][15]. - The stock has an average Growth Score of C and a value grade of A, placing it in the top quintile for investment strategy [14].

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Sensata Technologies Holding plc (NYSE:ST) Q1 2024 Results Conference Call April 29, 2024 4:30 PM ET Company Participants Alexia Taxiarchos - VP, Corporate Communications Jeff Cote - CEO, President Brian Roberts - CFO Conference Call Participants Wamsi Mohan - Bank of America Matt Sheerin - Stifel Mark Delaney - Goldman Sachs Christopher Glynn - Oppenheimer Shreyas Patil - Wolfe Research William Stein - Truist Securities Manmohanpreet Singh - JP Morgan Luke Junk - Baird Joe Giordano - TD Cowen Irvin Liu - ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q _________________________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-34652 SENSATA TECHNOLOGIES HOL ...

[Sensata Technologies Q1 2024 Financial Results Overview](index=1&type=section&id=Sensata%20Technologies%20Q1%202024%20Financial%20Results%20Overview) [Q1 2024 Highlights and CEO Statement](index=1&type=section&id=Q1%202024%20Highlights%20and%20CEO%20Statement) Sensata Technologies reported a solid Q1 2024, achieving upper-end guidance for revenue and adjusted operating margin, securing over **$1.3 billion** in electrification business - Sensata Technologies reported a solid start to Q1 2024, with revenue and adjusted operating margin reaching the upper end of guidance[2](index=2&type=chunk) - The company secured over **$1.3 billion** in electrification business over the past three years, solidifying its position as a trusted electrification partner[2](index=2&type=chunk) [First Quarter 2024 Financial Performance](index=1&type=section&id=First%20Quarter%202024%20Financial%20Performance) [Key Financial Metrics](index=1&type=section&id=Key%20Financial%20Metrics) Sensata's Q1 2024 revenue increased 0.9% to **$1,006.7 million**, while operating income decreased 2.7% to **$144.8 million**, and adjusted diluted EPS fell 3.3% to **$0.89** Q1 2024 Key Financial Metrics (Year-over-Year) | Metric | Q1 2024 (Millions) | Q1 2023 (Millions) | Change (%) | |:--------------------|:-------------------|:-------------------|:---------| | Revenue | $1,006.7 | $998.2 | +0.9% | | Revenue (Constant Currency) | N/A | N/A | +2.3% | | Operating Income | $144.8 | $148.8 | -2.7% | | Operating Income (% of Revenue) | 14.4% | 14.9% | -0.5 pp | | Adjusted Operating Income | $188.5 | $192.9 | -2.3% | | Adjusted Operating Income (% of Revenue) | 18.7% | 19.3% | -0.6 pp | | Diluted EPS | $0.50 | $0.56 | -10.7% | | Adjusted Diluted EPS | $0.89 | $0.92 | -3.3% | | Adjusted Diluted EPS (Constant Currency) | N/A | N/A | +1.1% | [Cash Flow and Shareholder Returns](index=2&type=section&id=Cash%20Flow%20and%20Shareholder%20Returns) Sensata's Q1 2024 operating cash flow increased to **$106.5 million** and free cash flow to **$64.4 million**, with **$28.1 million** returned to shareholders via dividends and share repurchases Q1 2024 Cash Flow and Shareholder Returns | Metric | Q1 2024 (Millions) | Q1 2023 (Millions) | Change | |:-----------------------|:-------------------|:-------------------|:-------| | Operating Cash Flow | $106.5 | $96.9 | +$9.6M | | Free Cash Flow | $64.4 | $60.0 | +$4.4M | | Total Shareholder Returns | $28.1 | N/A | N/A | | Dividends Paid | $18.1 | N/A | N/A | | Shares Repurchased | $10.1 | N/A | N/A | [Second Quarter 2024 Guidance](index=2&type=section&id=Second%20Quarter%202024%20Guidance) [Q2 2024 Financial Outlook](index=2&type=section&id=Q2%202024%20Financial%20Outlook) Sensata forecasts Q2 2024 revenue between **$1.025 billion** and **$1.055 billion**, a 1-3% year-over-year decrease, with adjusted EPS projected at **$0.89** to **$0.95**, down 2-8% Q2 2024 Guidance (Year-over-Year) | Metric | Q2 2024 Guidance | Q2 2023 | Y/Y Change | |:--------------------|:-------------------|:-------------------|:---------| | Revenue | $1,025 - $1,055M | $1,062.1M | (3%) - (1%) | | Organic Growth | N/A | N/A | (2%) - 1% | | Adjusted Operating Income | $192 - $202M | $205.7M | (7%) - (2%) | | Adjusted Net Income | $134 - $144M | $149.2M | (10%) - (4%) | | Adjusted EPS | $0.89 - $0.95 | $0.97 | (8%) - (2%) | - Foreign exchange rate changes are expected to reduce Q2 2024 revenue by approximately **$13 million** and adjusted EPS by approximately **$0.02**[9](index=9&type=chunk) [Company Information and Disclosures](index=2&type=section&id=Company%20Information%20and%20Disclosures) [Conference Call and Webcast Information](index=2&type=section&id=Conference%20Call%20and%20Webcast%20Information) Sensata Technologies held a conference call on April 29, 2024, to discuss Q1 2024 financial results and Q2 outlook, with dial-in and webcast details provided - Sensata held a conference call on April 29, 2024, to discuss Q1 2024 financial results and the Q2 outlook[10](index=10&type=chunk) - The conference call dial-in numbers are 1-844-784-1726 or 1-412-380-7411, with the conference name 'Sensata Q1 2024 Financial Results Conference Call'[10](index=10&type=chunk) - The webcast is available on the company's investor relations page at http://investors.sensata.com, with replay services until May 6, 2024[10](index=10&type=chunk) [About Sensata Technologies](index=2&type=section&id=About%20Sensata%20Technologies) Sensata Technologies is a global industrial technology company focused on creating a cleaner, more efficient, electrified, and connected world through advanced sensing solutions - Sensata Technologies is a global industrial technology company committed to creating a cleaner, more efficient, electrified, and connected world[11](index=11&type=chunk) - The company serves automotive, heavy vehicle and off-road, industrial, and aerospace markets with a wide range of sensors, electrical protection components, and sensor-rich solutions[11](index=11&type=chunk) - Sensata employs over **21,000** people across **16** countries worldwide[11](index=11&type=chunk) [Non-GAAP Financial Measures: Definitions](index=2&type=section&id=Non-GAAP%20Financial%20Measures%3A%20Definitions) Sensata supplements GAAP reporting with non-GAAP financial measures, including adjusted net income, adjusted EPS, and free cash flow, for internal operations, strategic decisions, and investor transparency - Sensata uses non-GAAP financial measures such as adjusted net income, adjusted EPS, adjusted operating income, free cash flow, organic revenue growth, and adjusted EBITDA to supplement GAAP reporting[15](index=15&type=chunk) - These non-GAAP metrics are utilized for internal operations and strategic decisions, including annual operating plan development, overall business performance assessment, and certain employee compensation determinations[12](index=12&type=chunk) - The company believes these measures aid in understanding ongoing operations, analyzing operating trends, and providing additional transparency[13](index=13&type=chunk) [Safe Harbor Statement](index=5&type=section&id=Safe%20Harbor%20Statement) This earnings release contains forward-looking statements regarding future financial and operating performance, subject to various risks and uncertainties that could materially affect actual results - This earnings release contains forward-looking statements concerning expectations, forecasts, and assumptions about future financial and operating performance, objectives, business, and market outlook[25](index=25&type=chunk) - These statements are subject to various potential risks, uncertainties, and other factors, including global market instability, supplier disruptions, business acquisitions or dispositions, industry competition, intellectual property, product liability, warranty and recall claims, new product market acceptance, and labor disputes[26](index=26&type=chunk) - Investors should carefully consider these factors and other risks described in the company's Form 10-K and Form 10-Q reports, with no obligation to update these statements unless legally required[27](index=27&type=chunk) [Media & Investor Contact](index=14&type=section&id=Media%20%26%20Investor%20Contact) Contact information for media and investors is provided, including the name, phone number, and email address of Alexia Taxiarchos - Media and Investor Contact: Alexia Taxiarchos, Phone: (508) 236-1761, Email: ataxiarchos@sensata.com, investors@sensata.com[50](index=50&type=chunk) [Condensed Consolidated Financial Statements](index=6&type=section&id=Condensed%20Consolidated%20Financial%20Statements) [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Sensata's Q1 2024 net revenue was **$1,006.7 million**, slightly above Q1 2023, with operating income decreasing to **$144.8 million** and net income falling to **$76.0 million** Q1 2024 Condensed Consolidated Statements of Operations | Metric | Q1 2024 (Millions) | Q1 2023 (Millions) | |:--------------------------------|:-------------------|:-------------------| | Net revenue | $1,006.7 | $998.2 | | Total operating costs and expenses | $861.9 | $849.3 | | Operating income | $144.8 | $148.8 | | Income before taxes | $98.6 | $110.1 | | Provision for income taxes | $22.6 | $23.7 | | Net income | $76.0 | $86.4 | | Diluted EPS | $0.50 | $0.56 | [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2024, total assets were **$7.616 billion**, slightly down from December 31, 2023, with cash and equivalents at **$460.4 million** and total liabilities at **$4.641 billion** March 31, 2024 Condensed Consolidated Balance Sheets | Metric | March 31, 2024 (Millions) | December 31, 2023 (Millions) | |:--------------------------------|:--------------------------|:--------------------------| | Cash and cash equivalents | $460.4 | $508.1 | | Total current assets | $2,098.5 | $2,102.4 | | Total assets | $7,616.0 | $7,681.0 | | Total current liabilities | $794.0 | $823.7 | | Long-term debt, net | $3,375.5 | $3,374.0 | | Total liabilities | $4,641.1 | $4,684.7 | | Total shareholders' equity | $2,974.8 | $2,996.3 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) In Q1 2024, net cash from operating activities increased to **$106.5 million**, with **$42.1 million** used in investing activities and **$107.9 million** in financing activities, primarily due to reduced debt payments Q1 2024 Condensed Consolidated Statements of Cash Flows | Metric | Q1 2024 (Millions) | Q1 2023 (Millions) | |:------------------------------------|:-------------------|:-------------------| | Net cash provided by operating activities | $106.5 | $96.9 | | Net cash used in investing activities | $(42.1) | $(22.9) | | Net cash used in financing activities | $(107.9) | $(265.4) | | Net change in cash and cash equivalents | $(47.7) | $(191.4) | | Cash and cash equivalents, end of period | $460.4 | $1,034.1 | [Segment and Revenue Analysis](index=9&type=section&id=Segment%20and%20Revenue%20Analysis) [Segment Performance Overview](index=9&type=section&id=Segment%20Performance%20Overview) In Q1 2024, Sensata adjusted segments, moving 'Insights' to 'Other', with Performance Sensing revenue increasing to **$713.3 million** and Sensing Solutions revenue decreasing to **$257.8 million** Q1 2024 Segment Performance (Year-over-Year) | Segment | Q1 2024 Revenue (Millions) | Q1 2023 Revenue (Millions) | Q1 2024 Operating Income (Millions) | Q1 2023 Operating Income (Millions) | Q1 2024 Operating Margin | Q1 2023 Operating Margin | |:------------------|:---------------------------|:---------------------------|:------------------------------------|:------------------------------------|:-------------------------|:-------------------------| | Performance Sensing | $713.3 | $667.8 | $185.1 | $169.1 | 26.0% | 25.3% | | Sensing Solutions | $257.8 | $283.5 | $72.5 | $84.0 | 28.1% | 29.6% | | Other | $35.6 | $47.0 | $6.8 | $5.0 | 19.1% | 10.6% | - Effective January 1, 2024, the company adjusted its operating segments, moving 'Insights' from Performance Sensing to a new 'Other' segment, with prior-period data restated accordingly[35](index=35&type=chunk) [Revenue by Business, Geography, and End Market](index=10&type=section&id=Revenue%20by%20Business%2C%20Geography%2C%20and%20End%20Market) In Q1 2024, Performance Sensing comprised **70.9%** of total revenue, Sensing Solutions decreased to **25.6%**, and Automotive remained the largest end market at **55.9%** Q1 2024 Revenue Composition (Percentage of Total Revenue) | Category | Q1 2024 | Q1 2023 | |:------------------------|:------|:------| | **By Business:** | | | | Performance Sensing | 70.9% | 66.9% | | Sensing Solutions | 25.6% | 28.4% | | Other | 3.5% | 4.7% | | **By Geography:** | | | | Americas | 42.6% | 45.3% | | Europe | 28.3% | 27.2% | | Asia/Rest of World | 29.1% | 27.5% | | **By End Market:** | | | | Automotive | 55.9% | 52.6% | | Heavy vehicle and off-road | 18.8% | 17.5% | | Industrial | 12.4% | 14.9% | | Appliance and HVAC | 4.7% | 4.8% | | Aerospace | 4.6% | 4.4% | | All other | 3.6% | 5.8% | - Effective January 1, 2024, the Insights business was moved to the 'All other' end market, and prior-period information in the table has been restated accordingly[40](index=40&type=chunk) [GAAP to Non-GAAP Reconciliations](index=11&type=section&id=GAAP%20to%20Non-GAAP%20Reconciliations) [Operating Income and Margin, Net Income, and Earnings Per Share Reconciliation](index=11&type=section&id=Operating%20income%20and%20margin%2C%20income%20tax%2C%20net%20income%2C%20and%20earnings%20per%20share) This section details the Q1 2024 and Q1 2023 GAAP to adjusted non-GAAP reconciliation for operating income, net income, and diluted EPS, including restructuring and transaction costs Q1 2024 Operating Income, Net Income, and EPS Reconciliation | Metric | Reported (GAAP) Q1 2024 (Millions) | Total Adjustments Q1 2024 (Millions) | Adjusted (non-GAAP) Q1 2024 (Millions) | Reported (GAAP) Q1 2023 (Millions) | Total Adjustments Q1 2023 (Millions) | Adjusted (non-GAAP) Q1 2023 (Millions) | |:--------------------|:---------------------------|:---------------------------|:-----------------------------|:---------------------------|:---------------------------|:-----------------------------| | Operating Income | $144.8 | $43.7 | $188.5 | $148.8 | $44.1 | $192.9 | | Operating Margin | 14.4% | 4.3% | 18.7% | 14.9% | 4.4% | 19.3% | | Net Income | $76.0 | $58.6 | $134.6 | $86.4 | $54.2 | $140.7 | | Diluted EPS | $0.50 | $0.39 | $0.89 | $0.56 | $0.35 | $0.92 | - Q1 2024 adjustments include a **$14.8 million** mark-to-market loss on an equity investment, reported in 'Other, net' on the condensed consolidated statements of operations[42](index=42&type=chunk)[43](index=43&type=chunk) [Free Cash Flow Reconciliation](index=12&type=section&id=Free%20cash%20flow) Q1 2024 free cash flow increased 7.3% to **$64.4 million**, driven by **$106.5 million** net cash from operating activities, offset by **$42.1 million** in capital expenditures Q1 2024 Free Cash Flow Reconciliation | Metric | Q1 2024 (Millions) | Q1 2023 (Millions) | Change (%) | |:----------------------------------------------------|:-------------------|:-------------------|:---------| | Net cash provided by operating activities | $106.5 | $96.9 | 9.9% | | Additions to property, plant and equipment and capitalized software | $(42.1) | $(36.9) | (14.2%) | | Free cash flow | $64.4 | $60.0 | 7.3% | [Adjusted Corporate and Other Expenses Reconciliation](index=12&type=section&id=Adjusted%20corporate%20and%20other%20expenses) Q1 2024 adjusted corporate and other expenses were **$(74.5) million**, compared to **$(63.4) million** in Q1 2023, including adjustments for restructuring, transaction costs, and depreciation Q1 2024 Adjusted Corporate and Other Expenses Reconciliation | Metric | Q1 2024 (Millions) | Q1 2023 (Millions) | |:------------------------------------|:-------------------|:-------------------| | Corporate and other expenses (GAAP) | $(80.3) | $(62.4) | | Total adjustments | $5.8 | $(1.0) | | Adjusted corporate and other expenses (non-GAAP) | $(74.5) | $(63.4) | [Adjusted EBITDA Reconciliation](index=13&type=section&id=Adjusted%20EBITDA) Q1 2024 adjusted EBITDA was **$223.8 million**, slightly below Q1 2023's **$225.5 million**, reconciled from net income by adding back interest, taxes, depreciation, amortization, and non-GAAP adjustments Q1 2024 Adjusted EBITDA Reconciliation | Metric | Q1 2024 (Millions) | Q1 2023 (Millions) | |:--------------------------|:-------------------|:-------------------| | Net income | $76.0 | $86.4 | | EBITDA | $205.3 | $222.0 | | Non-GAAP Adjustments | $18.6 | $3.5 | | Adjusted EBITDA | $223.8 | $225.5 | [Net Debt and Leverage Reconciliation](index=13&type=section&id=Net%20debt%20and%20leverage) As of March 31, 2024, total gross indebtedness was **$3.425 billion**, with a gross leverage ratio of **3.8x**, and net debt was **$2.965 billion**, resulting in a net leverage ratio of **3.3x** March 31, 2024 Net Debt and Leverage | Metric | March 31, 2024 (Millions) | December 31, 2023 (Millions) | |:------------------------------------|:--------------------------|:--------------------------| | Total gross indebtedness | $3,424.9 | $3,425.2 | | Adjusted EBITDA (LTM) | $905.0 | $906.6 | | Gross leverage ratio | 3.8 | 3.8 | | Net debt | $2,964.6 | $2,917.1 | | Net leverage ratio | 3.3 | 3.2 | [Q2 2024 Guidance Reconciliation](index=14&type=section&id=Q2%202024%20Guidance%20Reconciliation) This section provides the Q2 2024 GAAP to non-GAAP guidance reconciliation for operating income, net income, and EPS, with non-GAAP adjustments primarily including restructuring and transaction costs Q2 2024 Guidance (GAAP to Non-GAAP Reconciliation) | Metric | GAAP Low | GAAP High | Non-GAAP Low | Non-GAAP High | |:------------------------------------|:-------|:--------|:-----------|:------------| | Operating Income (Millions) | $140.5 | $145.0 | $192.0 | $202.0 | | Net Income (Millions) | $77.0 | $80.3 | $134.0 | $144.0 | | EPS | $0.50 | $0.53 | $0.89 | $0.95 |

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________________________________________________________________________ FORM 10-K __________________________________________________________________________________________________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO ...