Additional Financial Information | --- | --- | --- | --- | --- | |--------------------------------------------------------------------|-------|---------------|-------|----------------| | Free Cash Flow | | Second \n2024 | | Quarter \n2023 | | Cash provided by operating activities | $ | 318.7 | $ | 190.5 | | Capital expenditures for property, plant and equipment | | (17.7) | | (27.3) | | Free cash flow | $ | 301.0 | $ | 163.2 | Outlook Forward-Looking Statements Cautionary Notice | --- | --- | --- | --- | -- ...

Teledyne Technologies Incorporated (TDY) is slated to report second-quarter 2024 results on Jul 24, before market open. Digital Imaging Sales to Reflect a Bump The Zacks Consensus Estimate for the Digital Imaging segment's second-quarter revenues is pegged at $755.9 million. This indicates a decline of 4.7% from the top line reported in the year-ago quarter. The Instrumentation unit's revenue performance in the second quarter is likely to have benefited from marine electronics and unmanned underwater system ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Teledyne Technologies (TDY) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of busi ...

Core Viewpoint - Teledyne Technologies, Inc. has secured a $15 million contract to supply over 150 ThermoSight HISS-XLR weapon sights to a NATO partner nation, which is expected to enhance its revenue generation prospects in the military thermal weapon sights market [10][3]. Company Overview - Teledyne is recognized for producing advanced technological solutions for the aerospace and defense sectors, including military thermal weapon sights that are essential for effective target detection and engagement in low visibility conditions [12]. - The ThermoSight HISS-XLR is capable of identifying man-sized targets over 2,000 meters away and can be integrated with various day scopes and weapon platforms [11]. Market Growth Prospects - The global military thermal weapon sights market is projected to grow at a CAGR of 6.7% from 2024 to 2028, which is favorable for Teledyne given its extensive range of thermal weapon sights [4]. - Other defense companies, such as DRS and BAE Systems, are also positioned to benefit from this market expansion, with DRS showing a long-term earnings growth rate of 16.4% and BAE Systems projecting a 34.6% increase in 2024 sales [4][15]. Competitive Landscape - L3Harris Technologies offers the Light Weapon Thermal Sight - Long Range, which can detect long-wave infrared targets in challenging conditions, and has a long-term earnings growth rate of 9.3% [6]. - Leonardo DRS provides various military thermal weapon sights, including the Improved Night / Day Observation Device Block III, which enhances visibility for snipers in adverse conditions [14]. Recent Performance - Teledyne's stock (TDY) has experienced a decline of 1.3% over the past three months, contrasting with the industry growth of 6.5% [7].

Teledyne AxCIS Contact Image Sensor 照片说明：新的AxCIS是一种高速、高分辨率的线阵扫描解决方案，现已推出彩色版本 加拿大滑铁卢, July 09, 2024 (GLOBE NEWSWIRE) -- Teledyne DALSA欣然宣布，公司的AxCIS™系列高速和高分辨率全集成式线阵扫描成像模块现已推出彩色版本。这些易于使用的接触式图像传感器(CIS)集传感器、镜头和光源于一体，为包括电池和印刷检测在内的许多要求苛刻的机器视觉应用提供成本更低的检测系统。 在Teledyne的多线CMOS图像传感器得加持下，AxCIS能够提供卓越的图像质量，在28µm像素大小或900dpi分辨率下能够实现60kHz x 3的原生RGB颜色线率，因此能够以前所未有的精度进行缺陷检测。独特的传感器设计覆盖整个视场，没有坏点，无需任何插值即可提供100%无缝图像。除了用于缺陷检测外，其独特的设计还支持准确的计量应用。 AxCIS采用可扩展设计，适用于各种视场，由单一的24V电源供电。AxCIS外形小巧，采用IP50防尘设计光学路径，几乎可以应用于系统中的任何位置，就算是垂直间隙有限的地 ...

Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The Canberra Times, and... Read more Abou ...

Core Insights - Ocean Power Technologies, Inc. (OPT) has signed an Original Equipment Manufacturer (OEM) agreement with Teledyne Marine to enhance its product offerings and drive innovation in the marine technology sector [1][5] - The partnership aims to provide customers with a turnkey system, leveraging Teledyne's advanced technology and products [2][5] Company Overview - Ocean Power Technologies specializes in low-carbon marine power, data, and service solutions, focusing on intelligent maritime solutions for various markets including defense, oil and gas, science, research, and offshore wind [6] - The company’s PowerBuoy® platforms deliver clean electric power and real-time data communications for remote maritime and subsea applications [6] Teledyne Marine Overview - Teledyne Marine is a division of Teledyne Technologies, known for its subsea technology solutions, including imaging, instruments, interconnect, seismic, and vehicle technology [7] - The division aims to provide comprehensive solutions to industries such as hydrography, offshore, dredging, defense, and marine research [7]

Teledyne Technologies, Inc.'s (TDY) business unit, Teledyne FLIR Defense, recently introduced its latest portable and modular robot, the SUGV 325, at the Eurosatory exhibition. This launch should expand TDY's footprint in the booming portable robotics market space. Significance of SUGV 325 The SUGV 325 is an unmanned ground vehicle (UGV) that comes with a speed of up to 7 miles per hour (mph), thereby offering superior mobility in the portable robotics space. In its lightest operational configuration, the S ...

A month has gone by since the last earnings report for Teledyne Technologies (TDY) . Shares have added about 6.4% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Teledyne due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Digital Imaging: Quarterly sales in this divis ...

Part I This section covers unaudited condensed consolidated financial statements, management's discussion and analysis, market risk, and controls [Financial Statements](index=2&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for Q1 2024, including detailed notes [Condensed Consolidated Statements of Income (Loss)](index=2&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income%20(Loss)) Net sales decreased to $1.35 billion in Q1 2024, with operating income also declining, while net income remained stable at $178.5 million Q1 2024 vs Q1 2023 Income Statement Highlights | Metric | Q1 2024 (in millions) | Q1 2023 (in millions) | Change | | :--- | :--- | :--- | :--- | | **Net sales** | $1,350.1 | $1,383.3 | -2.4% | | **Operating income** | $234.3 | $242.5 | -3.4% | | **Net income attributable to Teledyne** | $178.5 | $178.7 | -0.1% | | **Diluted earnings per common share** | $3.72 | $3.73 | -0.3% | [Condensed Consolidated Statements of Comprehensive Income (Loss)](index=3&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) Comprehensive income significantly decreased to $87.6 million in Q1 2024, primarily due to a large negative foreign exchange translation adjustment - A significant foreign exchange translation adjustment of **-$88.8 million** caused a sharp drop in comprehensive income to **$87.6 million** in Q1 2024 from **$178.4 million** in Q1 2023[11](index=11&type=chunk) [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to $14.64 billion as of March 31, 2024, driven by a significant rise in cash and cash equivalents to $912.4 million Balance Sheet Highlights | Metric (in millions) | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $912.4 | $648.3 | | **Total current assets** | $3,223.6 | $2,981.4 | | **Goodwill** | $7,956.0 | $8,002.8 | | **Total Assets** | $14,639.2 | $14,527.9 | | **Total Liabilities** | $5,306.0 | $5,302.1 | | **Total Stockholders' Equity** | $9,328.0 | $9,221.2 | [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities significantly increased to $291.0 million in Q1 2024, while cash used in investing activities decreased Cash Flow Summary (Three Months Ended) | Activity (in millions) | March 31, 2024 | April 2, 2023 | | :--- | :--- | :--- | | **Net cash from operating activities** | $291.0 | $203.0 | | **Net cash from investing activities** | $(15.9) | $(76.9) | | **Net cash from financing activities** | $6.1 | $(103.4) | | **Change in cash and cash equivalents** | $264.1 | $27.1 | [Notes to Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) These notes detail accounting policies, acquisitions, segment performance, revenue recognition, debt, and significant subsequent events - In 2023, the company acquired ChartWorld for **$53.5 million** and Xena Networks for **$24.2 million**[25](index=25&type=chunk)[26](index=26&type=chunk) - As of March 31, 2024, remaining performance obligations were **$3.29 billion**, with **78%** expected to be recognized as revenue within the next twelve months[39](index=39&type=chunk) - Subsequent to Q1 2024, the company acquired Valeport, announced an agreement to acquire Adimec, paid off **$450 million** in senior notes, and authorized a new **$1.25 billion** stock repurchase program[72](index=72&type=chunk)[73](index=73&type=chunk)[74](index=74&type=chunk) [Management's Discussion and Analysis](index=18&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2024 financial performance, highlighting sales decline from industrial weakness, mixed segment results, and strong operating cash flow - The company's strategy focuses on growth in its four segments through targeted acquisitions, product development, and operational excellence[77](index=77&type=chunk) - Management now forecasts a meaningful full-year sales decline in industrial automation and test & measurement markets, a worsening outlook from previous assumptions[79](index=79&type=chunk) - In April 2024, the Board authorized a new stock repurchase program of up to **$1.25 billion**, superseding prior programs[122](index=122&type=chunk)[74](index=74&type=chunk) [Results of Operations](index=19&type=section&id=Results%20of%20Operations) Net sales decreased 2.4% to $1.35 billion in Q1 2024, with operating income also declining, while interest expense significantly decreased Q1 2024 vs Q1 2023 Operating Results | Metric (in millions) | Q1 2024 | Q1 2023 | % Change | | :--- | :--- | :--- | :--- | | **Net Sales** | $1,350.1 | $1,383.3 | (2.4)% | | **Operating Income** | $234.3 | $242.5 | (3.4)% | | **Interest and debt expense, net** | $(12.7) | $(21.0) | (39.5)% | [Segment Results](index=21&type=section&id=Segment%20Results) Q1 2024 segment performance was mixed, with Aerospace and Defense Electronics showing strong growth, while Digital Imaging and Engineered Systems declined Q1 2024 Segment Sales and Operating Income (vs Q1 2023) | Segment | Net Sales (in millions) | Sales % Change | Operating Income (in millions) | Op. Income % Change | | :--- | :--- | :--- | :--- | :--- | | **Digital Imaging** | $740.8 | (4.1)% | $113.8 | (6.9)% | | **Instrumentation** | $330.4 | (0.9)% | $86.0 | 6.6% | | **Aerospace and Defense Electronics** | $185.7 | 7.2% | $51.9 | 10.4% | | **Engineered Systems** | $93.2 | (10.5)% | $2.7 | (73.0)% | - Instrumentation's operating income grew despite lower sales, driven by a **$19.6 million** increase in marine instrumentation sales and improved margins[105](index=105&type=chunk)[107](index=107&type=chunk) - Engineered Systems' operating income decline was primarily due to program mix and unfavorable estimate changes on electronic manufacturing services contracts[115](index=115&type=chunk) [Financial Condition, Liquidity and Capital Resources](index=23&type=section&id=Financial%20Condition,%20Liquidity%20and%20Capital%20Resources) The company maintained strong liquidity with cash increasing to $912.4 million, total debt at $3.25 billion, and a new $1.25 billion stock repurchase program - Cash and cash equivalents increased by **$264.1 million** during the quarter to a total of **$912.4 million**[118](index=118&type=chunk)[19](index=19&type=chunk) - Total debt was **$3.25 billion** at March 31, 2024, and a **$450 million** debt maturity payment was made in April 2024[119](index=119&type=chunk) - A new stock repurchase program for up to **$1.25 billion** was authorized by the Board of Directors in April 2024[122](index=122&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=25&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) There were no material changes to the market risk disclosures from the 2023 Annual Report on Form 10-K - There were no material changes to the information regarding market risk from the 2023 Form 10-K[135](index=135&type=chunk) [Controls and Procedures](index=25&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2024, with no material changes to internal controls - The company's disclosure controls and procedures were concluded to be effective as of March 31, 2024[137](index=137&type=chunk) - No changes in internal controls over financial reporting that have materially affected, or are reasonably likely to materially affect, internal controls were made during the quarter[137](index=137&type=chunk) Part II This section covers legal proceedings, risk factors, other information, and a list of exhibits filed with the report [Legal Proceedings](index=26&type=section&id=Item%201.%20Legal%20Proceedings) This section details commitments and contingencies, including voluntary disclosures regarding potential export violations and environmental remediation obligations - The company has made voluntary disclosures to the U.S. Department of State and Commerce regarding potential export violations by Teledyne FLIR, with the potential loss or penalty not reasonably estimable at this time[69](index=69&type=chunk)[138](index=138&type=chunk) [Risk Factors](index=26&type=section&id=Item%201A.%20Risk%20Factors) There were no material changes to the risk factors previously disclosed in the 2023 Annual Report on Form 10-K - There are no material changes to the risk factors previously disclosed in the 2023 Form 10-K[138](index=138&type=chunk) [Other Information](index=26&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted or terminated Rule 10b5-1 trading arrangements during the first fiscal quarter of 2024 - No directors or officers adopted or terminated a Rule 10b5-1 trading arrangement during the fiscal quarter ended March 31, 2024[139](index=139&type=chunk) [Exhibits](index=27&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including CEO and CFO certifications and XBRL data files - The exhibits filed with this report include Sarbanes-Oxley certifications by the CEO and CFO, and XBRL data files[141](index=141&type=chunk)[147](index=147&type=chunk)