Teledyne Technologies Incorporated (NYSE:TDY) Q1 2024 Earnings Call Transcript April 24, 2024 11:00 AM ET Hi. Thank you, and good morning, everyone. This is Jason VanWees, Vice Chairman. I'd like to welcome everyone to Teledyne's First Quarter 2024 Earnings Release Conference Call. We released our earnings earlier this morning before the market opened. However, before we get started, the attorneys have reminded me to tell you that all forward-looking statements made this morning are subject to various assum ...

Exhibit 99.1 1049 Camino Dos Rios Thousand Oaks, CA 91360-2362 NEWSRELEASE TELEDYNE TECHNOLOGIES REPORTS FIRST QUARTER RESULTS THOUSAND OAKS, Calif. – April 24, 2024 – Teledyne Technologies Incorporated (NYSE:TDY) • Orders of $1,433.2 million, an increase of 7.8% compared with last year • Sales of $1,350.1 million • First quarter GAAP operating margin of 17.4% and record first quarter non-GAAP operating margin of 21.2% • GAAP diluted earnings per share of $3.72 and record first quarter non-GAAP diluted earn ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ 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 SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-15295 TELEDYNE TECHNOLOGIES INCORPORATED (Exact name of registrant as specified in its charter) Delaware 25-1843385 ( ...

Financial Data and Key Metrics - Q4 2023 operating cash flow was $164.4 million, down from $237.7 million in 2022, while free cash flow was $124.2 million, down from $203.6 million in 2022 [5] - Depreciation and amortization expense was $77.4 million in Q4 2023, compared to $81.8 million in 2022 [122] - Net debt at the end of Q4 2023 was approximately $2.60 billion, with total debt of $3.24 billion and cash of $48.3 million [122] - Full-year 2024 GAAP EPS guidance is $17.15 to $17.53, and non-GAAP EPS is $20.35 to $20.68, with an estimated tax rate of 22.5% [12] Business Segment Performance - Digital Imaging segment (56% of revenue) saw Q4 healthcare revenue increase 13.5%-14%, aerospace and defense revenue increase 5%, offset by weakness in industrial and scientific vision systems [7] - FLIR business saw Q4 revenue increase 4.8%, with surveillance systems growing 16.5% and detection products also showing robust growth [14] - Instrumentation segment (23% of revenue) saw Q4 sales increase 2.8%, with marine instruments up 14.7%, while environmental instruments decreased 7.3% [36][46] - Aerospace and Defense Electronics segment (13% of revenue) saw Q4 sales increase 3.4%, driven by commercial aerospace products [60] - Engineered Systems segment (8% of revenue) saw Q4 revenue decrease 3.8%, but operating profit increased with margins up 325 basis points [61] Market Performance - Marine business saw strong growth in offshore energy, global defense, and ocean science markets [46] - Industrial automation and laboratory instrumentation markets faced headwinds, with declines in industrial imaging systems and MEMS [44] - Defense business saw strong order intake, particularly in modernization and stockpile replacement programs [94] Strategic Direction and Industry Competition - The company is focusing on cost structure optimization and margin improvement, with expected segment margin expansion of 50-100 basis points in 2024 [70] - The company is consolidating leased spaces into owned spaces, which is expected to save $500,000-$700,000 annually [10] - The company is pursuing smaller bolt-on acquisitions, as larger deals remain expensive [21][112] Management Commentary on Operating Environment and Future Outlook - Management expects a linear ramp in sales and earnings throughout 2024, with average revenue growth of 4% and margin improvement of 50-60 basis points [32] - Short-cycle businesses are expected to recover in the second half of 2024, with industrial automation and laboratory instrumentation markets showing signs of improvement [20][95] - The company is cautious about macroeconomic shocks but remains confident in its ability to generate record cash flow and execute acquisitions [65] Other Important Information - The company paid down $680 million of debt in 2023, reducing its net debt-to-EBITDA ratio to 1.9, with further reduction expected in 2024 [87] - The company expects to make additional tax payments in 2024, which impacted Q4 2023 cash flow [121] Q&A Summary Question: Can you provide more details on the growth assumptions for 2024? - The company expects 4% organic revenue growth, with instrumentation growing 3.5%, digital imaging above 4%, aerospace and defense 5%, and engineered systems 4% [13][82] Question: What is driving the margin improvement in 2024? - Margin improvement is driven by cost structure optimization, price increases, and growth in longer-cycle businesses [25][67] Question: How is the pricing environment evolving? - The company expects 2%-3% price increases in 2024, similar to 2023, with higher increases in non-government contracts [101][116] Question: What is the outlook for defense awards? - The company has a strong pipeline of defense programs, including new products like the Black Hornet 4 and space-based systems [40][123] Question: Are there plans for stock buybacks or splits? - The company prefers acquisitions over stock buybacks and has no current plans for a stock split [99][118]

Teledyne e2v 宣佈推出下一代低照度 CMOS 感測器 新型 OnyxMax 可以在惡劣條件下檢測小物體 法國格勒諾布爾, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Teledyne e2v 是 Teledyne Technologies 旗下公司和全球成像解決方案的創新者，宣佈推出廣受歡迎的下一代 OnyxMax™ Onyx 1.3M 低照度 CMOS 圖像感測器。這款新感測器專為極低照度條件（低至 1 mLux）而設計。靈敏度和圖像解析度的結合增加了其偵測範圍，甚至可以在惡劣條件下偵測到小物體。這使 OnyxMax 成為廣泛應用的理想選擇，包括科學、國防、交通攝像頭、廣播、監控、邊境管制和天文學。 OnyxMax 具有 130 萬像素(1,280 x 1,024)，有單色或標準顏色可供選擇，可根據要求提供特定的 CFA 排列。它擁有 10 x 10 μm 的像素，採用 Teledyne 的全新尖端 HiRho™ 專有技術設計，可實現出色的近紅外 (NIR) 靈敏度和空間解析度，在 850nm 波長處的量子效率 (QE) 為 58%，MTF 為 63%。Onyx ...

Teledyne DALSA AxCIS Contact Image Sensor 新的AxCIS是一款用於空間受限系統的高速、高解析度線掃描解決方案 安大略省滑鐵盧, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Teledyne DALSA很高興地宣佈新系列高速和高解析度全整合式線掃描成像模組AxCIS™現已投產。這些易於使用的接觸式圖像傳感器 (CIS) 整合傳感器、光學鏡頭和光源於一體，為許多要求苛刻的機器視覺應用提供更低成本的檢測系統。 AxCIS使用Teledyne的多線性CMOS圖像傳感器，提供單色最高120 kHz線速率或60 kHz x 2 HDR成像，像素大小為28 µm或900 dpi解析度，檢測瑕疵可達到前所未有的精度。 其獨特的感應器設計可覆蓋整個視域，不會丟失像素，可提供沒有任何插值的100%無縫圖像。HDR成像是通過獨立曝光控制的雙行圖像傳感器來實現，改善的動態範圍針對高反射性材料實現更出色的檢測能力，非常適合用於計量等應用。 AxCIS的設計適合多種範圍的視域。憑藉小巧的尺寸和防塵設計，AxCIS可安裝於系統內幾乎任何位置，甚至是有限的垂直間隙。它 ...

Teledyne e2v's Emerald Gen2 Emerald Gen2 非常適合需要以極高速度提供清晰影像的應用 法國格勒諾布爾, Nov. 21, 2023 (GLOBE NEWSWIRE) -- Teledyne e2v，Teledyne Technologies [NYSE: TDY] 公司和全球成像解決方案創新者宣佈 Emerald™ Gen2，其新的最先進的 CMOS 圖像感測器系列。該新系列基於 Teledyne e2v 的先進成像技術，可提供增強的性能，使新感測器成為各種機器視覺用途、室外監控以及交通檢測和監控攝像機的理想選擇。 Emerald Gen2 提供 8.9 百萬像素 (4,096 x 2,160) 或 12 百萬像素 (4,096 x 3,072)、單色或彩色以及標準和不同速度等級。高速型號為需要以極高速度提供清晰圖像的苛刻應用提供卓越的性能，例如食品分類、檢測和智慧交通系統。 此感測器擁有 2.8µm 的小型全域快門像素，採用 Teledyne e2v 的最新一代導光管照明技術設計而成，可在 10 位元和 12 位元 ADC 模式提供最高 67 dB 的動態範圍。 ...

OR Table of Contents ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________ FORM 10-Q _____________________________________ For the transition period from to Commission File Number: 1-15295 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 1, 2023 (I.R.S. Employer Identification No.) (Z ...

| --- | |------------------------------------------------| | | | Company Participants | | Jason VanWees - Vice Chairman | | Robert Mehrabian - Chairman, President and CEO | | Sue Main - SVP and CFO | | Conference Call Participants | | Jim Ricchiuti - Needham & Company | | Joe Giordano - TD Cowen | | Greg Konrad - Jefferies | | Andrew Buscaglia - BNP | | Rob Jamieson - UBS | | Kristine Liwag - Morgan Stanley | | Noah Poponak - Goldman Sachs | | | Ladies and gentlemen, thank you for standing by. Welcome to Te ...

(e) Other includes commercial or foreign government sales of electronics for microwave and satellite communications, industrial interconnect systems, electronic components and other product lines 33% 37% 17% 4% 6% Aerospace Engines Aerospace Castings 34% 32% 19% 7% 7% Instrumentation Digital Imaging Aerospace & Defense Electronics Engineered Systems Divested Operations Aerospace Engines $657 Million $1.64 Billion ~$5.47 Billion Printed Circuits 3% Printed Circuits 1% 12% 23% 7% 58% History of Focused, Succe ...