Core Viewpoint - Analysts forecast that Teledyne Technologies (TDY) will report quarterly earnings of $5.23 per share, reflecting a year-over-year decline of 3.9%, with anticipated revenues of $1.45 billion, an increase of 1.6% compared to the previous year [1] Earnings Estimates - The consensus EPS estimate for the quarter has not changed over the past 30 days, indicating stability in analysts' projections [2] - Revisions to earnings projections are crucial for predicting investor behavior, as studies show a strong correlation between earnings estimate trends and short-term stock performance [3] Revenue Projections - Analysts estimate 'Net Sales- Instrumentation' at $351.23 million, a year-over-year increase of 4.8% [5] - 'Net Sales- Engineered Systems' is projected to reach $106.69 million, reflecting a 3.3% increase year-over-year [5] - 'Net Sales- Digital Imaging' is expected to be $797.97 million, indicating a slight decline of 0.6% year-over-year [5] - 'Net Sales- Aerospace and Defense Electronics' is estimated at $192.18 million, a 4.5% increase from the prior year [6] - 'Sales- Instrumentation - Environmental Instrumentation' is projected at $127.21 million, showing a significant increase of 13.7% year-over-year [7] Operating Income Estimates - 'Operating Income- Instrumentation' is expected to be $96.22 million, up from $90.70 million in the previous year [8] - 'Operating Income- Digital Imaging' is forecasted at $134.69 million, slightly above last year's $134.30 million [8] - 'Operating Income- Aerospace and Defense Electronics' is projected to decline to $55.25 million from $90.70 million year-over-year [8] - 'Non-GAAP Operating Income- Digital Imaging' is expected to be $180.01 million, down from $182.20 million in the same quarter last year [9] Stock Performance - Teledyne shares have increased by 1.5% over the past month, contrasting with a decline of 2.1% in the Zacks S&P 500 composite [9] - With a Zacks Rank 2 (Buy), TDY is anticipated to outperform the overall market in the near future [10]

Teledyne Technologies Incorporated (TDY) Contract and Technology - Teledyne FLIR Defense secured a five-year contract valued at $74 2 million to supply over 125 Electro-Optic Sensor System-Modernized (ESS-M) platforms to the US Coast Guard for rotary wing aircraft like the MH-60 and MH-65 [1] - The ESS-M systems feature a full-HD sensor suite advanced processing capabilities and updated user interfaces enabling high-definition imagery in various conditions and enhancing operational effectiveness for missions such as search and rescue law enforcement and coastal security [2] - Teledyne FLIR Defense has been collaborating with the USCG since 2005 and this new upgrade ensures the Coast Guard has the latest surveillance tools for improved coastal protection and operational efficiency [3] Growth Prospects for TDY and the C4ISR Market - Rising military conflicts terrorism and border disputes are driving global focus on national security particularly in strengthening C4ISR capabilities with increasing demand for advanced surveillance technologies like high-definition imaging systems thermal and infrared sensors AI-powered analytics and unmanned aerial systems [4] - The global C4ISR market is forecasted to grow at a compound annual growth rate of 3 2% during the 2025-2030 period according to Mordor Intelligence [5] - Teledyne with over 45 years of experience in imaging and sensing solutions is well-positioned to benefit from this growth given its expertise in advanced surveillance systems used across air land and sea [6] Prospects of TDY's Peers in the C4ISR Market - Lockheed Martin Corporation (LMT) provides advanced systems for surveillance reconnaissance and battle management with a long-term earnings growth rate of 4 4% and Zacks Consensus Estimate for 2025 sales indicating year-over-year growth of 4 1% [7][8] - RTX Corporation (RTX) focuses on integrated defense systems radar and missile warning systems with a long-term earnings growth rate of 10 3% and Zacks Consensus Estimate for 2025 sales indicating year-over-year growth of 5 4% [8][9] - Northrop Grumman Corporation (NOC) delivers end-to-end communications and advanced networking capabilities with a long-term earnings growth rate of 19% and Zacks Consensus Estimate for 2025 sales indicating year-over-year growth of 3 4% [10] TDY Stock Performance - TDY shares gained 2 3% in the past three months outperforming the industry's 2 2% growth [11] - TDY currently carries a Zacks Rank 2 (Buy) [12]

Z-Trak 3D Apps Studio , Nov. 27, 2024 (GLOBE NEWSWIRE) -- Teledyne DALSA3DZ-Trak™ 3D Apps StudioTeledyne DALSAZTrak3DZ-Trak 3D Apps Studio3D Z-Trak 3D Apps Studio TeledyneZ-Trak360°Z-Trak 3D Apps Studio3D3D2D Sherlock 8.30Z-Trak 3D Apps StudioZ-Trak 3DSherlock 8 TeledyneTeledyne DALSAe2v CMOSFLIR IISLumeneraPhotometricsPrinceton InstrumentsJudson TechnologiesActon OpticsAdimecTeledyne 30 Yuki Chan yuki.chan@teledyne.com : https://www.globenewswire.com/NewsRoom/AttachmentNg/5799ec0e-e23c-43ca-ac8f-7980811c6 ...

WATERLOO, Canada, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Teledyne DALSA is pleased to introduce Z-Trak™ 3D Apps Studio, a suite of software tools developed for in-line 3D machine vision applications. Designed to work with Teledyne DALSA’s Z-Trak family of laser profilers, it simplifies 3D dimensional measurement and inspection tasks on production lines. Capable of handling 3D scans of objects with varied surface types, sizes and geometric features, Z-Trak 3D Apps Studio is ideal for factory automation applicatio ...

Core Insights - Teledyne DALSA has launched the Z-Trak 3D Apps Studio, enhancing its 3D vision technology for industrial applications [1] Group 1: Product Launch - The Z-Trak 3D Apps Studio is designed for 3D measurement and inspection tasks, providing advanced capabilities for industrial automation [1] - This new studio integrates with the existing Z-Trak series, allowing for improved accuracy and efficiency in 3D inspections [1] Group 2: Technological Advancements - The Z-Trak 3D Apps Studio offers 360-degree inspection capabilities, enhancing the precision of 3D measurements [1] - The integration with Sherlock 8.30 software allows for seamless operation and advanced data analysis [1] Group 3: Market Position - Teledyne DALSA positions itself as a leader in the 3D vision solutions market, competing with other companies like FLIR, Lumenera, and Photometrics [1] - The company aims to provide comprehensive vision solutions tailored to various industrial needs, enhancing its competitive edge [1]

For the quarter ended September 2024, Teledyne Technologies (TDY) reported revenue of $1.44 billion, up 2.9% over the same period last year. EPS came in at $5.10, compared to $5.05 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.42 billion, representing a surprise of +1.33%. The company delivered an EPS surprise of +2.62%, with the consensus EPS estimate being $4.97.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wa ...

Teledyne Technologies Inc. (TDY) reported third-quarter 2024 adjusted earnings of $5.10 per share, which surpassed the Zacks Consensus Estimate of $4.97 by 2.6%. The bottom line also improved 1% from $5.05 recorded a year ago. The company recorded GAAP earnings of $5.54 per share, up 33.5% from the prior-year level of $4.15.The year-over-year improvement in the bottom line can be attributed to higher net sales and operating income in the third quarter than the year-ago reported actuals.Operational Highlight ...

Teledyne Technologies (TDY) came out with quarterly earnings of $5.10 per share, beating the Zacks Consensus Estimate of $4.97 per share. This compares to earnings of $5.05 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.62%. A quarter ago, it was expected that this defense and aerospace industry supplier would post earnings of $4.49 per share when it actually produced earnings of $4.58, delivering a surprise of 2%.Over the ...

[Third Quarter 2024 Financial Highlights](index=1&type=section&id=Third%20Quarter%20Results) The company reported strong Q3 2024 financial performance with increased net sales and diluted EPS, driven by robust demand, and raised its full-year earnings outlook - Orders exceeded sales for the fourth consecutive quarter, indicating **strong demand** and future revenue potential[1](index=1&type=chunk) - The company raised its full-year 2024 GAAP diluted EPS outlook to **$17.28-$17.42** and narrowed its non-GAAP EPS outlook to **$19.35-$19.45**[1](index=1&type=chunk) - Capital deployment included approximately **$354 million** in stock repurchases year-to-date through October 2024, with a consolidated leverage ratio of **1.7x** at quarter-end[1](index=1&type=chunk) Q3 2024 Key Financial Metrics (in millions, except percentages and EPS) | Metric | Q3 2024 | Q3 2023 | % Change | | :--- | :--- | :--- | :--- | | Net Sales | $1,443.5 | $1,402.5 | +2.9% | | GAAP Diluted EPS | $5.54 | $4.15 | +33.5% | | Non-GAAP Diluted EPS | $5.10 | $5.05 | +1.0% | | GAAP Operating Margin | 18.8% | 18.8% | 0.0% | | Non-GAAP Operating Margin | 22.5% | 22.8% | -0.3 p.p. | | Cash from Operations | $249.8 | $278.2 | -10.2% | | Free Cash Flow | $228.7 | $255.2 | -10.4% | [Review of Operations](index=2&type=section&id=Review%20of%20Operations) This section details the varied financial performance across the company's four operational segments, with most showing growth except Digital Imaging [Digital Imaging](index=2&type=section&id=Digital%20Imaging) Net sales decreased by **1.0%** to **$768.4 million**, and non-GAAP operating income fell by **7.4%** to **$173.6 million**, driven by lower industrial automation and X-ray product sales Digital Imaging Q3 Performance (YoY, in millions, except percentages) | Metric | Q3 2024 | Q3 2023 | % Change | | :--- | :--- | :--- | :--- | | Net Sales | $768.4 | $775.8 | -1.0% | | Operating Income | $123.9 | $136.3 | -9.1% | | Non-GAAP Operating Income | $173.6 | $187.5 | -7.4% | - The decrease in operating income was primarily due to **lower sales** and unfavorable product mix, particularly from lower sales of industrial automation imaging systems[3](index=3&type=chunk) [Instrumentation](index=2&type=section&id=Instrumentation) Net sales grew **6.3%** to **$349.8 million**, with operating income increasing **12.6%** to **$96.3 million**, primarily driven by strong marine instrumentation sales Instrumentation Q3 Performance (YoY, in millions, except percentages) | Metric | Q3 2024 | Q3 2023 | % Change | | :--- | :--- | :--- | :--- | | Net Sales | $349.8 | $329.1 | +6.3% | | Operating Income | $96.3 | $85.5 | +12.6% | - The increase in operating income was attributed to **higher sales**, favorable product mix, and improved margins in marine instrumentation[4](index=4&type=chunk) [Aerospace and Defense Electronics](index=2&type=section&id=Aerospace%20and%20Defense%20Electronics) Net sales increased by **9.2%** to **$200.2 million**, and operating income rose **14.0%** to **$56.3 million**, driven by higher sales in both defense and aerospace electronics Aerospace and Defense Electronics Q3 Performance (YoY, in millions, except percentages) | Metric | Q3 2024 | Q3 2023 | % Change | | :--- | :--- | :--- | :--- | | Net Sales | $200.2 | $183.3 | +9.2% | | Operating Income | $56.3 | $49.4 | +14.0% | - The increase in operating income primarily reflected the impact of **higher sales** and favorable product mix[5](index=5&type=chunk) [Engineered Systems](index=2&type=section&id=Engineered%20Systems) Net sales increased by **9.4%** to **$125.1 million**, with operating income up **18.3%** to **$12.9 million**, primarily driven by higher sales of engineered products Engineered Systems Q3 Performance (YoY, in millions, except percentages) | Metric | Q3 2024 | Q3 2023 | % Change | | :--- | :--- | :--- | :--- | | Net Sales | $125.1 | $114.3 | +9.4% | | Operating Income | $12.9 | $10.9 | +18.3% | [Additional Financial Information and Outlook](index=3&type=section&id=Additional%20Financial%20Information%20and%20Outlook) This section details the company's cash flow, capital allocation strategies, tax impacts, and updated financial outlook for the remainder of the year [Cash Flow and Capital Allocation](index=3&type=section&id=Cash%20Flow%20and%20Capital%20Allocation) The company generated **$249.8 million** in cash from operations and **$228.7 million** in free cash flow, while reducing net debt and repurchasing **$138.8 million** in stock Free Cash Flow (Q3 2024 vs Q3 2023, in millions) | Item | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | Cash provided by operating activities | $249.8 | $278.2 | | Capital expenditures | ($21.1) | ($23.0) | | **Free cash flow** | **$228.7** | **$255.2** | - The company repurchased approximately **0.3 million shares** for **$138.8 million** in Q3 2024, bringing year-to-date repurchases to **$332.6 million**[8](index=8&type=chunk) - Net debt decreased from **$2,596.6 million** at the end of 2023 to **$2,237.0 million** as of September 29, 2024[8](index=8&type=chunk) [Income Taxes and Other Items](index=3&type=section&id=Income%20Taxes%20and%20Other%20Items) The effective tax rate was **-2.8%** due to a **$62.3 million** tax benefit from a FLIR matter, while net interest expense decreased to **$15.7 million** due to lower debt - The effective tax rate was **-2.8%** in Q3 2024, compared with **19.2%** in Q3 2023, mainly due to a **$62.3 million** net discrete income tax benefit from a pre-acquisition FLIR tax matter[10](index=10&type=chunk) - Net interest expense decreased by **14.7%** YoY to **$15.7 million**, driven by reduced outstanding borrowings[11](index=11&type=chunk) [Financial Outlook](index=3&type=section&id=Outlook) Teledyne raised its full-year 2024 GAAP diluted EPS outlook to **$17.28-$17.42** and narrowed its non-GAAP EPS outlook to **$19.35-$19.45**, with Q4 projections also provided Q4 and Full Year 2024 Diluted EPS Outlook | Period | Metric | Low Estimate | High Estimate | | :--- | :--- | :--- | :--- | | **Q4 2024** | GAAP EPS | $4.27 | $4.41 | | | Non-GAAP EPS | $5.13 | $5.23 | | **Full Year 2024** | GAAP EPS | $17.28 | $17.42 | | | Non-GAAP EPS | $19.35 | $19.45 | [Financial Statements and Reconciliations](index=6&type=section&id=Financial%20Statements%20and%20Reconciliations) This section presents the company's condensed consolidated financial statements, including income statements, balance sheets, and reconciliations of GAAP to non-GAAP measures [Condensed Consolidated Statements of Income](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) For Q3 2024, Teledyne reported net sales of **$1,443.5 million** (+**2.9%** YoY) and net income of **$262.0 million** (+**31.9%**), with diluted EPS of **$5.54** Income Statement Summary (in millions, except per share) | Metric | Q3 2024 | Q3 2023 | Nine Months 2024 | Nine Months 2023 | | :--- | :--- | :--- | :--- | :--- | | Net Sales | $1,443.5 | $1,402.5 | $4,167.7 | $4,210.5 | | Operating Income | $270.7 | $264.3 | $752.0 | $762.9 | | Net Income (to Teledyne) | $262.0 | $198.6 | $620.7 | $562.6 | | Diluted EPS | $5.54 | $4.15 | $13.01 | $11.75 | [Summary of Segment Performance](index=7&type=section&id=Summary%20of%20Segment%20Net%20Sales%20and%20Operating%20Income) In Q3 2024, revenue growth was led by Engineered Systems, Aerospace and Defense Electronics, and Instrumentation, while Digital Imaging saw a slight decline Q3 2024 vs Q3 2023 Segment Performance (% Change) | Segment | Net Sales % Change | Operating Income % Change | | :--- | :--- | :--- | | Digital Imaging | (1.0)% | (9.1)% | | Instrumentation | 6.3% | 12.6% | | Aerospace and Defense Electronics | 9.2% | 14.0% | | Engineered Systems | 9.4% | 18.3% | | **Total** | **2.9%** | **2.4%** | [Condensed Consolidated Balance Sheets](index=8&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of September 29, 2024, total assets were **$14.53 billion**, with total liabilities decreasing to **$4.93 billion**, leading to increased stockholders' equity of **$9.59 billion** Balance Sheet Summary (in millions) | Item | Sep 29, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Total current assets | $2,990.2 | $2,981.4 | | Total assets | $14,530.9 | $14,527.9 | | Total current liabilities | $1,496.4 | $1,766.1 | | Total liabilities | $4,931.2 | $5,302.1 | | Total stockholders' equity | $9,594.2 | $9,221.2 | [Reconciliation of GAAP to Non-GAAP Measures](index=9&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Financial%20Measures) For Q3 2024, GAAP diluted EPS of **$5.54** was adjusted to non-GAAP EPS of **$5.10**, with similar adjustments for operating margin, primarily due to FLIR-related items Q3 2024 GAAP to Non-GAAP EPS Reconciliation | Item | Per Share Amount | | :--- | :--- | | **GAAP Diluted EPS** | **$5.54** | | FLIR integration costs | $0.06 | | Acquired intangible asset amortization | $0.80 | | FLIR acquisition-related tax matters | ($1.30) | | **Non-GAAP Diluted EPS** | **$5.10** | Q3 2024 GAAP to Non-GAAP Operating Margin Reconciliation (in millions, except percentages) | Item | Amount | Margin | | :--- | :--- | :--- | | **GAAP Operating Income** | **$270.7** | **18.8%** | | FLIR integration costs | $3.7 | | | Acquired intangible asset amortization | $49.8 | | | **Non-GAAP Operating Income** | **$324.2** | **22.5%** | [Explanation of Non-GAAP Financial Measures](index=12&type=section&id=Explanation%20of%20Non-GAAP%20Financial%20Measures) The company utilizes non-GAAP measures to offer a supplemental view of performance by excluding infrequent items, aiding investors in evaluating ongoing operating trends - Management believes non-GAAP measures provide a better understanding of short-term and long-term financial and operational trends by adjusting for items that have an **infrequent or non-recurring impact**[36](index=36&type=chunk) - Key adjustments to derive non-GAAP figures include acquired intangible asset amortization, FLIR integration costs, and FLIR acquisition-related tax matters[41](index=41&type=chunk) [Disclosures](index=4&type=section&id=Forward-Looking%20Statements%20Cautionary%20Notice) This section contains important cautionary notices regarding forward-looking statements and associated risks [Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) This report contains forward-looking statements subject to numerous risks, including supply chain issues, geopolitical conflicts, and economic tensions, which could impact actual results - The forward-looking statements are based on current management expectations and are not a **guarantee of future performance**[15](index=15&type=chunk) - Key risk factors include supply chain shortages, inflation, geopolitical conflicts, changes in defense spending, trade sanctions, cybersecurity threats, and risks related to integrating acquisitions[15](index=15&type=chunk)

Analysts on Wall Street project that Teledyne Technologies (TDY) will announce quarterly earnings of $4.97 per share in its forthcoming report, representing a decline of 1.6% year over year. Revenues are projected to reach $1.42 billion, increasing 1.6% from the same quarter last year.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Prior to a company's ...