Teledyne's Q1 Earnings & Revenues Beat Estimates, Increase Y/Y

Core Viewpoint - Teledyne Technologies Inc. reported strong first-quarter 2025 results, with adjusted earnings per share of $4.95, exceeding estimates and showing year-over-year growth of 8.8% [1][2]. Financial Performance - Adjusted earnings per share of $4.95 surpassed the Zacks Consensus Estimate of $4.92 by 0.6% and improved from $4.55 in the prior year [1] - GAAP earnings were $3.99 per share, up 7.3% from $3.72 in the previous year [1] Operational Highlights - Total sales reached $1.45 billion, beating the Zacks Consensus Estimate of $1.42 billion by 1.9% and increasing 7.4% from $1.35 billion in the year-ago quarter [3] - The sales growth was driven by higher year-over-year sales across all business segments [3] Segmental Performance - Instrumentation: Sales increased 3.9% year over year to $343.3 million, supported by stronger marine instrumentation sales [4] - Digital Imaging: Quarterly sales rose 2.2% to $757 million, driven by higher sales of infrared imaging components and surveillance systems [5] - Aerospace and Defense Electronics: Sales surged 30.6% to $242.5 million, primarily due to increased defense electronics sales [5] - Engineered Systems: Revenues grew 14.9% to $107.1 million, with operating income increasing 300% to $10.8 million [6] Financial Condition - Cash and cash equivalents totaled $461.5 million as of March 30, 2025, down from $649.8 million at the end of 2024 [7] - Long-term debt increased to $2.96 billion from $2.65 billion [7] - Cash flow from operating activities was $242.6 million, down from $291 million [7] Capital Expenditure and Free Cash Flow - Capital expenditure for the first quarter was $18 million, up from $15.9 million in the prior year [8] - Free cash flow decreased to $224.6 million from $275.1 million in the previous year [8] Guidance - Teledyne expects adjusted earnings for Q2 2025 to be in the range of $4.95-$5.05 per share, while the consensus estimate is $5.20 [10] - For the full year 2025, adjusted earnings are expected to be between $21.10-$21.50 per share, with the consensus estimate at $21.46 [10]