TE Connectivity(US:TEL)2024-01-24 13:51Q1 2024 Financial Performance - Net sales were $3831 million, a slight decrease compared to $3841 million in Q1 2023 [20] - Adjusted EPS increased by 20% year-over-year to $184 [39] - Adjusted operating margin increased by 290 basis points year-over-year to 191% [39] - Free cash flow reached a record $570 million in Q1 [39] Segment Performance - Transportation Solutions net sales increased to $2373 million, up 5% organically [7, 48] - Industrial Solutions net sales decreased to $1025 million, down 5% organically [7, 62] - Communications Solutions net sales decreased to $433 million, down 17% organically [7, 89] Orders and Backlog - Total orders were $38 billion, up 4% year-over-year [29] - Transportation orders reflect stable global production and a strong backlog position [57] Q2 2024 Guidance - Expect sales of approximately $395 billion [29] - Expect adjusted EPS of approximately $182, up 10% year-over-year [56] Balance Sheet and Cash Flow - Ending cash balance was $1170 million [82] - Free cash flow was $570 million [100] - $600 million was returned to shareholders [73] - $350 million was used for the Schaffner acquisition [73]