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TE Connectivity beats Q3 estimates, raises FY guidance

Published 07/26/2017, 09:01 AM
© Reuters.  TE Connectivity beats Q3 estimates, raises FY guidance
TEL
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  • TE Connectivity (NYSE:TEL) reports Q3 results with revenue and EPS beats.
  • Segment net sales: Transportation Solutions: $1.77B (+7% Y/Y); Industrial Solutions: $905M (+7%); and Communications Solutions: $697M (+12%).
  • Cash flow from operations was $524M and FCF was $408M.
  • Company completed the acquisition of medical applications company MicroGroup in the quarter and announced an acquisition agreement for Hirschmann Car Communication.
  • Q4 guidance includes net sales between $3.2B to $3.3B and adjusted EPS of $1.14 to $1.16, which match consensus at the lower end of each range.
  • FY17 guidance raised to put net sales between $12.85B and $12.95B with adjusted EPS from $4.72 to $4.74. Consensus has revenue at $12.78B and EPS at $4.65.
  • Press release
  • Previously: TE Connectivity beats by $0.07, beats on revenue (July 26)
  • Now read: Fitbit In A Fight For Its Life


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