TE CONNECTIVITY LTD.

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Delayed Nyse  -  05/27 03:47:11 pm EDT
128.94 USD   +3.28%
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TE Connectivity Posts Higher 1Q Sales, Profit

01/26/2022 | 06:36am EDT

By Will Feuer


TE Connectivity Ltd. logged higher profit and sales in its latest quarter, driven by growth in its industrials and communications segments.

The Swiss company, which makes connectivity and sensor equipment, on Wednesday posted a first-quarter profit of $566 million, or $1.72 a share, compared with $381 million, or $1.14 a share, a year earlier.

On an adjusted basis, the company's profit was $1.76 a share. Analysts surveyed by FactSet had been expecting $1.61 a share.

Revenue was $3.82 billion, up from $3.52 billion, the company said. Analysts had forecast $3.73 billion.

Orders grew by 7% year-over-year to about $4.3 billion, TE Connectivity said. Sales growth was driven by the company's industrial and communications segments, the company said.

Industrial sales rose to $1.06 billion from $873 million a year earlier, while communications sales rose to $601 million from $425 million in the year prior.

Transportation-segment sales were lower at $2.16 billion, compared with $2.22 billion a year earlier, though the company said it is still benefiting from demand for electric vehicles, which use TE Connectivity components for products such as charging inlets and power connectors

"We expect to deliver year over year sales and earnings growth in the second quarter as we continue to capitalize on a strong demand environment and our team's ability to continue to execute well despite ongoing volatility in global supply chains," TE Connectivity Chief Executive Terrence Curtin said.


Write to Will Feuer at Will.Feuer@wsj.com


(END) Dow Jones Newswires

01-26-22 0636ET

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Financials (USD)
Sales 2022 15 795 M - -
Net income 2022 2 244 M - -
Net Debt 2022 2 817 M - -
P/E ratio 2022 18,2x
Yield 2022 1,63%
Capitalization 40 301 M 40 301 M -
EV / Sales 2022 2,73x
EV / Sales 2023 2,51x
Nbr of Employees 89 000
Free-Float 94,9%
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Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 124,84 $
Average target price 152,00 $
Spread / Average Target 21,8%
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Managers and Directors
Terrence R. Curtin Executive VP & President-Industrial Solutions
Heath A. Mitts Chief Financial Officer, Director & Executive VP
Thomas J. Lynch Chairman
Joseph F. Eckroth Chief Information Officer & Senior Vice President
Phil Gilchrist Chief Technology Officer & Vice President
Sector and Competitors