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OFFON

TE CONNECTIVITY LTD.

(TEL)
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TE Connectivity Swings to 2Q Profit

04/21/2021 | 06:27am EDT

By Dave Sebastian

TE Connectivity Ltd. turned a profit for its fiscal second quarter as it said it benefited from a recovering economic backdrop, beating Wall Street estimates.

The Swiss company, which makes connectivity and sensor equipment, on Wednesday posted net income of $506 million, compared with a loss of $456 million in the year-earlier period. It reported earnings of $1.51 a share, compared with a loss of $1.37 a share in the same period last year.

Adjusted earnings were $1.57 a share. Analysts polled by FactSet were expecting $1.48 a share.

For the quarter ended March 26, net sales were $3.74 billion, up from $3.2 billion in the year-earlier period. Analysts were looking for $3.52 billion.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

04-21-21 0626ET

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 1.42% 34056.9 Delayed Quote.11.97%
TE CONNECTIVITY LTD. 1.41% 131.0245 Delayed Quote.6.67%
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Financials (USD)
Sales 2021 14 663 M - -
Net income 2021 1 905 M - -
Net Debt 2021 2 737 M - -
P/E ratio 2021 22,5x
Yield 2021 1,51%
Capitalization 42 645 M 42 645 M -
EV / Sales 2021 3,10x
EV / Sales 2022 2,91x
Nbr of Employees 82 000
Free-Float 97,2%
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Technical analysis trends TE CONNECTIVITY LTD.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 144,56 $
Last Close Price 129,14 $
Spread / Highest target 27,8%
Spread / Average Target 11,9%
Spread / Lowest Target -10,9%
EPS Revisions
Managers and Directors
NameTitle
Terrence R. Curtin Chief Executive Officer & Director
Heath A. Mitts Chief Financial Officer & Executive Vice President
Thomas J. Lynch Chairman
Joseph F. Eckroth Chief Information Officer & Senior Vice President
Phil Gilchrist Chief Technology Officer & Vice President