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ST - Sensata Technologies: Poor Outlook With Weak Sentiment
Sensata Technologies Holding plc
2024-02-19 05:18:26 ET
Summary
Sensata Technologies reported Q4 2023 revenue of $992 million, beating expectations, but gross and EBIT margins underperformed.
The company continues to face challenges in the automotive end-market, with uncertain outlook due to a slowdown in electric vehicle adoption and challenges in industrial and heavy vehicle off-road markets.
Management revised margin guidance downwards, casting doubt on their ability to achieve margin targets for FY24. Hold rating recommended.