ST - Sensata Technologies stock hits 17-month low as Q2 outlook disappoints

Sensata Technologies (NYSE:ST) stock dropped to its lowest in more than a year after the industrial technology firm issued disappointing Q2 outlook, despite largely in-line Q1 results. ST expects Q2 adj. EPS of $0.79-0.87, well below consensus estimate of $0.97. Q2 revenue is projected to be $990M-1.03B, lower than consensus estimate of $1.05B. ST also provided the following outlook for Q2: The company reaffirmed its 2022 guidance. ST reported Q1 adj. EPS of $0.78 vs. $0.86 in Q1 2021. Revenue rose 3.5% to $975.8M. "ST delivered higher than targeted revenue in Q1 due to strong market outgrowth and acquired growth of 7.9% and 4.1% respectively, despite market headwinds of 5.8%. Lower volumes and increased investments in our Megatrend growth areas are weighing on margins, but these investments position Sensata for growth," said CEO Jeff Cote. Additionally, ST said it will acquire Dynapower for $580M, which is expected to generate $100M+ in annualized revenue with ~20% EBITDA

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Sensata Technologies stock hits 17-month low as Q2 outlook disappoints