TEL - TE Connectivity beats Q1 top and bottom line estimates; initiates Q3 outlook

April, 26 2023 06:03 AM TE Connectivity Ltd. New Switzerland Registered Shares

2023-04-26 06:03:58 ET

TE Connectivity press release ( NYSE: TEL ): Q2 Non-GAAP EPS of $1.65 beats by $0.07 .
Revenue of $4.16B (+4.0% Y/Y) beats by $250M .
Order levels were up sequentially to $4 billion.
Strong cash flow from operating activities of approximately $635 million and free cash flow of approximately $445 million, with approximately $375 million returned to shareholders.
Outlook: For the third quarter of fiscal 2023, the company expects net sales of approximately $4.0 billion vs. consensus of $4.06B. GAAP EPS from continuing operations are expected to be approximately $1.56, with adjusted EPS of approximately $1.65 vs. consensus of $1.72.

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Company Name:	TE Connectivity Ltd. New Switzerland Registered Shares
Stock Symbol:	TEL
Market:	NYSE