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Mar 31, 2020
Sensata Q1 2020 Earnings Report
Sensata's first quarter performance was impacted by unprecedented market upheaval due to the COVID-19 pandemic, resulting in decreased revenue and earnings per share compared to the previous year.
Key Takeaways
Sensata Technologies reported a decrease in revenue by 11.1% to $774.3 million, and a significant decrease in earnings per share to $0.05. The company's performance was affected by the COVID-19 pandemic, leading to market challenges.
Revenue decreased by 11.1% to $774.3 million compared to Q1 2019.
Operating income decreased by 58.9% to $58.6 million.
Earnings per share decreased by 90.4% to $0.05.
Share repurchase program was temporarily suspended to enhance financial flexibility.
Sensata
Sensata
Sensata Revenue by Segment
Revenue by Segment
Performance Sensing Revenue
CapyFin.comSensing Solutions Revenue
CapyFin.com Forward Guidance
Sensata withdrew its financial guidance for the first quarter and full year 2020 due to the heightened uncertainty related to the COVID-19 pandemic and expects revenue in the second quarter to be significantly lower than in the first quarter.
Positive Outlook
- Working closely with customers to serve their essential production needs.
- Taken decisive actions to control and reduce operating costs.
- Cutting discretionary spend and capital expenditures.
- Instituting global indirect pay cuts and furloughs.
- Drawing on revolver to enhance cash balances.
Challenges Ahead
- Heightened uncertainty related to the COVID-19 pandemic.
- Withdrew financial guidance for the first quarter and full year 2020.
- Economic conditions remain uncertain for the foreseeable future.
- Expect revenue in the second quarter to be significantly lower than in the first quarter.
- Scaling up production will depend on customers reopening operations while adhering to restrictions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income