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Mar 31, 2023
Sensata Q1 2023 Earnings Report
Sensata reported strong first-quarter results with revenues and adjusted earnings exceeding financial guidance, repaid $250 million of outstanding Term Loan, and remains on track to achieve its long-term goals within Electrification.
Key Takeaways
Sensata Technologies reported a 2.3% increase in revenue to $998.2 million and a significant rise in earnings per share to $0.56, a 300% increase compared to the previous year. The company also generated $96.9 million in operating cash flow and $60.0 million in free cash flow.
Revenue increased by 2.3% to $998.2 million, with organic revenue growth of 4.7%.
Operating income rose by 18.2% to $148.8 million, representing 14.9% of revenue.
Earnings per share increased by 300% to $0.56, and adjusted earnings per share increased by 17.9% to $0.92.
The company repaid $250 million of its outstanding Term Loan, reducing variable rate debt and interest expense.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the second quarter of 2023, Sensata expects revenue of $1,000 to $1,040 million and adjusted EPS of $0.88 to $0.98.
Positive Outlook
- Revenue between $1,000 and $1,040 million.
- Adjusted Operating Income between $190 and $206 million.
- Adjusted Net Income between $137 and $151 million.
- Adjusted EPS between $0.88 and $0.98.
- Company expects to grow earnings faster than revenue
Challenges Ahead
- Changes in foreign currency exchange rates will decrease revenue by approximately $(12) million at the midpoint.
- Changes in foreign currency exchange rates will decrease adjusted EPS by approximately $(0.01) at the midpoint.
- Revenue organic growth (2%) - 2%
- Adjusted Operating Income (2%) - 6%
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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