Teledyne Earnings Reports

Teledyne delivered a solid first quarter with record highs in sales, non-GAAP operating margin, and adjusted EPS, driven by organic growth and recent acquisitions, despite a challenging macroeconomic environment.

Teledyne Technologies reported a 5.4% increase in fourth-quarter sales, reaching a record $1,502.3 million. GAAP diluted earnings per share were $4.20, while non-GAAP diluted earnings per share reached a record $5.52. The company's performance was driven by growth in shorter-cycle businesses and strong demand in defense, space, and energy sectors.

Teledyne Technologies reported all-time record quarterly sales of $1,443.5 million, a 2.9% increase compared to the previous year. GAAP diluted earnings per share reached a record $5.54, with non-GAAP diluted earnings per share at $5.10. The company is raising its full-year 2024 GAAP diluted earnings per share outlook and narrowing its non-GAAP earnings per share outlook.

Teledyne Technologies reported second quarter 2024 net sales of $1,374.1 million, a decrease of 3.6% compared to the second quarter of 2023. GAAP diluted earnings per share were $3.77, while non-GAAP diluted earnings per share were $4.58. The company achieved an all-time record free cash flow of $301.0 million and deployed approximately $852 million on debt repayment, acquisitions, and stock repurchases through July.

Teledyne Technologies reported a decrease in net sales by 2.4% to $1,350.1 million, with net income attributable to Teledyne decreasing slightly by 0.1% to $178.5 million ($3.72 diluted earnings per share). Despite the sales decline, the company achieved record first quarter non-GAAP operating margin of 21.2% and non-GAAP diluted earnings per share of $4.55. The company is revising its full year 2024 GAAP diluted earnings per share outlook to $16.02 to $16.27 and non-GAAP earnings per share outlook to $19.25 to $19.45.