Teledyne Q2 2024 Earnings Report
Key Takeaways
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.
Orders exceeded sales for the third consecutive quarter.
All-time record cash from operations of $318.7 million and free cash flow of $301.0 million.
Completed the acquisitions of Valeport and Adimec for aggregate consideration of $123.6 million.
Stock repurchases expected to continue under the current $1.25 billion authorization.
Teledyne
Teledyne
Teledyne Revenue by Segment
Forward Guidance
The company’s management believes that third quarter 2024 GAAP diluted earnings per share will be in the range of $4.02 to $4.16 and full year 2024 GAAP diluted earnings per share will be in the range of $15.87 to $16.13. The company’s management further believes that third quarter 2024 non-GAAP diluted earnings per share will be in the range of $4.90 to $5.00 and full year 2024 non-GAAP diluted earnings per share will be in the range of $19.25 to $19.45.
Revenue & Expenses
Visualization of income flow from segment revenue to net income