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Dec 29, 2024
Teledyne Q4 2024 Earnings Report
Teledyne reported record quarterly sales and non-GAAP earnings per share, driven by growth in shorter-cycle businesses and strong demand in defense, space, and energy sectors.
Key Takeaways
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.
Record quarterly sales of $1,502.3 million, a 5.4% increase year-over-year.
GAAP diluted earnings per share of $4.20 and record non-GAAP diluted earnings per share of $5.52.
GAAP operating margin of 15.8% and non-GAAP operating margin of 22.7%.
Completed acquisition of Micropac Industries, Inc. on December 30, 2024, and announced pending acquisition of select aerospace and defense electronics businesses from Excelitas Technologies Corp.
Teledyne
Teledyne
Teledyne Revenue by Segment
Revenue by Segment
Digital Imaging Revenue
CapyFin.comInstrumentation Revenue
CapyFin.comAerospace & Defense Revenue
CapyFin.comEngineered Systems Revenue
CapyFin.com Forward Guidance
Teledyne anticipates first quarter 2025 GAAP diluted earnings per share to be in the range of $3.90 to $4.04, and full year 2025 GAAP diluted earnings per share to be in the range of $17.70 to $18.20. First quarter 2025 non-GAAP diluted earnings per share are expected to be between $4.80 and $4.90, while full year 2025 non-GAAP diluted earnings per share are projected to be between $21.10 and $21.50. The outlook includes Micropac but excludes Excelitas.
Positive Outlook
- First quarter 2025 GAAP diluted earnings per share outlook: $3.90 to $4.04
- Full year 2025 GAAP diluted earnings per share outlook: $17.70 to $18.20
- First quarter 2025 non-GAAP diluted earnings per share outlook: $4.80 to $4.90
- Full year 2025 non-GAAP diluted earnings per share outlook: $21.10 to $21.50
- Outlook includes Micropac.
Challenges Ahead
- Outlook excludes Excelitas.
- Strong U.S. dollar.
- Unpredictable geopolitical environment.
- Acquired intangible asset amortization.
- Acquisition and integration costs.