Teledyne lifts annual profit forecast, beats quarterly estimates

April 22 (Reuters) - Teledyne ‌Technologies on ​Wednesday ​raised its profit forecast for full-year 2026, as the sensing systems maker ‌continues to benefit from robust demand across its ⁠digital imaging, instrumentation, and aerospace and defense segments.

Teledyne ‌continues to benefit from elevated ‌demand for defense and surveillance equipment amid heightened geopolitical tensions, and the company noted ​further boost to its top-line from revenue added from recent acquisitions.

"Organic growth was strongest ⁠in our Digital Imaging segment, where infrared detectors and systems for ​space, airborne, marine and land applications, as well as complete unmanned aerial systems ​contributed significantly," said CEO Robert ‌Mehrabian.

"Furthermore, our industrial imaging and X-ray businesses each returned to year-over-year growth."

The ⁠company now expects full-year adjusted profit between $23.85 and $24.15 per share, compared with its prior range of $23.45 ⁠to $23.85.

The mid-point of the new forecast range is 18 cents ​ahead of analysts' estimate of $23.82, according to data compiled by LSEG.

On an adjusted basis, Teledyne earned $5.80 per share ‌in the quarter ended March 29, compared with estimates of $5.48 a share.

The ‌Thousand Oaks, California-based company posted a 7.6% ⁠year-on-year rise in quarterly ‌revenue to $1.56 billion, ​compared with estimates of $1.52 billion.

(Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Shailesh ‌Kuber)

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