TE Connectivity (NYSE: TEL) reported Q1 EPS of $1.29, $0.01 better than the analyst estimate of $1.28. Revenue for the quarter came in at $3.35 billion versus the consensus estimate of $3.39 billion.

• Net sales were $3.35 billion, flat as reported, and up 2 percent organically from the first quarter of 2018
• Diluted earnings per share (EPS) from continuing operations were $1.11, and adjusted EPS were $1.29
• Cash flow from continuing operating activities was $328 million and free cash flow was $69 million, with $645 million returned to shareholders, including proceeds from the sale of the company\'s Subsea Communications business
• Orders were $3.3 billion in the quarter, down 6% year-over-year and 4% lower than the prior quarter

"First quarter results were in line with our guidance and demonstrated resiliency in what turned out to be a slower demand environment than we expected, due primarily to weakness in China markets. Our Industrial and Communications segments showed solid sales growth, while our Transportation segment outperformed a weak global auto production environment through strong content growth," said Terrence Curtin, Chief Executive Officer of TE Connectivity. "Due to a slower market environment, we are updating our guidancefor the remainder of the fiscal year, accelerating several levers in our business model to sustain resilience, and investing for long-term growth in alignment with our strategy."

GUIDANCE:

TE Connectivity sees FY2019 EPS of $5.35-$5.55, versus the consensus of $5.68. TE Connectivity sees FY2019 revenue of $13.45-13.85 billion, versus the consensus of $14.12 billion.

For earnings history and earnings-related data on TE Connectivity (TEL) click here.