Teledyne Technologies (NYSE: TDY) reported Q2 EPS of $2.48, $0.50 better than the analyst estimate of $1.98. Revenue for the quarter came in at $743.3 million versus the consensus estimate of $743.65 million.

GUIDANCE:

Teledyne Technologies sees FY2020 EPS of $9.45-$10.00, versus the consensus of $9.58.

Teledyne Technologies sees Q3 2020 EPS of $2.25-$2.45, versus the consensus of $2.53.

• Based on its current outlook, the company’s management believes that third quarter 2020 GAAP diluted earnings per share will be in the range of $2.25 to $2.45 and full year 2020 GAAP diluted earnings per share will be in the range of $9.45 to $10.00. The company’s annual expected tax rate for 2020 is 22.8%, before discrete tax items. In addition, we currently expect significantly less discrete tax items in 2020 compared with 2019. The estimates for third quarter and full year 2020 GAAP diluted earnings per share exclude any potential charge related to Airbus OneWeb Satellites, LLC, as a result of the March 27, 2020 bankruptcy of OneWeb Global Limited and its subsidiaries.

For earnings history and earnings-related data on Teledyne Technologies (TDY) click here.