TE Connectivity (TEL) Tops Q3 EPS by 7c; Guides In-Line

TE Connectivity (NYSE: TEL) reported Q3 EPS of $1.24, $0.07 better than the analyst estimate of $1.17. Revenue for the quarter came in at $3.4 billion versus the consensus estimate of $3.27 billion.

GUIDANCE:

TE Connectivity sees Q4 2017 EPS of $1.14-$1.15, versus the consensus of $1.14. TE Connectivity sees Q4 2017 revenue of $3.2-3.3 billion, versus the consensus of $3.22 billion.

For the fiscal fourth quarter of 2017, the company expects net sales of $3.2 billion to $3.3 billion, reflecting an increase of 5 percent on an as reported basis and 4 percent organically, at the midpoint versus the fourth quarter of 2016, excluding the additional week in fiscal year 2016. GAAP EPS are expected to be $1.07 to $1.09, including net restructuring, acquisition-related and other charges of $0.07. TE expects adjusted EPS of $1.14 to $1.16, which includes a $0.09 favorable impact from growth and margin improvements year-over-year, offset by a $0.08 tax rate impact due to an unusually low tax rate in the prior year.

For the full year, the company expects net sales of $12.85 billion to $12.95 billion, reflecting 8 percent growth on an as reported basis and 7 percent organically at the mid-point versus the prior year, excluding the additional week in fiscal year 2016. GAAP EPS are expected to be $4.54 to $4.56, including net restructuring, acquisition-related and other charges of $0.34 and a tax-related benefit of $0.16. TE expects adjusted EPS of $4.72 to $4.74 reflecting 20 percent growth at the mid-point compared to 2016, when excluding the additional week.

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

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