TE Connectivity announces first quarter results for fiscal year 2020
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TE Connectivity (TEL) Tops Q1 EPS by 7c; Provides FY20 EPS/Revenue Guidance
January 29, 2020 6:09 AM ESTTE Connectivity (NYSE: TEL) reported Q1 EPS of $1.21, $0.07 better than the analyst estimate of $1.14. Revenue for the quarter came in at $3.2 billion versus the consensus estimate of $3.12 billion.
First Quarter Highlights
Net sales were $3.2 billion, down 5% on a reported and organic basis over the first quarter of 2019.Diluted earnings per share (EPS) from continuing operations were $0.07, below the company's GAAP guidance due to a non-cash charge from Swiss tax reform. Adjusted EPS were $1.21, exceeding the high end of the company's guidance.Cash flow from continuing operating activities was $411 million and free... More