TE Connectivity announces second quarter results for fiscal year 2020
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TE Connectivity (TEL) Tops Q2 EPS by 29c, Revenues Beat; Withdraws 3Q & FY20 Guidance
April 28, 2020 6:10 AM EDTTE Connectivity (NYSE: TEL) reported Q2 EPS of $1.29, $0.29 better than the analyst estimate of $1.00. Revenue for the quarter came in at $3.2 billion versus the consensus estimate of $2.94 billion.
Second Quarter Highlights
Net sales were $3.2 billion, in line with the company's guidance, down 6% on a reported and down 5% on an organic basis over the second quarter of 2019.Diluted earnings per share (EPS) from continuing operations were a loss of $1.35. Adjusting for one-time impairment charge, adjusted EPS were $1.29, exceeding the... More