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Sensata Technologies Holding plc (NYSE: ST) is a global leader specializing in sensing, electrical protection, control, and power management solutions. The company designs and manufactures devices that address the increasing global demands for safety, energy efficiency, and environmental cleanliness across various markets including automotive, appliance, aircraft, industrial, military, heavy vehicle, heating, air-conditioning, ventilation, data, telecommunications, recreational vehicle, and marine sectors.
Sensata Technologies operates a rapidly expanding business valued at $2.4 billion with operational and business centers in 16 countries. The company boasts a workforce of over 17,000 employees worldwide, including 900 individuals in engineering, business development, and corporate support roles at its U.S. headquarters in Attleboro, MA.
With a strong emphasis on local decision-making and innovation, Sensata develops complex products that make a tangible impact. The company has built a solid reputation for integrity and provides global exposure to world-class talent. Sensata's portfolio includes a wide array of sensors such as pressure, temperature, force, and position sensors, predominantly serving the automotive industry. The majority of its revenue stems from automotive applications, focusing on bumper-in technologies.
Recent achievements include partnerships with key industry players, the launch of cutting-edge sensor technologies, and significant growth in emerging markets. Sensata remains committed to delivering high-quality, reliable solutions that contribute to making the world safer and more energy-efficient.
Sensata Technologies (NYSE: ST) reported strong financial results for Q3 2021, with revenue of $951 million, up 20.6% year-over-year. Operating income increased by 27.2% to $161.3 million, while adjusted operating income grew by 29.8% to $201 million. Earnings per share rose by 8.2% to $0.53, with adjusted EPS at $0.87, reflecting a 31.8% increase. The company expects Q4 revenue between $895-925 million and adjusted EPS of $0.76-0.82, amid ongoing supply chain challenges. Sensata continues to pursue acquisitions to drive long-term growth.
Sensata Technologies (NYSE: ST) has announced the acquisition of SmartWitness Holdings, a leader in video telematics for commercial fleets. This strategic purchase aims to enhance Sensata's Insight portfolio with advanced data capture capabilities, particularly through video technology. Since its inception in 2007, SmartWitness has shipped over 250,000 connected devices, leveraging AI and machine learning for safety improvements in fleet operations. The acquisition is expected to close in Q4 2021, pending regulatory approval, and will bolster Sensata's recurring revenue streams in a fast-evolving market.
Sensata Technologies (NYSE: ST) announces its selection for a major aircraft manufacturer’s light jet, featuring its new autothrottle assembly. This innovative solution reduces pilot workload and enhances flight safety by enabling automatic control of engine power. The assembly will be showcased at the NBAA Business Aviation Convention & Exhibition from October 12-14 in Las Vegas. Key features include seamless integration with avionics, precision sensors, and a maintenance-free design, aimed at offering luxurious cockpit experiences.
Sensata Technologies (NYSE:ST) announces the launch of its new Industrial Wireless Systems, which enhance IoT connectivity for equipment. This product line is designed for automation engineers and plant managers, providing cost-effective solutions for continuous asset monitoring. The wireless systems feature easy setup, out-of-the-box configurations, and a proprietary protocol allowing reliable data delivery up to 500m. These advancements are aimed at increasing productivity and reliability in industrial applications, facilitating simpler connections to smart factory solutions.
Sensata Technologies (NYSE: ST) will release its third quarter 2021 financial results on Tuesday, October 26, 2021, at 6:00 a.m. Eastern Time. A live conference call will follow at 8:00 a.m. Eastern Time to discuss these results and business trends. Investors can join via telephone or through a webcast on the company's investor relations page. A replay of the call will be available until November 2, 2021. Sensata is a leader in industrial technology, providing sensor solutions across various industries for over 100 years.
Sensata Technologies (NYSE: ST) will unveil its new i-BMS Battery Management System for electrified applications at the Battery Show North America in Novi, Michigan, from September 14-16. The i-BMS, developed by Lithium Balance, is designed for 2- and 3-wheelers, automated guided vehicles, and robotics, featuring advanced safety and performance capabilities. Sensata will also showcase various sensing and control solutions aimed at enhancing the safety and efficiency of energy systems. This event marks a significant step in Sensata's electrification strategy.
Sensata Technologies (NYSE: ST) has announced its acquisition of Spear Power Systems, a leader in lithium-ion energy storage solutions, enhancing its electrification portfolio. Founded in 2013, Spear specializes in scalable battery systems for demanding applications, offering a cell-agnostic approach with high energy density and reliability. The acquisition is anticipated to create significant growth opportunities in clean energy markets. The transaction is subject to regulatory approval and is expected to close in Q4 2021.
Sensata Technologies (NYSE: ST) announces the launch of its combined business, Sensata | Xirgo, at three major tradeshows in September. The showcases will feature innovative IoT solutions aimed at enhancing operational efficiency in various sectors, including vehicle telematics and asset monitoring. Sensata | Xirgo will exhibit at Home Delivery World in Philadelphia from September 1-2, TMC21 in Cleveland from September 12-16, and The Utility Expo in Louisville from September 28-30. This initiative aims to strengthen customer relationships and drive value creation.
Sensata Technologies (NYSE: ST) reported record revenue of $992.7 million for Q2 2021, marking a 72.2% increase from $576.5 million in Q2 2020. Adjusted EPS rose to $0.95, a 427.8% increase from $0.18. Operating income was $164.8 million, up from an operating loss of $(1.9) million a year ago. For FY 2021, the company updated its revenue guidance to $3.770 - $3.840 billion. Q3 2021 is projected to generate revenue between $920 - $950 million, and adjusted EPS of $0.82 - $0.88. This growth comes amidst challenges in the automotive sector due to semiconductor shortages.
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