Sensata Technologies Holding plc - ST STOCK NEWS

Sensata Technologies (NYSE: ST) reported a record revenue of $942.5 million for Q1 2021, an increase of 21.7% from $774.3 million in Q1 2020. Organic revenue growth was 18.8%. Operating income surged to $157.5 million (16.7% of revenue), up 168.7% year-over-year. Earnings per share reached $0.34, a significant increase of 580.0%. Sensata also generated $104.5 million in operating cash flow, above last year's $98.5 million. The company is adapting well despite supply chain challenges and continues to execute its growth strategy through acquisitions and joint ventures.

Sensata Technologies (NYSE: ST) will release its Q1 2021 financial results on April 27, 2021, at 6:00 a.m. Eastern Time. A conference call and webcast to discuss the results and business trends will follow at 8:00 a.m. ET on the same day. Investors can access the call via telephone at 1-844-784-1726 or 1-412-380-7411. A replay will be available until May 4, 2021. Sensata is a key player in the sensor and power management market, with operations in 13 countries, providing solutions that enhance safety and efficiency across various industries.

Sensata Technologies (NYSE: ST) has successfully completed its acquisition of Xirgo® Technologies for $400 million. This acquisition includes 100% of Xirgo's shares from private equity firm HKW and adds approximately 160 employees, including over 75 engineers. The deal is pivotal for advancing Sensata's Smart & Connected growth strategy, particularly in the transportation and logistics sectors, enhancing their data insight capabilities for fleet management. CEO Jeff Cote emphasized the potential for new growth opportunities for stakeholders.

Sensata Technologies (NYSE: ST) announced the pricing of an additional $250 million in 4.000% senior notes due 2029, priced at 100.75%. This offering, exempt from registration under the Securities Act, will close on April 8, 2021, pending customary conditions. The additional notes will consolidate with the previously issued $750 million of senior notes. Sensata intends to use the proceeds for general corporate purposes, including working capital and debt refinancing. The offering is aimed at qualified institutional buyers and will not be registered under the Securities Act.

Sensata Technologies (NYSE: ST) announced plans to offer an additional $150 million in 4.000% senior notes due 2029 through its subsidiary Sensata Technologies B.V. These notes will consolidate with existing notes issued on March 29, 2021. Proceeds will be used for general corporate purposes including working capital, acquisitions, and debt refinancing. The offering targets qualified institutional buyers and will not be registered under the Securities Act. Sensata is a leader in industrial technology, providing sensor solutions across various industries.

Sensata Technologies (NYSE: ST) announced pricing of $750 million in 4.0% senior notes due 2029, set to close on March 29, 2021. The notes, priced at par, will be guaranteed on a senior unsecured basis by the Issuer’s subsidiaries. The proceeds will support general corporate purposes, including working capital, acquisitions, refinancing debt, and share repurchases. The offering is made under exemptions from the Securities Act and targets qualified institutional buyers.

Sensata Technologies plans to offer $500 million in senior notes through its subsidiary, Sensata Technologies B.V., in a private offering exempt from registration under the Securities Act. The notes will be guaranteed by wholly owned subsidiaries and will rank equally with existing unsecured debts. Proceeds from the offering will be used for general corporate purposes, including working capital, acquisitions, and debt refinancing. The offering is targeted at qualified institutional buyers and non-U.S. persons, with a clear disclaimer that it does not constitute an offer to sell.

Sensata Technologies (NYSE: ST) has acquired Xirgo Technologies for $400 million, reflecting a valuation of approximately 16.0x 2021 EBITDA. Xirgo is expected to generate over $100 million in annual revenue in 2021, with projected growth exceeding 20% in subsequent years. This acquisition supports Sensata’s Smart & Connected initiative, significantly expanding its addressable market to $15 billion by 2030. The deal is anticipated to be accretive to Sensata's adjusted net income per share in 2021 and is expected to close in Q1 2021, subject to regulatory approval.

Sensata Technologies Holding plc (NYSE: ST) will have CEO Jeff Cote and CFO Paul Vasington present at several virtual investor conferences in February 2021. The schedule includes the Goldman Sachs Technology and Internet Conference on February 11 at 8:50 a.m. ET, the Barclays Industrial Select Investor Conference on February 16 at 12:50 p.m. ET, and the Wolfe Investor Conference on February 25 at 11:30 a.m. ET. Live webcasts of the Goldman Sachs and Barclays presentations will be available on Sensata's investor relations website, where replays will also be accessible.