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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 Holding plc announced that CEO Jeff Cote will retire and be replaced by Martha Sullivan as interim CEO. Phillip Eyler joins the Board. The company forms a CEO search committee and enters cooperation agreements with Elliott. Martha Sullivan praised for her qualifications, and Phillip Eyler's appointment welcomed. Elliott expresses confidence in Sensata's future value creation. Sensata enters Cooperation and Information Sharing Agreements with Elliott. Sensata positions itself for a bright future in an electrified world.
Sensata Technologies reported solid financial results for the first quarter of 2024, with revenue reaching $1,006.7 million, an increase of 0.9% compared to the first quarter of 2023. The company's adjusted operating margins were at the high end of their guidance range. However, earnings per share decreased by 10.7% to $0.50. Sensata also provided guidance for the second quarter of 2024, expecting revenue of $1,025 to $1,055 million and adjusted EPS of $0.89 to $0.95.
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