Teledyne Technologies Incorporated - TDY STOCK NEWS

Teledyne Technologies (TDY) reported a record second quarter sales of $1.36 billion, a 20.9% increase year-over-year. Net income soared to $171.3 million ($3.59 EPS), a 164.8% rise from $64.7 million in Q2 2021. Notably, the FLIR acquisition contributed $167.6 million to sales. Despite strong performance, the company revised its full-year GAAP earnings outlook to $15.13-$15.45, down from $15.34-$15.66, reflecting currency headwinds and supply chain issues. The operating margin improved to 16.9%, with a record backlog of over $3 billion, and a stable leverage ratio of 2.5x.

Sidus Space, Inc. (NASDAQ:SIDU) reported its strongest revenue quarter in partnership with Teledyne Marine, following noteworthy growth in Q2 2022. The companies continue to collaborate since the signing of a two-year master supply agreement in July 2019. Sidus will now manufacture components for Teledyne’s facilities in Massachusetts, Texas, and Florida, expanding their relationship. CEO Carol Craig highlighted the increased trust and product quality that contributes to their success. Sidus Space specializes in Space-as-a-Service solutions and aims to provide scalable satellite services.

Teledyne Technologies (NYSE:TDY) has acquired a majority interest in Noiseless Acoustics Oy, based in Helsinki, Finland. The company specializes in acoustic imaging instruments and predictive maintenance solutions. The financial terms of the deal remain undisclosed. This acquisition aims to enhance Teledyne’s offerings in condition monitoring and safety solutions, leveraging NL Acoustics’ advanced imaging technology for applications in power distribution and factory monitoring. Founders Kai Saksela and Jonas Nyberg will maintain a minority stake and continue their leadership roles.

Teledyne Technologies (NYSE:TDY) will host a conference call to discuss its second quarter 2022 results on Wednesday, July 27, 2022, at 8:00 a.m. Pacific. The financial results will be released before the opening of the New York Stock Exchange on the same day. Interested parties can access the call at Teledyne's investor site approximately ten minutes prior. A replay will be available for one month from 9:00 a.m. Pacific on the same date.

Teledyne Marine announced significant achievements, including the production and shipment of its 10,000th Advanced Profiling Explorer (APEX) profiling float and 1,000th Slocum Glider. These devices enhance oceanographic research by collecting vital data over extended periods. Additionally, the company unveiled its new Autonomous Underwater Vehicle (AUV), the Gavia Osprey, designed for deep water and long missions. Celebrated at their Massachusetts facility, these milestones reflect Teledyne's commitment to innovation and ocean monitoring technology.

Teledyne FLIR Defense, part of Teledyne Technologies (NYSE:TDY), has secured new orders worth $62.1 million from the U.S. Armed Services for nearly 500 Centaur unmanned ground systems. This award raises the total value of the MTRS Inc. II contract to over $250 million. The Centaur systems are used by Explosive Ordnance Disposal teams for hazardous missions. Since 2020, Teledyne FLIR has received orders for over 1,800 Centaurs across multiple military branches. Deliveries are expected to commence in Q1 2023.

Teledyne FLIR Defense has secured a framework agreement worth up to NOK 475 million (approximately $48 million) with the Norwegian Defence Materiel Agency for multi-year deliveries of Black Hornet® nano UAVs. This four-year agreement can be extended for up to three additional years, marking Norway's largest commitment to date for this technology since it first received units in 2015. The Black Hornet, weighing 33 grams, offers covert situational awareness with a flight time of up to 25 minutes and has been widely deployed across defense forces globally.

Teledyne FLIR Defense announced the delivery of 127 PackBot 525 unmanned ground vehicles (UGVs) to the German Army. The deliveries, expected to finalize in July, strengthen the German military's capabilities amidst European security concerns. The PackBot 525, weighing 27 kg, is designed for diverse missions including bomb disposal and surveillance. With a history of aiding U.S. and international forces since 2001, these robots have collectively neutralized over 70,000 IEDs, enhancing operational safety and effectiveness.

Teledyne FLIR Defense has launched the Kobra™ 725 modular robot at Eurosatory, enhancing its previous model, Kobra 710. Designed for harsh environments, the Kobra 725 features improved mobility, capable of speeds up to 13 km/h, and a lift capacity to handle heavy loads. Weighing less than 250 kg, it offers advanced technology including full-HD cameras and AES-256 encryption. The robot is tailored for military tasks such as Explosive Ordnance Disposal and reconnaissance. The U.S. Army previously selected the Kobra 710 as its Common Robotic System-Heavy platform.