Welcome to our dedicated page for Teledyne Technologies Incorporated news (Ticker: TDY), a resource for investors and traders seeking the latest updates and insights on Teledyne Technologies Incorporated stock.
Teledyne Technologies Incorporated (symbol: TDY) is a leading provider of sophisticated electronic components, instruments, and communications products. The company excels in various domains including defense electronics, data acquisition, communications equipment for airlines and business aircraft, monitoring and control instruments for industrial and environmental applications, as well as components and subsystems for wireless and satellite communications.
The Teledyne Solution: Teledyne has solutions to meet diverse challenges. Their segments bring decades of expertise, working together to develop leading-edge technologies. They serve niche markets where performance, precision, and reliability are vital, with customers including major industrial and communications companies, government agencies, aerospace prime contractors, and general aviation companies.
Business Segments:
- Instrumentation: Provides monitoring instruments primarily for marine and environmental applications.
- Digital Imaging: The largest revenue contributor, includes image sensors and cameras for industrial, government, and medical customers.
- Aerospace and Defense Electronics: Supplies electronic components and communication products for aircraft.
- Engineered Systems: Offers solutions for defense, space, environmental, and energy applications.
Teledyne Technologies generates approximately a fourth of its revenue from contracts with the United States government. Recent achievements include expanding their product offerings and securing significant contracts in various sectors. The company's strategic partnerships and continuous innovation have solidified its position as a prominent player in the technology and defense industries.
Teledyne FLIR Defense, part of Teledyne Technologies (NYSE:TDY), has secured a $168.3 million five-year IDIQ contract from the U.S. Army to upgrade the M1135 Stryker's Nuclear, Biological and Chemical Reconnaissance Vehicle Sensor Suite. The company received an initial delivery order worth $7.5 million. As lead integrator, Teledyne FLIR will modernize the Army's NBCRV system with improved autonomous CBRN sensors, including the FLIR Defense R80D SkyRaider™ drone with MUVE™ B330 biological detection payload. The program is expected to continue through 2029, with work conducted at facilities in Stillwater, Elkridge, and Tucson.
Teledyne Technologies (NYSE:TDY) has announced its participation in the Baird 2024 Global Industrial Conference on Tuesday, November 12. The company will be represented by George Bobb, President and Chief Operating Officer, and Jason VanWees, Vice Chairman. Their latest investor presentation will be accessible to the public on Teledyne's website.
Teledyne is a provider of sophisticated digital imaging products, software, instrumentation, aerospace and defense electronics, and engineered systems, with operations primarily in the United States, Canada, the United Kingdom, and Western and Northern Europe.
Teledyne Technologies (NYSE:TDY) has announced an agreement to acquire select aerospace and defense electronics businesses from Excelitas Technologies for $710 million in cash. The acquisition includes the Optical Systems business (Qioptiq® brand) in Northern Wales, which provides advanced optics for military displays and night vision systems, and the U.S.-based Advanced Electronic Systems business, which produces electronic devices for defense and space applications. The transaction is expected to complete in early 2025 and be accretive to both GAAP and non-GAAP earnings per share.
Teledyne Technologies (NYSE:TDY) announced an agreement to acquire Micropac Industries (OTC:MPAD) for $20.00 per share in an all-cash transaction valued at approximately $57.3 million. Founded in 1963, Micropac designs and manufactures microelectronic circuits, optoelectronic components, and sensor and display assemblies for military, aerospace, and medical applications. The transaction, unanimously approved by both companies' boards, is expected to close by the end of 2024. Stockholders holding approximately 75% of Micropac's shares have already approved the merger agreement.
Teledyne Technologies (NYSE:TDY) reported strong third quarter 2024 results with all-time record quarterly sales of $1,443.5 million, up 2.9% year-over-year. The company achieved record third quarter GAAP earnings per share of $5.54, a 31.9% increase from $4.15 in 2023. Operating margin remained stable at 18.8%, while non-GAAP operating margin was 22.5%. Cash from operations reached $249.8 million with free cash flow of $228.7 million. The company raised its full-year 2024 GAAP EPS outlook to $17.28-$17.42 and narrowed non-GAAP EPS guidance to $19.35-$19.45. Notable achievements include strong performance in defense, space, and energy businesses, with orders exceeding sales for the fourth consecutive quarter.
Teledyne FLIR Defense, part of Teledyne Technologies Incorporated (NYSE:TDY), has secured a five-year contract worth up to $91 million from the U.S. Army for its Black Hornet® 4 Personal Reconnaissance Systems. This contract falls under the Soldier Borne Sensor (SBS) program, Phase II. The company has already received $25 million in initial orders for the first batch of Black Hornet 4 drones, controllers, spare parts, and training.
The U.S. Army has been acquiring Black Hornet systems since 2018, with orders totaling over $215 million to date. The Black Hornet 4, designed and built in Norway, is a nano-unmanned aerial system (UAS) used by soldiers for squad and small unit surveillance and reconnaissance. It provides situational awareness from protected positions, enhancing soldier safety. Currently, Black Hornet systems are utilized by more than 40 countries worldwide.
Teledyne Technologies (NYSE:TDY) has announced its contribution to NASA's Europa Clipper mission, which launched successfully from Kennedy Space Center. The mission's Mapping Imaging Spectrometer for Europa (MISE) instrument features a Teledyne CHROMA-A focal plane array, customized to measure 421 channels with 10 nm spectral resolution across the short-to-mid-wave infrared range.
This technology will help scientists study Europa's geologic history and assess its ocean's potential habitability. Teledyne and NASA's Jet Propulsion Lab are also developing a fully digital focal plane array (FPA) for future spectrometers, with the new 3072×512 pixel CHROMA-D focal plane array planned for NASA's Surface Biology and Geology Earth Science mission in 2028.
Teledyne FLIR Defense, part of Teledyne Technologies Incorporated (NYSE:TDY), unveils the Cerberus XL C-UAS air domain monitoring and counter-drone platform at the AUSA conference in Washington D.C. This advanced system features:
- High-performance long-range sensors and Counter Unmanned Aerial Systems technology
- Thermal/visual imaging systems, 3D radars, and RF detection
- Ability to detect and track over 500 targets simultaneously
- Non-kinetic effectors for threat defeat up to three kilometers
- Modular design for air, ground, and maritime threats
- Integration with kinetic defeat solutions and AI-enhanced target identification
The system has been battle-proven in Ukraine and is designed for rapid deployment in challenging environments, addressing military force protection, airports, seaports, borders, and critical infrastructure security needs.
Teledyne Technologies Incorporated (NYSE:TDY) has announced its third quarter 2024 earnings webcast details. The company will hold a conference call to discuss the results on Wednesday, October 23, 2024, at 8:00 a.m. Pacific. A press release containing the financial results will be issued before the New York Stock Exchange opens on the same day.
Investors can access the call at www.teledyne.com/investors/events-and-presentations approximately ten minutes before the scheduled start time. A replay of the call will be available on the website for about one month, starting at 9:00 a.m. Pacific on October 23, 2024.
Teledyne Technologies is a leading provider of sophisticated digital imaging products and software, instrumentation, aerospace and defense electronics, and engineered systems. The company's operations are primarily located in the United States, Canada, the United Kingdom, and Western and Northern Europe.
Teledyne DALSA, a Teledyne Technologies [NYSE:TDY] company, has unveiled its next-generation AI-powered BOA™3 smart camera for industrial automation and inspection. The BOA3 combines features from previous BOA generations with new sensor and AI inspection technologies developed by Teledyne. It offers:
- Sensor resolutions from 1.2 to 12MP
- Integrated or C-mount lens options
- Onboard I/O
- Easy-to-use machine vision software
The camera comes with iNspect™ software, featuring tools for positioning, part locating, pattern matching, measuring, barcode reading, and defect detection. It also includes AI Classification and Object Detection models created in Astrocyte™, Teledyne DALSA's AI Trainer software. BOA3 models with 1.2, 5MP, and 12MP monochrome sensors are available immediately, with color versions planned for release at the end of 2024.
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