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 Technologies (NYSE:TDY) has agreed to acquire FLIR Systems (NASDAQ:FLIR) for approximately $8 billion in a cash and stock deal. FLIR stockholders will receive $28 per share in cash plus 0.0718 Teledyne shares, valuing FLIR shares at $56 each—a 40% premium based on recent trading. Teledyne plans to fund the acquisition with a $4.5 billion credit commitment and expects the deal to be accretive to earnings immediately, excluding transaction costs. The merger is set to close mid-2021, pending shareholder and regulatory approvals.
Teledyne Technologies (NYSE:TDY) announced preliminary results for Q4 and full year 2020, projecting sales of around $800 million, with GAAP diluted earnings per share expected between $3.16 and $3.19, marking a record high. The anticipated GAAP operating margin for Q4 is approximately 17.5%. For the full year, GAAP diluted EPS is expected to be between $10.30 and $10.33, surpassing previous estimates. Additionally, Teledyne expects to achieve record cash flow, ending 2020 with about $115 million in net debt.
Teledyne ISCO, a unit of Teledyne Technologies (NYSE: TDY), is actively tracking SARS-CoV-2 through wastewater sampling. Their automatic samplers, deployed globally, enable detection of virus RNA, often before COVID-19 symptoms emerge, enhancing early response efforts in communities. The CDC's National Wastewater Surveillance System relies on this method for understanding virus spread. With approximately 1,000 samplers in use worldwide, Teledyne ISCO supports various sectors, providing crucial data to combat the pandemic.
Teledyne CARIS has announced funding from Canada’s Ocean Supercluster to develop the CARIS Cloud Technology Project, aimed at enhancing hydrographic processing and charting for remote operations. The project focuses on three areas: enhancing desktop products for global access, supporting remote mapping operations for ocean robotics, and providing virtual training on the CARIS Cloud Platform. Collaborations include partners like Ocean Floor Geophysics and Canadian universities.
Teledyne Imaging, a part of Teledyne Technologies, has announced the development of a new generation of CMOS sensors and cameras aimed at scientific and commercial markets. The initiative focuses on combining CCD and CMOS technologies to meet rising demands for performance, featuring designs with resolutions up to 66 megapixels and quantum efficiency reaching 95%. Prototypes are expected by Q4 of 2021, with full production planned for 2022. This project leverages over five decades of experience across Teledyne's various business units.
Teledyne Brown Engineering (TBE), a division of Teledyne Technologies (NYSE:TDY), has secured an $85 million contract modification from NASA to supply two additional Launch Vehicle Stage Adapters (LVSA) for the Artemis II and III missions. The LVSA are crucial components for the Space Launch System, facilitating the separation between the rocket's Core Stage and the Interim Cryogenic Propulsion Stage. TBE is committed to its ongoing partnership with Marshall Space Flight Center, having previously delivered the LVSA Structural Test Article in 2016 and Flight Unit 1 in July 2020.
Teledyne Technologies (NYSE:TDY) announced that Executive Vice President Jason VanWees will present at the Baird 2020 Global Industrial Virtual Conference on November 11 at 1:25 p.m. (Eastern). A live webcast of the presentation will be accessible via the company's website. Teledyne is known for its sophisticated instrumentation, digital imaging products, and aerospace electronics, with operations in the U.S., Canada, the UK, and Europe. The company also provided a cautionary notice about forward-looking statements related to various factors, including the impact of COVID-19 and government spending.
Teledyne Imaging Group will host a virtual event from November 17-19, 2020, showcasing innovative imaging solutions. The sessions will include topics such as machine learning, high-resolution imaging, 3D sensing, and CMOS sensors, led by industry experts. Each day features two sessions, starting with Clarity at High Speed and concluding with Evolving CMOS Sensor Technology. Participants can sign up for one or more sessions to explore advancements in imaging technology essential for next-generation vision systems.
Teledyne Technologies reported third quarter 2020 net sales of $749.0 million, down 6.6% from $802.2 million in Q3 2019. Net income also decreased 12.0% to $93.9 million ($2.48 per diluted share). Operating margin improved to 16.4%, and free cash flow reached a record $135.1 million for the quarter, totaling $330.5 million year-to-date. The outlook for full-year GAAP EPS is narrowed to $9.70 to $10.00. Despite segment declines, management highlighted strength in the acquisition pipeline and a robust balance sheet.
Teledyne Technologies Incorporated (NYSE:TDY) appointed Michelle A. Kumbier to its Board of Directors effective October 20, 2020, increasing the board size to 11 members. Kumbier, previously Chief Operating Officer at Harley-Davidson, brings over 30 years of experience in product development, commercial management, and supply chain procurement. Her expertise is expected to enhance Teledyne's strategic initiatives. She holds an MBA from the University of Wisconsin and has been a board member at Abbott Laboratories since 2018, advocating for diversity and inclusion.
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