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TE Connectivity Ltd. (NYSE: TEL) is a global leader in industrial technology, creating solutions for a safer, more sustainable, productive, and connected future. Headquartered in Schaffhausen, Switzerland, and soon to be domiciled in Ireland, TE Connectivity provides a broad range of connectivity and sensor solutions that enable the distribution of power, signal, and data across various industries.
With an impressive portfolio of over 500,000 stock-keeping units, TE Connectivity serves nearly 150 countries and employs more than 85,000 people, including 8,000 engineers. These solutions support advancements in transportation, industrial applications, medical technology, energy, data communications, and home applications.
In fiscal 2024, TE Connectivity demonstrated robust financial performance, with earnings surpassing guidance due to significant margin expansions and record free cash flow. The company’s strong presence in electric vehicles (EVs) continues to drive sales growth, particularly within the Transportation segment. The Industrial segment also showed growth, driven by renewable energy, commercial air, and medical applications. Although the Communications segment faced challenges, the company is optimistic about future growth in artificial intelligence applications.
Among TE Connectivity’s recent achievements is the proposal to change its place of incorporation from Switzerland to Ireland, aimed at positioning the company for long-term success without material changes to its operations or financial results.
As a testament to its industry leadership, TE Connectivity consistently invests in mega trends such as e-mobility, renewable energy, factory automation, and artificial intelligence. These investments are crucial for driving long-term profitable growth and maintaining the company’s competitive edge.
TE Connectivity’s commitment to innovation and customer partnership is evident in its strategic initiatives and consistent delivery of value. The company’s latest financial outlook for the third quarter of fiscal 2024 projects net sales of approximately $4.0 billion, with adjusted earnings per share (EPS) of around $1.85, despite headwinds from tax and currency exchange rates.
For more detailed and up-to-date information, including recent news and investor presentations, visit www.te.com.
TE Connectivity (NYSE: TEL) has announced a definitive agreement to acquire Richards Manufacturing Co. for approximately $2.3 billion in an all-cash transaction. Richards, a leader in underground distribution equipment and network protector products, will strengthen TE's position in serving electrical utilities in North America.
The acquisition, expected to close in TE's fiscal third quarter (June 2025), will contribute annual sales of approximately $400 million with EBITDA margins in the mid-30% range. The transaction will be financed through cash and additional debt, with expected mid-teens return on invested capital upon completion of synergies. TE anticipates approximately $0.10 accretion to adjusted EPS in the first full year.
Richards Manufacturing, headquartered in Irvington, N.J., has experienced double-digit revenue growth in recent years and specializes in medium voltage cold-shrink cable accessories. The current Richards management team will continue to lead the business post-closing.
TE Connectivity (NYSE: TEL), a global leader in connectors and sensors, has achieved recognition on Fortune's World's Most Admired Companies list for the eighth consecutive year. CEO Terrence Curtin attributed this achievement to the company's dedication to innovation and customer partnership, aligned with TE's purpose of creating a safer, sustainable, productive, and connected future.
The prestigious list was compiled through a comprehensive analysis of 650 companies and feedback from over 3,300 executives. The evaluation process, conducted by Korn Ferry and Fortune, assessed nine key attributes, including:
- Global business effectiveness
- Talent attraction and retention
- Long-term investment value
- Innovation capabilities
- Corporate asset management
- Community and environmental responsibility
According to Laura Manson-Smith, Korn Ferry's global leader of organization strategy consulting, companies earn their ranking through leadership reputation, talent management, and strong corporate culture, beyond just financial performance.
TE Connectivity (NYSE: TEL) announced that its subsidiary, Tyco Electronics Group S.A., has priced an offering of €750 million in senior notes due 2033. The notes will be issued at 99.136% with a 3.250% annual interest rate, payable annually.
The offering is being made under a registration statement filed on October 1, 2024, with the expected closing date of January 31, 2025. The company plans to use the net proceeds for general corporate purposes, including potential debt repayment. BofA Securities Europe SA, Citigroup Global Markets , and J.P. Morgan Securities plc are serving as joint book-running managers for the offering.
TE Connectivity (NYSE: TEL) reported fiscal Q1 2025 results with net sales of $3.84 billion, flat year-over-year. The company achieved GAAP EPS of $1.75 and adjusted EPS of $1.95, up 6% year-over-year, exceeding guidance despite currency exchange headwinds.
Orders reached $4.0 billion, increasing 6% year-over-year and 4% sequentially, driven by the Industrial segment and AI programs. The company achieved record Q1 cash generation with operating cash flow of $878 million (up 22%) and free cash flow of $674 million (up 18%). TE returned approximately $500 million to shareholders and deployed $325 million for Industrial segment acquisitions.
For Q2 FY25, TE expects net sales of approximately $3.95 billion with adjusted EPS of $1.96, up 5% year-over-year, including $0.06 of currency exchange and tax headwinds.
TE Connectivity (NYSE: TEL) has announced its 2025 Annual General Meeting (AGM) will be held on March 12, 2025 at 2 p.m. GMT at the Conrad Dublin, Ireland. The company has updated its record date to January 13 due to the NYSE closure in observance of the National Day of Mourning for former President Jimmy Carter.
Shareholders registered with voting rights as of the close of business (EST) on January 13 will be eligible to vote at the AGM. Beneficial holders whose shares are held by nominees will be entitled to instruct their nominees to vote. The company will mail a Notice of Internet Availability of Proxy Materials to registered shareholders, providing instructions for accessing proxy materials and submitting votes online or by mail.
TE Connectivity (NYSE: TEL) has been recognized by the Dow Jones Sustainability Index for the 13th consecutive year, highlighting its commitment to sustainable business practices. The company ranks among the top 10% of the largest companies in the S&P Global Broad Market Index, based on comprehensive economic, governance, environmental, and social criteria.
CEO Terrence Curtin emphasized the company's dedication to making a positive global impact through sustainable products and practices. Notable achievements include having their greenhouse gas reduction targets validated by the Science Based Targets Initiative, achieving a 72% reduction in Scope 1 and 2 emissions since 2020, and sourcing over 77% of their energy from renewable sources.
TE Connectivity (NYSE: TEL) has announced it will release its first quarter fiscal 2025 financial results before market opening on January 22, 2025. The company will host a conference call for investors at 8:30 a.m. ET on the same day. Investors can access the call through the company's website at investors.te.com or via telephone. The U.S. dial-in number is (800) 715-9871, while international callers can dial (646) 307-1963. A replay of the conference call will be available on the company's investor website at 11:30 a.m. ET.
TE Connectivity (NYSE: TEL) reported strong Q4 and fiscal 2024 results, with Q4 net sales of $4.1 billion, up 1% year-over-year. The company achieved record adjusted EPS of $1.95 in Q4, up 10% year-over-year. Full-year highlights include net sales of $15.8 billion, record operating margins, and record cash flow generation of $3.5 billion from operations. The board authorized a $2.5 billion increase in share repurchase program. For Q1 FY25, TE expects net sales of approximately $3.9 billion and adjusted EPS of $1.88.
TE Connectivity (NYSE: TEL) has announced it will release its fourth quarter and full year financial results for fiscal 2024 on October 30, 2024, before trading begins. The company will host a conference call for investors at 8:30 a.m. ET on the same day.
Investors can access the call through TE Connectivity's website at investors.te.com or by telephone. The dial-in number for U.S. participants is (800) 715-9871, while international callers can use (646) 307-1963. A replay of the conference call will be available on the company's investor website at 11:30 a.m. ET on October 30, 2024.
TE Connectivity plc (NYSE: TEL), a world leader in connectivity and sensors, has appointed Sam Eldessouky to its board of directors, effective Oct. 4, 2024. Eldessouky, currently the executive vice president and chief financial officer of Bausch + Lomb , brings valuable expertise in accounting and financial leadership to the board.
Eldessouky's extensive experience includes roles at Bausch Health Companies, Tyco International plc, and PwC. He holds a Bachelor of Science in accountancy from Ain Shams University and a master's degree in accounting and finance from the University of Liverpool. TE Connectivity Chairman John Davidson expressed pleasure in welcoming Eldessouky to the board, highlighting his range of valuable expertise.
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