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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 Ltd. (NYSE: TEL) reported strong fiscal second-quarter results for the period ending March 31, 2023, with net sales of $4.16 billion, reflecting a 4% increase from the previous year, and an 8% organic growth. The Transportation Solutions segment saw a remarkable 12% organic growth, while the Industrial Solutions segment grew by 15%, despite a 20% decline in the Communications Solutions segment. GAAP diluted earnings per share (EPS) were $1.34, with adjusted EPS exceeding expectations at $1.65. Currency fluctuations negatively impacted sales by $155 million. The company generated strong cash flow of approximately $635 million and returned $375 million to shareholders. Looking ahead, TE Connectivity anticipates third-quarter net sales of around $4.0 billion and expects GAAP EPS of approximately $1.56.
TE Connectivity Ltd. (NYSE: TEL) will announce its second quarter financial results for fiscal 2023 on April 26, 2023, before market opening. An investor conference call will take place at 8:30 a.m. ET, with dial-in options available for both U.S. and international callers. The call can also be accessed through TE Connectivity's investor website. This report is critical as it will reveal essential financial metrics, including earnings, revenue, and EPS, shaping investor sentiment.
TE Connectivity (NYSE: TEL) announced the election of Jean-Pierre Clamadieu to its board of directors during the 2023 Annual General Meeting on March 15, 2023. Clamadieu, chairman of the board of ENGIE S.A. and former CEO of Solvay S.A., brings extensive leadership experience across various sectors, including aerospace and chemicals. TE Chairman Tom Lynch expressed confidence in Clamadieu's ability to provide valuable guidance, particularly given his global experience in financial crises and growth phases. As TE Connectivity continues to innovate in connectivity and sensor solutions, this board addition aims to strengthen its strategic decision-making.
On March 15, 2023, TE Connectivity Ltd. (NYSE: TEL) announced the approval of a $2.36 per share dividend by shareholders at its Annual General Meeting. The dividend will be paid out in four equal quarterly installments of $0.59 each. The payment dates are as follows:
- 3rd Quarter: June 2, 2023
- 4th Quarter: September 1, 2023
- 1st Quarter FY 2024: December 1, 2023
- 2nd Quarter FY 2024: March 1, 2024
TE Connectivity (NYSE: TEL) has been recognized as one of the 2023 World's Most Ethical Companies by Ethisphere, marking its ninth consecutive year on the list. In 2023, 135 honorees across 19 countries and 46 industries were acknowledged, with TE being one of only two representatives from the electronics and components sector. The assessment included a comprehensive evaluation of over 200 questions on corporate culture, environmental practices, and governance.
CEO Terrence Curtin emphasized the company's commitment to integrity and innovation, underscoring the importance of ethical practices in fostering long-term business performance.
TE Connectivity, a leader in connectors and sensors, announced the addition of nine students to its African Heritage Scholarship Program, which aims to diversify its workforce. The program, now in its second year with a total investment of $3.5 million, supports top-performing Black and African American students through internships and scholarships. Each student will undergo a 10- to 12-week internship, and upon completion, may receive scholarships of up to $22,500 for their junior year. The initiative emphasizes TE's commitment to building an inclusive workforce while fostering innovation in the technology industry.
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