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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) announced that its subsidiary, Tyco Electronics Group S.A., priced a $500 million offering of 4.500% senior notes due 2026. The notes will be issued at a price of 99.811% with interest payable semi-annually. The net proceeds will support general corporate purposes including potential debt repayment. This offering is backed by an effective registration statement filed on June 21, 2021, and is expected to close on February 13, 2023. Major underwriters include BofA Securities, Citigroup Global Markets, and J.P. Morgan Securities.
TE Connectivity Ltd. (NYSE: TEL) reported fiscal Q1 2023 results with net sales of $3.8 billion, a 1% increase and 8% organic growth year-over-year. The Transportation Solutions segment saw strong growth of 14%, while Industrial Solutions grew by 7%. However, the Communications Solutions segment experienced an 11% decline. GAAP diluted EPS was $1.25, with adjusted EPS of $1.53, exceeding guidance despite a $0.25 impact from currency and tax challenges. The company projects Q2 2023 sales of around $3.9 billion and adjusted EPS of $1.57.
TE Connectivity has launched its inaugural Industrial Technology Index, revealing significant differences in how executives and engineers define and prioritize innovation. The survey highlights that 57% of executives see innovation as a total transformation, while 55% of engineers consider it an iteration. A striking 83% of engineers believe their company needs to invest more in innovation, compared to 53% of executives. The survey underscores the importance of sustainable practices, with one in five engineers reporting a lack of clear strategy in their organizations.
TE Connectivity Ltd. (NYSE: TEL) will hold its 2023 annual general meeting (AGM) on March 15 at 2 p.m. CET in Zürich, Switzerland. Shareholders with voting rights as of February 23 will be entitled to vote. A Notice of Internet Availability of Proxy Materials will be sent to registered shareholders on January 5, providing details on accessing proxy materials online. Beneficial holders must maintain their shares until the record date to be eligible to vote. Shareholders are encouraged to review the definitive proxy statement for critical information.
TE Connectivity Ltd. (NYSE: TEL) is set to release its first quarter financial results for fiscal 2023 on January 25, 2023, before market trading begins. A conference call for investors will occur at 8:30 a.m. ET, accessible via the company's website and by telephone. TE Connectivity is a leader in industrial technology, offering extensive connectivity and sensor solutions across various sectors, including transportation and medical technology, and operates with over 85,000 employees globally.
TE Connectivity Ltd. (NYSE: TEL) announced an increase in its quarterly dividend from $0.56 to $0.59 per share, effective from April 2023. This change raises the annual dividend from $2.24 to $2.36 per share. The proposal will be voted on at the Annual General Meeting on March 15, 2023. This decision reflects the company's ongoing commitment to return value to its shareholders.
TE Connectivity Ltd. (NYSE: TEL) reported robust Q4 and fiscal year 2022 results, exceeding expectations. Q4 net sales reached $4.4 billion, up 14% year-over-year, with an adjusted EPS of $1.88, reflecting an 11% increase. For the fiscal year, net sales hit a record $16.3 billion, a 9% rise, with GAAP EPS of $7.47, up 10%. The company achieved record cash flow from operating activities of $2.5 billion. Outlook for Q1 FY23 projects net sales of about $3.75 billion, showing a 2% decrease reported but 9% organic growth.
TE Connectivity Ltd. (NYSE: TEL) is set to announce its fourth quarter and full year financial results for fiscal 2022 before the market opens on Nov. 2, 2022. An investor conference call will follow at 8:30 a.m. ET, accessible via telephone and TE's investor website. The replay will be available post-call at 11:30 a.m. ET on the same day. TE Connectivity specializes in connectivity and sensor solutions across various industries, employing over 85,000 individuals globally.
TE Connectivity, a global leader in connectors and sensors, received the GreenTech Award 2022/23 from the Swiss Institute for Quality Testing for its innovations in sustainable technology. The award recognizes Swiss companies that excel in sustainability, focusing on patents and their impact on various industries. TE was acknowledged for achievements in Energy, Climate-Friendly Production, and Transportation. CEO Terrence Curtin emphasized the importance of sustainability in the company's mission and its positive global impact.
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