Teledyne Technologies Q4 Earnings Top Estimates, Sales Rise Y/Y

Teledyne Technologies Inc. TDY reported fourth-quarter 2024 adjusted earnings of $5.52 per share, which surpassed the Zacks Consensus Estimate of $5.23 by 5.5%. The bottom line also improved 1.5% from $5.44 recorded a year ago.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The company recorded GAAP earnings of $4.20 per share, down 37.8% from the prior-year level of $6.75.TDY reported 2024 adjusted earnings of $19.73 per share, which surpassed the Zacks Consensus Estimate of $19.45 by 1.4%. Full-year earnings also was higher than the year-ago figure of $19.69 per share.The year-over-year improvement in the bottom line can be attributed to higher net sales in the fourth quarter than the year-ago reported actuals.Teledyne Technologies Incorporated Price, Consensus and EPS Surprise  Teledyne Technologies Incorporated price-consensus-eps-surprise-chart | Teledyne Technologies Incorporated QuoteOperational Highlights of TDYTotal sales were $1.50 billion, which beat the Zacks Consensus Estimate of $1.45 billion by 3.7%. The top line also rose 5.4% from the $1.43 billion reported a year ago. This improvement can be attributed to higher year-over-year sales recorded in all of its business segments.The company reported sales of $5.67 billion during 2024, which surpassed the Zacks consensus estimate of $5.62 billion. The full-year sales also was higher than the reported figure of $5.64 billion in 2023.TDY’s Segmental PerformanceInstrumentation: Sales in this segment increased 10.1% year over year to $368.9 million, driven by higher sales of marine instrumentation, an increase in sales of electronic test and measurement instrumentation as well as sales of environmental instrumentation.The adjusted operating income increased 11.1% year over year to $100.8 million.Digital Imaging: Quarterly sales in this division increased 2.5% year over year to $822.2 million. The increase was due to higher sales of unmanned air systems, surveillance systems and commercial infrared imaging systems.The adjusted operating income dropped 32.4% year over year to $90.8 million.Aerospace & Defense Electronics: Sales in this segment totaled $196.5 million, up 6.8% from the top line recorded in the prior-year quarter. This improvement was driven by higher sales of defense electronics.The adjusted operating income increased 12.8% year over year to $56.4 million.Engineered Systems: Revenues in this division improved 11% year over year to $114.7 million, driven by higher sales of engineered products, particularly electronic manufacturing services products and energy systems.This segment's operating income dropped 20.3% year over year to $9.8 million.Financial Condition of TDYTeledyne’s cash and cash equivalents totaled $649.8 million as of Dec. 29, 2024, compared with $648.3 million as of Dec. 31, 2023. Its long-term debt was $2.65 billion at the end of the fourth quarter of 2024 compared with $2.64 billion as of Dec. 31, 2023.Cashflow from operating activities totaled $1.19 billion during 2024 compared with $0.84 billion in the prior year.Capital expenditure amounted to $29 million in the fourth quarter, down from $40.2 million in the prior-year quarter.TDY generated free cash flow of $303.4 million, significantly up from $124.2 million in the prior-year quarter.TDY’s GuidanceTeledyne expects to generate adjusted earnings in the band of $4.80-$4.90 per share for the first quarter of 2025. The Zacks Consensus Estimate for first-quarter earnings is pegged at $5.14, higher than the company's guided range.For 2025, Teledyne expects its adjusted earnings to be in the range of $21.10-$21.50 per share. The Zacks Consensus Estimate for earnings is pegged at $21.62 per share, higher than the company’s guided range.TDY’s Zacks RankTeledyne currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Upcoming Defense ReleasesLeidos Holdings, Inc. LDOS is set to report fourth-quarter 2024 earnings on Feb. 11, 2025, before market open. It has an Earnings ESP of +12.08% and a Zacks Rank of 2 at present.The Zacks Consensus Estimate for LDOS’ earnings is pegged at $2.18 per share. The consensus estimate for its sales is pegged at $4.12 billion, indicating year-over-year growth of 3.6%.Northrop Grumman Corporation NOC is set to post its fourth-quarter 2024 results on Jan. 30, before market open. It has an Earnings ESP of +1.36% and a Zacks Rank of 3 at present.The Zacks Consensus Estimate for NOC’s earnings is pegged at $6.26 per share. The consensus estimate for its sales is pegged at $11.02 billion, indicating year-over-year growth of 3.6%.CurtissWright CW is set to report its fourth-quarter results on Feb. 12, after market close. It has an Earnings ESP of +1.29% and a Zacks Rank of 3 at present.The Zacks Consensus Estimate for CW’s earnings is pegged at $3.08 per share. The consensus estimate for its sales is pegged at $785.5 million.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Northrop Grumman Corporation (NOC): Free Stock Analysis Report Teledyne Technologies Incorporated (TDY): Free Stock Analysis Report Curtiss-Wright Corporation (CW): Free Stock Analysis Report Leidos Holdings, Inc. (LDOS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks