24.04.2024 12:22:48 - dpa-AFX: TE Connectivity Issues Q3 Guidance

WASHINGTON (dpa-AFX) - TE Connectivity Ltd. (TEL) said, for the third
quarter, the company expects net sales of approximately $4.0 billion. GAAP EPS
from continuing operations are expected to be approximately $1.71, up 2% year
over year, with adjusted EPS of approximately $1.85, up 5% year over year.

Second quarter bottom line totaled $541 million, or $1.75 per share compared
with $433 million, or $1.36 per share, in last year's second quarter. Excluding
items, TE Connectivity reported adjusted earnings of $577 million or $1.86 per
share for the period. Analysts on average had expected the company to earn $1.83
per share, according to figures compiled by Thomson Reuters. Analysts' estimates
typically exclude special items.

The company's revenue for the quarter fell 4.6% to $3.97 billion from $4.16
billion last year. Sales were down 3% organically.

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