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TEL · TE Connectivity plc

50 filings

10-Q

TEL 10-Q Quarterly Reports

TE Connectivity plc - 50 quarterly reports

Filing record · 2016–202610-K1010-Q338-K129

TEL filed 10 annual reports (10-K), 33 quarterly reports (10-Q) and 129 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Nov ’17Nov ’17
  2. Restructuring8-K · Oct ’19Oct ’19
  3. Material agreement8-K · Jun ’21Jun ’21
  4. FY2025 annual report10-K · Nov ’25Nov ’25
  1. 2026-Q3

    TE Connectivity plc Quarterly Report for Q3 Ended Jun 26, 2026

    TE Connectivity plc (TEL) reported a strong financial performance for the nine months ended June 26, 2026, with net sales increasing by 16.5% year-over-year to $14.57 billion. This growth was driven by robust performance in both the Transportation Solutions and Industrial Solutions segments. The company's operating income also saw a significant increase of $603 million to $2.90 billion. A key driver for the Industrial Solutions segment was the strong demand in digital data networks, particularly for AI applications. Financially, TE Connectivity demonstrated solid cash generation, with net cash provided by operating activities reaching $3.00 billion for the nine-month period. The company also continued its commitment to returning capital to shareholders through dividends and a substantial share repurchase program, authorizing an additional $3.0 billion increase. Management has provided an optimistic outlook for the fourth quarter of fiscal 2026, expecting net sales of approximately $5.25 billion and diluted earnings per share from continuing operations around $2.84. Recent strategic moves include the planned acquisition of Astrodyne TDI for $1.4 billion, expected to close by year-end 2026, further bolstering the Industrial Solutions segment, particularly in power and filter solutions. The company also completed a smaller acquisition in the Industrial Solutions segment for $200 million during the nine-month period. These strategic initiatives, combined with strong operational execution, position TE Connectivity for continued growth.

    Jul 24, 2026
  2. 2026-Q2

    TE Connectivity plc Quarterly Report for Q2 Ended Mar 27, 2026

    TE Connectivity plc (TEL) reported a strong second quarter for fiscal year 2026, with net sales increasing by 14.5% year-over-year to $4.74 billion. This growth was driven by robust performance in both the Industrial Solutions and Transportation Solutions segments, with organic net sales up 7.2%. The company demonstrated improved profitability, as evidenced by a higher gross margin of 36.8% compared to 35.2% in the prior year's quarter. Diluted earnings per share (EPS) saw a significant jump to $2.90, from $0.04 in the comparable period of the previous year, reflecting operational improvements and increased sales volumes. For the first six months of fiscal year 2026, net sales grew 18.0% to $9.41 billion, with organic net sales increasing by 11.0%. Diluted EPS for the six-month period reached $5.42, a substantial increase from $1.80 in the prior year. The company's strong operating cash flow of $1.81 billion in the first half of the year underscores its financial health. TE Connectivity also announced a quarterly cash dividend of $0.78 per share and continued its share repurchase program, signaling confidence in its financial outlook and commitment to returning value to shareholders.

    Apr 24, 2026
  3. 2026-Q1

    TE Connectivity plc Quarterly Report for Q1 Ended Dec 26, 2025

    TE Connectivity plc (TEL) reported robust financial performance for the first quarter of fiscal year 2026, with net sales increasing significantly by 21.7% year-over-year to $4.7 billion. This growth was driven by strong organic sales increases of 15.0% and contributions from acquisitions. The company saw substantial improvements in both its Transportation Solutions and Industrial Solutions segments, with the latter experiencing particularly strong growth in areas like digital data networks and energy. Profitability also saw a healthy rise, with operating income increasing by 39.6% to $963 million and diluted earnings per share from continuing operations reaching $2.53, up from $1.75 in the prior year's comparable quarter. The company maintained a strong cash flow from operations, providing ample resources for investing activities, debt repayment, and returning capital to shareholders through dividends and share repurchases. Management provided an optimistic outlook for the second quarter of fiscal 2026, expecting continued sales growth and solid earnings.

    Jan 23, 2026
  4. 2025-Q3

    TE Connectivity plc Quarterly Report for Q3 Ended Jun 27, 2025

    TE Connectivity plc (TEL) reported a strong third quarter for fiscal year 2025, with net sales increasing by 13.9% year-over-year to $4.534 billion. This growth was driven by robust performance in the Industrial Solutions segment, which saw a 30.0% sales increase, and a more modest 2.8% increase in the Transportation Solutions segment. The company also reported improved gross margins, reflecting higher volumes and manufacturing efficiencies. The acquisition of Richards Manufacturing Co. for $2.3 billion in April 2025 significantly contributed to the Industrial Solutions segment's performance and overall revenue growth. For the first nine months of fiscal 2025, net sales grew 6.2% to $12.513 billion, with the Industrial Solutions segment showing a 19.7% increase and Transportation Solutions experiencing a 2.5% decline. Diluted earnings per share from continuing operations for the quarter were $2.14, a slight increase from $1.86 in the prior year's quarter. The company has raised its full-year outlook for net sales to approximately $4.55 billion for the fourth quarter, indicating continued confidence in its growth trajectory, supported by organic growth and strategic acquisitions.

    Jul 25, 2025
  5. 2025-Q2

    TE Connectivity plc Quarterly Report for Q2 Ended Mar 28, 2025

    TE Connectivity plc (TEL) reported its financial results for the quarter and six months ended March 28, 2025. The company experienced a notable increase in net sales, driven primarily by strong performance in its Industrial Solutions segment, which saw significant growth in areas like digital data networks and energy. However, the Transportation Solutions segment faced a decline in net sales, impacted by softer demand in automotive and commercial transportation end markets. Despite revenue headwinds in Transportation, the company demonstrated improved gross margins and operating income compared to the prior year's periods, partly due to higher volumes and ongoing productivity improvements. Significant events during the period include substantial acquisitions, particularly the large acquisition of Richards Manufacturing shortly after the quarter's end, which is expected to bolster the Energy business within the Industrial Solutions segment. The company also managed its capital structure effectively, with robust operating cash flow and continued share repurchases, while navigating a complex global tax environment. Overall, TE Connectivity presented a mixed but generally positive financial picture, highlighting its ability to grow in key industrial sectors while managing challenges in its transportation business. The company's strategic acquisitions and ongoing operational efficiencies are key drivers for future performance, though investors should monitor the integration of new businesses and potential market shifts.

    Apr 28, 2025
  6. 2025-Q1

    TE Connectivity plc Quarterly Report for Q1 Ended Dec 27, 2024

    TE Connectivity plc (TEL) reported flat net sales for the first quarter of fiscal year 2025, with $3.836 billion in net sales, consistent with the prior year period. While the Industrial Solutions segment saw a robust 10.8% increase in net sales driven by growth in digital data networks and aerospace, defense, and marine sectors, this was offset by a 6.3% decline in the Transportation Solutions segment, primarily due to softness in automotive and commercial transportation markets. The company's gross margin improved to 35.5% from 34.6% year-over-year, indicating better pricing and operational efficiencies. Looking ahead, TE Connectivity anticipates second-quarter fiscal year 2025 net sales of approximately $3.95 billion, a slight decrease from the prior year's comparable period. A significant factor impacting future results is an anticipated $600 million reduction in net deferred tax assets in the quarter ending March 28, 2025, related to new global minimum corporate tax guidance. The company also continued its strategic acquisitions in the Industrial Solutions segment and maintained a strong focus on capital allocation, including share repurchases.

    Jan 24, 2025
  7. 2024-Q3

    TE Connectivity plc Quarterly Report for Q3 Ended Jun 28, 2024

    TE Connectivity Ltd. (TEL) reported its financial results for the fiscal third quarter ending June 27, 2024. The company saw a slight decrease in net sales, down 0.5% year-over-year to $3.98 billion, primarily driven by weaker performance in its Transportation Solutions segment, which was partially offset by growth in Communications Solutions. Despite the modest top-line dip, the company demonstrated improved profitability, with operating income increasing to $755 million from $630 million in the prior year's quarter. Gross margin expanded significantly to 34.8% from 32.5% due to better manufacturing productivity and product mix. Diluted EPS from continuing operations also rose to $1.86. The company reaffirmed its outlook for the full fiscal year and expects net sales of approximately $4.0 billion for the fourth quarter. Key financial activities during the quarter included robust share repurchases totaling $1.235 billion year-to-date, underscoring a commitment to returning capital to shareholders. TE Connectivity also highlighted progress in its restructuring initiatives aimed at optimizing its cost structure and manufacturing footprint, with a projected full-year restructuring charge of approximately $100 million.

    Jul 29, 2024
  8. 2024-Q2

    TE Connectivity plc Quarterly Report for Q2 Ended Mar 29, 2024

    TE Connectivity plc (TEL) reported its fiscal second quarter 2024 results, showing a net sales decrease of 4.6% year-over-year to $3.97 billion. This decline was primarily driven by organic sales decreases across all three segments: Transportation Solutions (-4.0%), Industrial Solutions (-4.0%), and Communications Solutions (-9.5%). Despite the top-line pressure, gross margin improved significantly to 34.4% from 30.9% in the prior year's quarter, benefiting from improved manufacturing productivity and prior year pricing actions. Diluted earnings per share from continuing operations increased to $1.75, up from $1.36 in the same period last year, reflecting the improved gross margin and effective cost management. For the first six months of fiscal 2024, net sales decreased by 2.5% to $7.80 billion, also impacted by segment-level declines, particularly in Communications Solutions (-13.4%). However, gross margin for the six-month period also showed robust improvement, increasing to 34.5% from 30.9% a year ago. Diluted earnings per share from continuing operations surged to $7.54, a substantial increase from $2.60 in the prior year's comparable period, largely due to significant income tax benefits recognized in the current year. The company also completed the acquisition of Schaffner Holding AG for $339 million, enhancing its Industrial Solutions segment.

    Apr 26, 2024
  9. 2024-Q1

    TE Connectivity plc Quarterly Report for Q1 Ended Dec 29, 2023

    TE Connectivity Ltd. (TEL) reported a stable net sales performance for the first quarter of fiscal year 2024, with total net sales of $3.83 billion, a slight decrease of 0.3% compared to the prior year's $3.84 billion. This stability was achieved despite a 0.7% decline in organic net sales, with the difference attributed to favorable foreign currency translation effects. The company experienced a significant boost in operating income, which rose to $698 million from $502 million in the prior year, driven by improved gross margins (34.6% vs. 30.9%) due to better manufacturing productivity and prior-year pricing actions, as well as a substantial reduction in restructuring charges. Geographically, the EMEA region showed robust growth in net sales (+6.4%), while the Americas saw a decline (-6.0%), and Asia-Pacific remained relatively flat (-2.0%). Segment-wise, Transportation Solutions demonstrated strong growth (+5.0%), primarily driven by the automotive sector, while Communications Solutions experienced a significant decline (-17.0%). Industrial Solutions saw a modest decrease (-3.3%), impacted by a slowdown in industrial equipment but offset by growth in aerospace, energy, and medical markets. Notably, the company successfully acquired Schaffner Holding AG for $349 million, strengthening its Industrial Solutions segment.

    Jan 26, 2024
  10. 2023-Q3

    TE Connectivity plc Quarterly Report for Q3 Ended Jun 30, 2023

    TE Connectivity Ltd. reported net sales of $3.998 billion for the third quarter of fiscal year 2023, a slight decrease of 2.4% compared to the prior year quarter. This decline was primarily driven by a significant drop in the Communications Solutions segment, which fell 36.8%, while the Transportation Solutions segment showed resilience with a 5.8% increase. For the first nine months of fiscal 2023, net sales grew 0.6% year-over-year to $11.999 billion, with Transportation and Industrial Solutions segments showing growth, while Communications Solutions continued to decline. Despite the overall modest sales performance, the company's operating income for the quarter was $630 million, a decrease from $719 million in the prior year. Diluted earnings per share from continuing operations were $1.67 for the quarter. The company's balance sheet remains solid with total assets of $21.7 billion. TE Connectivity also continues to actively manage its capital structure, with significant share repurchases and dividend payments, underscoring a commitment to shareholder returns.

    Jul 28, 2023
  11. 2023-Q2

    TE Connectivity plc Quarterly Report for Q2 Ended Mar 31, 2023

    TE Connectivity Ltd. (TEL) reported its financial results for the quarter and six months ended March 31, 2023. For the quarter, net sales increased by 3.8% year-over-year to $4.16 billion, driven by growth in the Transportation Solutions and Industrial Solutions segments, although Communications Solutions saw a decline. Diluted EPS from continuing operations was $1.34. The company highlighted a significant increase in restructuring and other charges, primarily related to cost structure improvements across all segments, impacting operating income. For the six-month period, net sales grew 2.2% to $8.00 billion, with similar segment performance trends. Net cash provided by operating activities was strong at $1.215 billion for the six months. The company provided an outlook for the third quarter of fiscal 2023, expecting net sales of approximately $4.0 billion and diluted EPS of approximately $1.56, reflecting anticipated declines in Communications Solutions. Key financial developments include a continued focus on operational efficiencies through restructuring programs, which incurred substantial charges in the period. Despite inflationary pressures on materials and operations, the company managed to offset some of these impacts through pricing actions. The balance sheet shows a healthy cash position, with significant share repurchases and dividend payments continuing to return capital to shareholders. Management remains focused on navigating macroeconomic uncertainties and supply chain challenges while pursuing strategic growth opportunities.

    Apr 28, 2023
  12. 2023-Q1

    TE Connectivity plc Quarterly Report for Q1 Ended Dec 30, 2022

    TE Connectivity Ltd. (TEL) reported net sales of $3,841 million for the first quarter of fiscal year 2023, a slight increase of 0.6% compared to $3,818 million in the prior year period. This modest top-line growth was primarily driven by an 8.2% increase in organic net sales, indicating resilience in underlying demand across key segments. However, foreign currency translation headwinds significantly impacted reported sales, resulting in a negative currency impact of $299 million. Profitability faced pressure due to increased costs and foreign exchange. Operating income declined by $170 million to $502 million, with operating margin contracting from 17.6% to 13.1%. This was largely attributable to a substantial increase in restructuring and other charges, which rose to $111 million from $12 million in the prior year, alongside inflationary pressures on material and operating costs. Despite these challenges, the company maintained strong operating cash flow of $581 million.

    Jan 27, 2023
  13. 2022-Q3

    TE Connectivity plc Quarterly Report for Q3 Ended Jun 24, 2022

    TE Connectivity Ltd. (TEL) reported solid financial results for the quarter and nine months ended June 24, 2022. Net sales increased by 6.6% and 7.4% respectively, driven by strong organic growth across its Industrial Solutions and Communications Solutions segments, partially offset by unfavorable foreign currency translation. The company also saw improvements in gross margin due to pricing actions and higher volumes, despite inflationary pressures. The company reaffirmed its full-year fiscal 2022 outlook, projecting net sales of approximately $16.1 billion and diluted earnings per share of approximately $7.04. While facing macroeconomic headwinds such as inflation, supply chain disruptions, and geopolitical instability, TE Connectivity has implemented pricing strategies and cost management initiatives to mitigate these impacts. The company's robust cash flow from operations provides financial flexibility for strategic investments, share repurchases, and dividends.

    Jul 29, 2022
  14. 2022-Q2

    TE Connectivity plc Quarterly Report for Q2 Ended Mar 25, 2022

    TE Connectivity Ltd. (TEL) reported solid financial results for the quarter ending March 25, 2022, demonstrating resilience and growth across its key segments. Net sales increased by 7.2% year-over-year to $4.007 billion, driven by strong organic growth of 8.4%. This growth was primarily fueled by the Industrial Solutions segment, which saw a 12.9% increase in net sales, and the Communications Solutions segment, with a remarkable 23.8% jump in net sales. The company's profitability also showed improvement, with operating income rising to $705 million from $612 million in the prior year's quarter, leading to a gross margin of 33.4% and operating margin of 17.6%. Diluted earnings per share were $1.71, an increase from $1.51 in the comparable period. Despite some headwinds from foreign currency translation and increased material costs, TE Connectivity effectively managed these challenges through pricing actions and operational efficiencies, underscoring its robust business model and ability to adapt to evolving market conditions.

    Apr 29, 2022
  15. 2022-Q1

    TE Connectivity plc Quarterly Report for Q1 Ended Dec 24, 2021

    TE Connectivity plc reported strong performance for the first quarter of fiscal year 2022, with net sales increasing by 8.4% to $3.82 billion compared to the prior year period. This growth was driven by robust organic sales increases of 8.0%, primarily in the Industrial Solutions and Communications Solutions segments, which saw significant rises of 21.3% and 41.4%, respectively. Despite a slight dip in the Transportation Solutions segment, the company demonstrated effective operational management, leading to a substantial increase in operating income by 50.5% to $672 million. Diluted earnings per share also saw a significant increase to $1.72, up from $1.14 in the prior year's comparable quarter, reflecting improved profitability and operational efficiency.

    Jan 28, 2022
  16. 2021-Q3

    TE Connectivity plc Quarterly Report for Q3 Ended Jun 25, 2021

    TE Connectivity Ltd. (TEL) reported strong financial results for the third quarter and first nine months of fiscal year 2021, reflecting a significant recovery and growth compared to the prior year period impacted by COVID-19. Net sales surged by 50.9% in the third quarter and 24.6% for the nine-month period, driven by robust performance across all segments, particularly Transportation Solutions. The company demonstrated improved profitability, with gross margin expanding to 33.0% in the quarter and operating income significantly increasing. This performance was supported by higher volumes, improved manufacturing productivity, and favorable foreign currency translation. TE Connectivity also maintained a strong liquidity position and provided an optimistic outlook for the fourth quarter and full fiscal year 2021, expecting further sales growth and solid earnings per share.

    Jul 29, 2021
  17. 2021-Q2

    TE Connectivity plc Quarterly Report for Q2 Ended Mar 26, 2021

    TE Connectivity Ltd. (TEL) reported strong performance for the quarter ending March 26, 2021, with net sales increasing by 17.0% year-over-year to $3.74 billion. This growth was driven by robust demand in the Transportation Solutions and Communications Solutions segments, with notable organic sales increases of 15.3% and 28.7% respectively. The company also saw a significant rebound in operating income to $612 million, a substantial improvement from the $415 million loss in the prior year period, largely due to higher volumes and improved productivity, partially offset by restructuring charges. For the six months ended March 26, 2021, net sales rose 14.1% to $7.26 billion, and operating income surged to $1.06 billion from $56 million in the prior year. The company highlighted strong organic sales growth across its segments, with particular strength in Automotive and Data & Devices. Despite ongoing impacts from the COVID-19 pandemic, TE Connectivity demonstrated resilience and a clear recovery trajectory, supported by effective cost management and strategic acquisitions. The company also provided a positive outlook for the third quarter of fiscal 2021, expecting net sales of approximately $3.7 billion and diluted EPS of $1.51.

    Apr 23, 2021
  18. 2021-Q1

    TE Connectivity plc Quarterly Report for Q1 Ended Dec 25, 2020

    TE Connectivity Ltd. (TEL) reported strong performance in its first fiscal quarter of 2021, which ended December 25, 2020. Net sales increased by 11.2% year-over-year to $3.52 billion, driven by a significant 19.1% surge in the Transportation Solutions segment, particularly in the automotive market. The Communications Solutions segment also showed robust growth of 13.9%. While the Industrial Solutions segment experienced a slight decline of 5.8%, this was largely attributed to ongoing impacts from the COVID-19 pandemic in specific sub-markets like aerospace and medical. The company demonstrated effective cost management, with selling, general, and administrative expenses decreasing slightly, and highlighted a substantial increase in restructuring and other charges, indicating strategic moves to optimize operations. Net income more than doubled year-over-year to $381 million, with diluted earnings per share rising to $1.14 from $0.08 in the prior year's comparable quarter. The company also generated strong operating cash flow of $640 million, underscoring its financial health and operational efficiency in a recovering economic environment.

    Jan 28, 2021
  19. 2020-Q3

    TE Connectivity plc Quarterly Report for Q3 Ended Jun 26, 2020

    TE Connectivity Ltd. (TEL) reported its financial results for the quarter and nine months ended June 26, 2020. The company experienced a significant decline in net sales, down 24.8% year-over-year for the quarter and 12.2% for the nine-month period. This downturn was primarily attributed to the adverse impacts of the COVID-19 pandemic, which affected demand across its key segments, particularly Transportation Solutions. The company also recorded a substantial goodwill impairment charge of $900 million in the Transportation Solutions segment, primarily due to projected declines in sales and profitability influenced by the pandemic and reduced global automotive production. Despite the revenue challenges, TE Connectivity continued its strategic initiatives, including the acquisition of approximately 72% of First Sensor AG. The company also focused on cost management and operational efficiencies, with significant restructuring charges incurred. While facing headwinds, management expressed confidence in the company's liquidity and ability to meet future financial obligations, expecting a sequential improvement in net sales in the fourth quarter of fiscal 2020.

    Jul 30, 2020
  20. 2020-Q2

    TE Connectivity plc Quarterly Report for Q2 Ended Mar 27, 2020

    TE Connectivity Ltd. (TEL) reported a challenging second quarter for fiscal year 2020, ending March 27, 2020, with net sales declining 6.4% year-over-year to $3.2 billion. This decline was primarily driven by the early impacts of the COVID-19 pandemic, which significantly affected demand in key markets such as automotive and commercial transportation. The company recorded a substantial goodwill impairment charge of $900 million related to its Sensors reporting unit within the Transportation Solutions segment, reflecting current and projected declines in sales and profitability. Despite the top-line headwinds and the significant impairment charge, TE Connectivity generated $892 million in net cash from operating activities for the first six months of fiscal 2020, demonstrating operational resilience. The company also made strategic moves, including the acquisition of 72% of First Sensor AG for $232 million to bolster its sensing solutions capabilities in the Transportation Solutions segment. Looking ahead, the company anticipates a continued decline in sales for the third quarter of fiscal 2020, with further uncertainty due to the ongoing pandemic, leading them to withdraw their full-year guidance.

    May 4, 2020
  21. 2020-Q1

    TE Connectivity plc Quarterly Report for Q1 Ended Dec 27, 2019

    TE Connectivity Ltd. (TEL) reported a 5.3% decrease in net sales for the first quarter of fiscal year 2020, ending December 27, 2019, compared to the same period in fiscal year 2019. This decline was primarily driven by softer demand in the Transportation Solutions and Communications Solutions segments, with organic net sales down 4.8%. The company also incurred a significant tax expense related to Swiss Tax Reform, which heavily impacted net income. Despite the sales challenges, the company maintained a strong gross margin and demonstrated effective cost management, leading to a slight increase in operating income for the Industrial Solutions segment. Management provided a cautious outlook for the full fiscal year 2020, anticipating continued sales declines in key segments.

    Jan 29, 2020
  22. 2019-Q3

    TE Connectivity plc Quarterly Report for Q3 Ended Jun 28, 2019

    TE Connectivity Ltd. reported a decrease in net sales for the third quarter and first nine months of fiscal 2019 compared to the prior year, with sales declining in the Transportation Solutions and Communications Solutions segments, partially offset by growth in Industrial Solutions. Despite lower sales, the company maintained a strong gross margin and demonstrated effective cost control, leading to a slight decrease in operating income. The company highlighted progress in its restructuring initiatives and continued to return capital to shareholders through dividends and share repurchases. The sale of the Subsea Communications (SubCom) business was completed during the period, impacting reported results. Looking ahead, TE Connectivity anticipates continued sales pressure in the fourth quarter of fiscal 2019, particularly in the automotive sector due to market weakness in China and EMEA. The company expects full-year fiscal 2019 sales to be between $13.35 billion and $13.45 billion. Management remains focused on managing costs, capital resources, and navigating the evolving macroeconomic environment. The company also noted a significant income tax benefit related to Swiss Tax Reform, which will be followed by a significant tax expense upon cantonal implementation.

    Jul 26, 2019
  23. 2019-Q2

    TE Connectivity plc Quarterly Report for Q2 Ended Mar 29, 2019

    TE Connectivity's fiscal Q2 2019 10-Q (quarter ended March 29, 2019) shows a soft top line and margin pressure. Net sales fell 4.2% to $3,412 million in the quarter and 2.0% to $6,759 million for the six months, with currency translation the main drag (about 4.3% in the quarter). Organic sales declined only 0.5% in the quarter and rose 0.7% for the six months. Transportation Solutions, driven by automotive weakness in Asia-Pacific and EMEA, was the weak spot, while Industrial Solutions grew 3.6% in the quarter on aerospace, defense, oil and gas strength. Gross margin contracted to 32.8% from 34.0% in the quarter, on product mix, FX and price erosion, and operating margin fell to 15.5% from 17.4%. GAAP earnings were cushioned by a lower tax rate and lower interest expense. Diluted EPS from continuing operations was $1.26 versus $1.38, and six-month diluted EPS from continuing operations was $2.37 versus $1.29. The six-month comparison is distorted by the prior-year $567 million Tax Cuts and Jobs Act charge. Restructuring rose sharply, to $117 million in the six months from $40 million, with fiscal 2019 total restructuring now guided to about $250 million. Management guided Q3 net sales to $3.4-3.5 billion and diluted EPS from continuing operations to $1.13-1.17, and full-year net sales to $13.55-13.75 billion with EPS of $4.88-4.98. Cash and balance sheet items were mixed. Operating cash flow from continuing operations was $883 million, up from $645 million, helped by receivable collections. Shareholder returns were significant, with $684 million of buybacks in the six months and $299 million of dividends, and $1.8 billion remained on the authorization. Cash fell to $565 million. Total debt was roughly $4.0 billion. The company sold its SubCom business for $297 million net proceeds, recording an $86 million pre-tax loss, and retains about $1.7 billion of performance guarantees tied to that business. Management also flagged that Swiss tax reform could materially affect future results and that ASC 842 adoption is expected to materially increase the balance sheet.

    Apr 26, 2019
  24. 2019-Q1

    TE Connectivity plc Quarterly Report for Q1 Ended Dec 28, 2018

    TE Connectivity's first quarter of fiscal 2019 (quarter ended December 28, 2018) showed essentially flat top-line performance with net sales of $3,347 million, up 0.3% from $3,336 million a year earlier. Organic growth was 1.9%, offset by a 2.2% negative currency translation effect. Growth came from Industrial Solutions (+5.2%) and Communications Solutions (+2.6%), while Transportation Solutions declined 2.3% on automotive weakness, particularly in China and EMEA. Profitability weakened: gross margin fell to 33.3% from 34.9%, driven by price erosion, FX, and lower manufacturing productivity, and operating income dropped 17% to $484 million from $586 million, with restructuring charges of $75 million more than doubling year over year. GAAP net income was $276 million ($0.80 diluted EPS), a sharp improvement from a prior-year loss of $40 million, but that comparison is distorted by a $567 million one-time Tax Cuts and Jobs Act charge in the prior year. Continuing-operations EPS was $1.11 versus a loss of $0.09. The quarter also included a $107 million loss from discontinued operations, mainly a $96 million pre-tax loss on the sale of the SubCom business for $288 million in net cash proceeds. Management guided fiscal 2019 net sales to $13.45-$13.85 billion (vs. $14.0 billion in fiscal 2018) and continuing-operations diluted EPS to $4.94-$5.14, and guided Q2 EPS to $1.13-$1.17 on softer automotive production (expected down about 9% in the quarter). Balance sheet and cash flow were solid. Cash from continuing operations was $328 million, capex was $210 million, and the company returned capital through $495 million of share repurchases and $150 million of dividends. Cash fell to $505 million from $848 million, and total debt declined slightly to $3,967 million from $4,000 million. The board authorized a $1.5 billion increase to the buyback program, leaving $2.0 billion of capacity. Investors should weigh the revenue stagnation, margin compression, and the SubCom divestiture against the ongoing capital return program and the company's guidance.

    Jan 24, 2019
  25. 2018-Q3

    TE Connectivity plc Quarterly Report for Q3 Ended Jun 29, 2018

    TE Connectivity's Q3 FY2018 10-Q (quarter ended June 29, 2018) shows strong top-line momentum. Net sales rose 11.8% to $3,764 million in the quarter and 13.8% to $10,989 million for the nine months, with organic growth of 6.2% and 7.0% respectively, and foreign currency adding about 3.9 and 4.9 points. Growth was led by Transportation Solutions (up 19.7% in the quarter), while Communications Solutions declined 4.7% on subsea production delays. Operating income rose 2.4% in the quarter to $558 million, but operating margin compressed to 14.8% from 16.2%, and gross margin fell to 32.3% from 33.9% amid price erosion and higher copper costs. The headline GAAP earnings picture is distorted by the Tax Cuts and Jobs Act. Nine-month income tax expense was $789 million, including $567 million of one-time deferred tax asset revaluation, so nine-month net income fell to $904 million from $1,249 million and diluted EPS from continuing operations was $2.56 versus $3.47. Quarterly diluted EPS from continuing operations was $1.29 versus $1.21, and management guided fiscal 2018 diluted EPS from continuing operations to $3.79 to $3.81 and net sales to $14.58 to $14.68 billion. Cash generation and capital allocation remain solid, though the balance sheet shows some pressure. Operating cash flow from continuing operations was $1,527 million, versus $1,449 million a year earlier, but capital expenditures nearly doubled to $686 million, reducing free cash flow. Cash fell to $770 million and total debt declined to $4,008 million from $4,344 million after repaying $708 million of notes. The company returned cash through $435 million of dividends and $612 million of buybacks, with $1.4 billion of repurchase authorization remaining, and a $325 million note maturing in December 2018 will need to be addressed.

    Jul 26, 2018
  26. 2018-Q2

    TE Connectivity plc Quarterly Report for Q2 Ended Mar 30, 2018

    TE Connectivity's fiscal Q2 2018 10-Q (quarter ended March 30, 2018) shows strong top-line momentum: net sales rose 16.1% to $3,745 million, with organic growth of 6.9% and a 9.2-point tailwind from currency and acquisitions. Operating income grew 29.7% to $624 million, and operating margin improved to 16.7% from 14.9%, led by Transportation Solutions, where sales grew 21.6% and operating income rose 39%. Gross margin, however, compressed to 33.2% from 34.4%, reflecting price erosion and a Subsea Communications production delay that weighed on Communications Solutions, where organic sales fell 2.5% for the six months and operating income declined. GAAP net income was distorted by a $567 million one-time tax charge from the U.S. Tax Cuts and Jobs Act, which drove the six-month effective tax rate to 61.0% and cut six-month diluted EPS from continuing operations to $1.28 from $2.26. Excluding that charge, the earnings picture is considerably better than the headline numbers suggest, and management guided fiscal 2018 diluted EPS from continuing operations to $3.70-$3.76 and net sales to $14.5-$14.7 billion. Cash generation was softer, with operating cash flow down to $727 million from $925 million on working capital build, while capex rose to $447 million. Debt fell to $4.0 billion from $4.3 billion after repaying $708 million of notes, and the company continued returning capital through $381 million of buybacks and $281 million of dividends. Key watch items for investors are the Subsea Communications weakness, gross margin pressure from price erosion, the working-capital drag on cash flow, and the tax-related accounting: the company believes the interest-carryforward deferred tax asset is correctly valued, but further IRS guidance could trigger a future charge.

    Apr 25, 2018
  27. 2018-Q1

    TE Connectivity plc Quarterly Report for Q1 Ended Dec 29, 2017

    TE Connectivity's first quarter of fiscal 2018 (ended December 29, 2017) was dominated by a one-time non-cash tax charge from the U.S. Tax Cuts and Jobs Act. Net sales rose 13.6% to $3.48 billion, with organic growth of 7.9%, 2.0 points from acquisitions and 3.7 points from favorable currency translation. Transportation Solutions drove the increase, growing 21.3%, while Communications Solutions declined 4.6% on a sharp drop in subsea communications sales. Operating income grew 17% to $581 million, and operating margin expanded to 16.7% from 16.2%, though gross margin contracted to 33.8% from 34.8% amid price erosion. The bottom line swung to a net loss of $40 million, or $(0.11) per diluted share, versus net income of $409 million a year earlier. The swing reflects a $567 million income tax charge from the revaluation of U.S. deferred tax assets to the new 21% federal rate, partially offset by a $61 million benefit from legal entity restructurings. Excluding these tax items, earnings would have been strongly positive. Management reiterated fiscal 2018 guidance of $14.1 billion to $14.3 billion in net sales and diluted EPS from continuing operations of $3.61 to $3.71, and guided second-quarter EPS to $1.18 to $1.22. Cash flow and balance sheet trends were mixed. Operating cash flow fell to $350 million from $404 million, and capital expenditures rose to $241 million from $130 million, leaving free cash flow of roughly $109 million. Cash fell to $704 million after the repayment of $708 million in senior notes. Total debt declined to $4.0 billion from $4.3 billion. The company repurchased $214 million of shares and paid $141 million in dividends, and the board added $1.5 billion to the buyback authorization, leaving $1.77 billion available.

    Jan 24, 2018
  28. 2017-Q3

    TE Connectivity plc Quarterly Report for Q3 Ended Jun 30, 2017

    TE Connectivity's fiscal Q3 2017 10-Q (quarter ended June 30, 2017) shows steady top-line growth and improving profitability on an operating basis. Net sales rose 7.9% to $3,367 million (organic growth of 8.3%), with all three segments growing: Transportation Solutions +6.8%, Industrial Solutions +6.6% (helped by acquisitions), and Communications Solutions +12.4%. Gross margin expanded 110 basis points to 33.8%, and operating income rose 18.6% to $536 million, with operating margin of 15.9%. Nine-month results were similarly positive, with net sales up 8.4% to $9,657 million and operating income up 7.9% to $1,495 million. Net income fell sharply to $435 million from $839 million, but this comparison is distorted by the prior-year period, which included a $1,019 million tax benefit and a $651 million other expense tied to the settlement of pre-separation tax matters. Excluding those items, underlying earnings grew. Management guided fiscal 2017 net sales to $12.85-$12.95 billion and diluted EPS from continuing operations to $4.54-$4.56. Q4 EPS guidance is $1.07-$1.09, with a year-over-year sales comparison burdened by an extra week in fiscal 2016. Balance sheet and cash flow remain solid. Operating cash flow from continuing operations was $1,449 million for the nine months, with capex of $452 million. Total debt declined to $3,991 million from $4,070 million, and cash rose to $755 million. Management returned capital through $405 million in dividends and $386 million in share repurchases, with $716 million remaining under the authorization. Investors should watch the $708 million of 6.55% senior notes due October 2017, which management says will be covered by cash from operations and other sources, and the ongoing restructuring program, with fiscal 2017 charges expected to reach about $150 million.

    Jul 26, 2017
  29. 2017-Q2

    TE Connectivity plc Quarterly Report for Q2 Ended Mar 31, 2017

    TE Connectivity's fiscal Q2 2017 10-Q (quarter ended March 31, 2017) shows continued top-line momentum. Net sales rose 9.3% to $3,227 million in the quarter (8.2% organic) and 8.7% to $6,290 million for the first six months (7.5% organic). Growth was led by Industrial Solutions (+15.6%, largely from acquisitions) and Transportation Solutions (+9.1%, with automotive, commercial transportation and sensors all up). Communications Solutions grew 2.1% in the quarter, though it declined 0.9% for the half-year because of the fiscal 2016 divestiture of the Circuit Protection Devices business. Gross margin expanded 170 basis points to 34.3%, aided by volume and lower material costs, partly offset by price erosion of $59 million in the quarter. Profitability was mixed. Operating income fell 11.6% to $473 million in the quarter, because the prior-year quarter included a $146 million pre-tax gain on the CPD sale and this year's quarter carried $59 million of restructuring charges. Excluding those items, operating performance improved. Diluted EPS from continuing operations was $1.13, versus $1.06 a year earlier, helped by a much lower effective tax rate of 8.8% (versus 25.0%) and a 2.5% reduction in diluted share count. Cash generation was strong, with operating cash flow of $925 million for the six months (up from $547 million), though the company also returned $263 million in dividends and repurchased $205 million of shares. Liquidity is adequate: cash was $773 million, and the $708 million of 6.55% senior notes due October 2017 have been reclassified to short-term debt. Management guided fiscal Q3 2017 net sales to $3.2–3.3 billion and diluted EPS from continuing operations to $1.08–1.12, and full-year fiscal 2017 net sales to $12.6–12.8 billion with diluted EPS of $4.39–4.47. Both outlooks include currency headwinds. The shareholder-approved dividend of $1.60 per share, payable in four quarterly installments, and $897 million of remaining buyback authorization signal continued capital return.

    Apr 26, 2017
  30. 2017-Q1

    TE Connectivity plc Quarterly Report for Q1 Ended Dec 30, 2016

    TE Connectivity's first quarter of fiscal 2017 (quarter ended December 30, 2016) delivered solid top-line and margin improvement. Net sales rose 8.1% to $3,063 million, with organic growth of 6.6%, led by Transportation Solutions (+11.1%) and Industrial Solutions (+12.1%, aided by acquisitions), while Communications Solutions declined 3.9%. Gross margin expanded 140 basis points to 34.8%, and operating income rose 22% to $486 million (15.9% operating margin). Diluted EPS from net income was $1.14, versus $0.91 a year earlier, though the prior-year comparison was flattered by a larger share count and higher discontinued operations income. Income from continuing operations per diluted share was $1.13, against $0.83 a year earlier. The effective tax rate fell to 11.7% from 15.2%, helped by a $30 million tax benefit. Cash generation was steady, with operating cash flow from continuing operations of $404 million and capital expenditures of $130 million. The company returned capital through $132 million in dividends and $102 million in share repurchases, a much smaller buyback than the $1,318 million repurchased in the prior-year quarter. Total debt fell to $4,028 million, and cash rose to $665 million. Short-term debt jumped to $1,052 million because $708 million of 6.55% senior notes come due in October 2017, a refinancing or repayment item investors will watch. Total shareholders' equity increased to $8,837 million, partly due to the early adoption of ASU 2016-09, which added $165 million to accumulated earnings. Looking ahead, management guided fiscal 2017 net sales to $12.2–12.6 billion and diluted EPS from continuing operations to $4.04–$4.24, including a roughly $0.14 per-share currency headwind. For the second quarter, guidance calls for net sales of $3.025–$3.125 billion and EPS of $0.97–$1.01. Key watch items include price erosion, which reduced organic sales by $51 million this quarter, expected restructuring charges of about $150 million for fiscal 2017, and exposure to the UK's exit from the European Union.

    Jan 26, 2017
  31. 2016-Q3

    TE Connectivity plc Quarterly Report for Q3 Ended Jun 24, 2016

    TE Connectivity's fiscal Q3 2016 (quarter ended June 24, 2016) was mixed. Net sales were flat at $3,121M versus $3,118M a year earlier, though the nine-month figure fell 3.7% to $8,906M, with foreign currency translation the largest drag (about 2.8 points). Organic sales declined 0.6% in the quarter and 1.3% year-to-date. Gross margin contracted to 32.7% from 33.6%, and operating income fell to $452M from $469M. Diluted EPS from continuing operations was $2.19, up from $0.85, but that improvement is almost entirely driven by non-operating items, chiefly a $1,135M tax benefit from settling the long-running IRS intercompany debt dispute, partly offset by a $604M other expense charge tied to the Tax Sharing Agreement with Tyco and Covidien. Underlying operations were softer. Transportation Solutions held up with organic growth of 2.2% in the quarter, led by automotive, while Industrial Solutions and Communications Solutions both declined organically. Data and devices fell sharply, partly due to the divestiture of the Circuit Protection Devices business, which produced a $143M pre-tax gain in the nine-month period. Free cash flow improved to $991M from $687M, largely from working capital gains. Cash fell to $694M after heavy share repurchases of $2,514M in the nine months and roughly $1.2B of remaining authorization. Total debt rose to about $4.0B, and management kept its fiscal 2016 guidance for net sales of $12.15B to $12.35B and diluted EPS of $5.13 to $5.19. For investors, the key takeaways are that the headline GAAP earnings rebound is largely a one-time tax event rather than a recovery in operating performance, that margins are under pressure from price erosion and mix, and that capital returns are being funded from the balance sheet at a time of weak organic growth. The pending Intercontec acquisition for about $340M and ongoing restructuring, expected to cost roughly $110M in fiscal 2016, are also relevant to the outlook.

    Jul 22, 2016
  32. 2016-Q2

    TE Connectivity plc Quarterly Report for Q2 Ended Mar 25, 2016

    TE Connectivity's fiscal Q2 2016 (quarter ended March 25, 2016) showed continued top-line pressure but improved profitability and cash returns. Net sales fell 4.2% to $2,952 million (organic decline of 2.0%, with a $75 million currency headwind), and six-month sales fell 5.6% to $5,785 million. Reported operating income rose 19% to $535 million, but this was flattered by a $146 million pre-tax gain on the sale of the Circuit Protection Devices (CPD) business. Excluding special items, the company's operating performance weakened: gross margin fell 1.5 points to 32.6%, driven by price erosion and currency, and the Industrial Solutions and Communications Solutions segments both saw organic declines. Diluted EPS from continuing operations was $1.06 versus $0.77 a year earlier, and net income was $380 million versus $599 million, reflecting the absence of last year's large BNS divestiture gain in discontinued operations. Capital allocation was aggressive. The company repurchased about 40 million shares for $2.4 billion in the first half, and the board added $1.0 billion to the buyback authorization, leaving $1.3 billion available. Cash fell to $1.15 billion from $3.33 billion at fiscal year-end, and total equity dropped to $7.4 billion from $9.6 billion. Free cash flow improved to $402 million from $296 million, helped by inventory reduction, but operating cash flow was reduced by a $443 million pre-payment to the IRS to stop deficiency interest on the intercompany debt dispute. Management guided fiscal 2016 net sales to $12.1–12.5 billion and diluted EPS to $3.92–4.12, both including the Creganna Medical acquisition closed April 4, 2016 for roughly $900 million. Investors should weigh the underlying softness in Communications Solutions (data and devices down 24% organically) and Industrial Solutions (oil and gas weakness) against the cleaner earnings mix and shareholder returns. The unresolved IRS intercompany debt matter, with potential exposure in the billions of dollars, remains the principal contingent risk, though management states it is adequately reserved.

    Apr 21, 2016
  33. 2016-Q1

    TE Connectivity plc Quarterly Report for Q1 Ended Dec 25, 2015

    TE Connectivity Ltd. (TEL) reported a decrease in net sales for the first quarter of fiscal 2016, with a 7.1% decline compared to the prior year, primarily driven by the negative impact of foreign currency translation. On an organic basis, net sales saw a 1.8% decrease, with notable declines in the Industrial Solutions and Communications Solutions segments. However, the Transportation Solutions segment showed slight organic growth. The company's operating income also experienced a decline, impacted by lower sales volumes and foreign currency headwinds. Despite these challenges, TE Connectivity highlighted improvements in operating margin for the Communications Solutions segment. The company continued its strategic divestiture efforts with an agreement to sell its Circuit Protection Devices (CPD) business. Cash flow from operations showed improvement, with net cash provided by continuing operating activities increasing significantly due to better accounts receivable collections, leading to a substantial rise in free cash flow. The company also continued its share repurchase program and paid dividends, indicating a focus on returning capital to shareholders while managing its debt levels and liquidity.

    Jan 22, 2016
  34. 2015-Q3

    TE Connectivity plc Quarterly Report for Q3 Ended Jun 26, 2015

    TE Connectivity's fiscal Q3 2015 (quarter ended June 26, 2015) showed modest top-line growth with reported net sales up 1.4% to $3,118 million, and 4.2% organic growth after excluding a $278 million currency headwind and the $143 million contribution from the Measurement Specialties acquisition. Gross margin expanded to 33.6% from 33.1%, and diluted EPS from continuing operations was $0.85 versus $0.83 a year earlier. Reported net income fell to $309 million from $403 million, however, because of a $42 million loss from discontinued operations that includes a $126 million pre-tax charge tied to the Com-Net litigation, which the company is appealing. The balance sheet and cash flow picture is weaker. Cash fell to $701 million from $2,457 million at fiscal year-end, reflecting the roughly $1.7 billion Measurement Specialties purchase, $536 million of buybacks, and dividends. Free cash flow dropped to $687 million from $901 million, and goodwill rose to $4.8 billion. Total debt increased to $4.0 billion. Management guided fiscal 2015 net sales to $12.28–12.42 billion and diluted EPS from continuing operations to $3.48–3.54, while flagging weakness in China, the commercial transportation market, and oil and gas. The largest pending item for investors is the $3.0 billion sale of the Broadband Network Solutions business, expected to close in calendar 2015, which would provide substantial cash to deploy. The IRS dispute over roughly $2.7–6.6 billion of intercompany interest deductions also remains unresolved, with the company stating it believes its reserves are appropriate.

    Jul 23, 2015
  35. 2015-Q2

    TE Connectivity plc Quarterly Report for Q2 Ended Mar 27, 2015

    TE Connectivity Ltd. (TEL) reported its financial results for the quarter ended March 27, 2015. The company saw an increase in net sales to $3.08 billion, up 4.0% from the prior year, driven by growth across all segments and notably the acquisition of Measurement Specialties. However, operating income decreased slightly to $448 million, impacted by acquisition-related charges and restructuring costs. The company's balance sheet remained largely stable, with total assets at $20.24 billion. A significant development was the agreement to sell its Broadband Network Solutions (BNS) business for $3.0 billion, which is expected to close in calendar year 2015. This divestiture, along with the acquisition of Measurement Specialties, reflects ongoing strategic portfolio management. Investors should note the company's continued focus on operational efficiency and strategic acquisitions/divestitures.

    Apr 23, 2015
  36. 2015-Q1

    TE Connectivity plc Quarterly Report for Q1 Ended Dec 26, 2014

    TE Connectivity plc (TEL) reported a net sales increase of 4.2% to $3.47 billion for the first quarter of fiscal year 2015, compared to the same period last year. This growth was primarily driven by the Transportation Solutions segment, bolstered by the recent acquisition of Measurement Specialties, Inc. for $1.7 billion. While overall net sales saw an increase, the Consumer Solutions segment experienced a notable decline. The company's profitability was impacted by acquisition and integration costs related to Measurement Specialties, as well as restructuring charges, particularly in the Consumer Solutions segment. Despite these impacts, diluted earnings per share increased to $1.14 from $0.84 in the prior year quarter. TE Connectivity also announced a significant strategic move: the planned divestiture of its Broadband Network Solutions (BNS) business for $3.0 billion, which is expected to close in 2015 and will be reported as a discontinued operation. Cash flow from operations decreased year-over-year, largely due to timing of tax payments and project activity. The company maintained its commitment to shareholder returns through dividend payments and share repurchases, with an additional $3.0 billion authorized for share repurchases. The outlook for the full fiscal year 2015 projects continued sales growth, albeit with a cautious view on foreign currency impacts and segment performance.

    Jan 28, 2015
  37. 2014-Q3

    TE Connectivity plc Quarterly Report for Q3 Ended Jun 27, 2014

    TE Connectivity Ltd. (TEL) reported strong financial results for the fiscal third quarter and the first nine months of 2014. Net sales saw a notable increase driven by robust performance in the Transportation Solutions segment, particularly in the automotive market across all regions, and growth in Industrial Solutions, especially in aerospace, defense, oil, and gas. While Network Solutions experienced a decline, primarily due to softness in subsea and data communications, overall organic sales demonstrated resilience. The company is strategically expanding its reach with the planned acquisition of Measurement Specialties for approximately $1.7 billion and the recent acquisition of SEACON Group for $452 million, indicating a focus on inorganic growth. Significant restructuring efforts are underway, with planned charges of approximately $65 million for fiscal 2014 to improve efficiency and competitiveness. Despite ongoing global economic uncertainties, TE Connectivity maintains a positive outlook for the remainder of fiscal 2014, projecting continued sales growth and earnings per share within the expected range.

    Jul 24, 2014
  38. 2014-Q2

    TE Connectivity plc Quarterly Report for Q2 Ended Mar 28, 2014

    TE Connectivity plc (TEL) reported solid financial performance for the second quarter and the first half of fiscal year 2014. The company achieved a 5.1% increase in net sales for the quarter, reaching $3.43 billion, driven by strong growth in its Transportation Solutions segment, particularly in the automotive sector. This positive trend continued into the first six months, with net sales up 5.6% to $6.76 billion, also propelled by the Transportation segment. The company demonstrated improved profitability, with gross margin increasing to 34.2% in the quarter and operating income rising significantly across key segments. TE Connectivity also provided an optimistic outlook for the third quarter and full fiscal year 2014, projecting continued sales growth and earnings per share within expected ranges. Management highlighted successful integration of acquisitions and ongoing restructuring initiatives aimed at enhancing productivity and reducing costs. The company's financial position remains robust, with sufficient liquidity and a strong cash flow generation. A notable event was the announcement of an agreement to acquire SEACON Group for $490 million, aimed at expanding its underwater connector technology capabilities. Investors should note the ongoing tax-related matters stemming from the 2007 separation from Tyco International, which, while currently reserved for, could present future uncertainties.

    Apr 24, 2014
  39. 2014-Q1

    TE Connectivity plc Quarterly Report for Q1 Ended Dec 27, 2013

    TE Connectivity Ltd. (TEL) reported a solid increase in net sales and operating income for the first quarter of fiscal year 2014, compared to the prior year's quarter. Net sales grew by 6.1% to $3,326 million, driven primarily by a strong performance in the Transportation Solutions segment, which saw a 13.9% increase in net sales. Organic net sales also showed robust growth of 7.2%. The company's gross margin improved significantly due to better manufacturing productivity and higher volumes, leading to a substantial increase in operating income. Despite the overall positive performance, the Network Solutions segment experienced a slight decline in net sales, while the Consumer Solutions segment saw a modest decrease. The company also incurred restructuring charges, though significantly less than in the prior year. Management provided positive outlooks for the second quarter and full fiscal year 2014, anticipating continued sales growth, particularly in the automotive sector. The company also continued its share repurchase program, demonstrating confidence in its financial position and commitment to returning value to shareholders.

    Jan 23, 2014
  40. 2013-Q3

    TE Connectivity plc Quarterly Report for Q3 Ended Jun 28, 2013

    TE Connectivity Ltd. reported net sales of $3.45 billion for the third quarter of fiscal year 2013, a slight decrease of 1.4% compared to the same period in the prior year. This performance was influenced by a mixed economic environment, with declines in industrial and consumer-based markets partially offset by strength in the automotive sector. The company's operating income saw an increase to $439 million, driven by improved gross margins and productivity gains, despite higher restructuring and SG&A expenses. The company's strategic focus on operational efficiency and cost management continues, with ongoing restructuring efforts aimed at simplifying its manufacturing footprint and improving leverage. Financially, TE Connectivity maintained a solid liquidity position, with net cash provided by operating activities of $1.45 billion for the nine months ended June 28, 2013. The company also repurchased approximately $619 million of its common shares during this period, indicating a commitment to returning value to shareholders. A significant development mentioned is the ongoing resolution of tax matters related to its separation from Tyco International, which resulted in a notable tax benefit and expense in the current period, though potential future impacts remain uncertain. Investors should monitor the progress of these tax resolutions and the company's performance across its diverse segments.

    Jul 25, 2013
  41. 2013-Q2

    TE Connectivity plc Quarterly Report for Q2 Ended Mar 29, 2013

    TE Connectivity Ltd. (TEL) reported flat net sales for the second quarter and first six months of fiscal 2013 compared to the prior year. While overall sales remained stable, the company experienced a 4.0% decrease in organic net sales for the quarter and a 4.2% decrease for the first six months, indicating underlying softness in certain end markets. The company noted declines in industrial and infrastructure-based markets, particularly in Industrial Solutions and Network Solutions segments, while consumer-based markets were flat. Positive contributions from the automotive sector within Transportation Solutions and the recent acquisition of Deutsch provided some offset. Significant restructuring charges were incurred in the current period, impacting operating income, as the company continues to streamline its global manufacturing footprint. Despite these charges and some operational headwinds, the company provided an outlook for the third quarter and full fiscal year 2013 with projected net sales and diluted earnings per share. The company also highlighted its strong liquidity position and available capacity under its share repurchase program.

    Apr 24, 2013
  42. 2013-Q1

    TE Connectivity plc Quarterly Report for Q1 Ended Dec 28, 2012

    TE Connectivity Ltd. (TEL) reported its financial results for the first quarter of fiscal year 2013, ending December 28, 2012. Net sales slightly decreased by 1.1% to $3,134 million compared to the prior year's first quarter, driven by a 4.4% organic decline that was partially offset by a favorable acquisition and foreign currency translation impacts. The company experienced an increase in restructuring and other charges, which significantly impacted operating income. Despite the top-line decrease, gross margin improved due to manufacturing productivity gains. However, higher selling, general, and administrative expenses and substantial restructuring charges led to a decrease in operating income. A significant one-time income tax benefit related to the settlement of prior tax matters provided a substantial boost to net income, which rose to $277 million from $262 million in the comparable prior-year period. Diluted earnings per share also saw a slight increase, benefiting from this tax item.

    Jan 25, 2013
  43. 2012-Q3

    TE Connectivity plc Quarterly Report for Q3 Ended Jun 29, 2012

    TE Connectivity Ltd. (TEL) reported its fiscal third quarter and nine-month results for the period ending June 29, 2012. The company experienced a slight decrease in net sales year-over-year for both the quarter and the nine-month period, primarily driven by softness in the Communications and Industrial Solutions and Network Solutions segments, partially offset by growth in Transportation Solutions. A significant event during the period was the acquisition of Deutsch Group SAS in April 2012, which expanded TE Connectivity's product portfolio and market reach, particularly in harsh environment applications within the Transportation Solutions segment. The company also continued its efforts to streamline operations, including ongoing restructuring and manufacturing simplification initiatives. Financially, the company navigated a complex environment marked by global economic uncertainties and foreign currency fluctuations, which negatively impacted reported sales. Despite these headwinds, TE Connectivity demonstrated resilience, with improvements in certain operational metrics and a focus on managing costs and capital resources. The company also completed the divestiture of its Touch Solutions and TE Professional Services businesses, classifying them as discontinued operations. Management provided an outlook for the fourth quarter and full fiscal year 2012, anticipating continued challenges in some segments but expecting benefits from the Deutsch acquisition.

    Jul 26, 2012
  44. 2012-Q2

    TE Connectivity plc Quarterly Report for Q2 Ended Mar 30, 2012

    TE Connectivity plc (TEL) reported its financial results for the quarter and six months ended March 30, 2012. The company experienced a slight decline in net sales for both periods compared to the prior year, with organic net sales also showing a decrease. This was primarily driven by weakness in the Communications and Industrial Solutions segment, offset partially by growth in the Transportation Solutions segment. Despite lower sales, the company saw an improvement in gross margin due to better manufacturing productivity, though this was partially impacted by decreased volume and higher material costs. Operating income saw a slight decrease overall due to these factors, alongside restructuring and acquisition-related costs. The company also announced a significant subsequent event: the acquisition of Deutsch Group SAS for approximately $2.05 billion, which is expected to bolster its offerings in harsh environment connectors and key industrial markets. Concurrently, TE Connectivity is progressing with the divestiture of its Touch Solutions and TE Professional Services businesses. The financial statements reflect ongoing efforts to manage costs and streamline operations, with substantial restructuring charges noted. Investors should monitor the integration of the Deutsch acquisition and the completion of the divestitures, as well as the ongoing tax matters, which continue to present some uncertainty.

    Apr 30, 2012
  45. 2012-Q1

    TE Connectivity plc Quarterly Report for Q1 Ended Dec 30, 2011

    TE Connectivity Ltd. reported its financial results for the first quarter of fiscal year 2012, ending December 30, 2011. Net sales increased by 3.4% year-over-year to $3.31 billion, driven by the acquisition of ADC Telecommunications and growth in the automotive and aerospace sectors. However, organic net sales saw a slight decline of 2.6%, indicating some underlying market softness, particularly in the Communications and Industrial Solutions segment. The company announced its intention to acquire Deutsch Group SAS for approximately $2.0 billion, a significant strategic move expected to close by the third quarter of fiscal 2012. While the acquisition is pending, the company incurred $4 million in related costs during the quarter. Operating income decreased slightly to $378 million from $400 million in the prior year's quarter, impacted by higher material costs, lower volumes in certain segments, and ongoing restructuring charges, though offset by improved manufacturing productivity and cost synergies from the ADC acquisition. The company reiterated its full-year fiscal 2012 outlook for net sales and diluted earnings per share, signaling confidence in its strategic direction despite macroeconomic uncertainties.

    Jan 27, 2012
  46. 2011-Q3

    TE Connectivity plc Quarterly Report for Q3 Ended Jun 24, 2011

    TE Connectivity Ltd. (TEL) reported a significant increase in net sales for the third quarter and the first nine months of fiscal year 2011, driven by organic growth across its segments and contributions from the acquisition of ADC Telecommunications. Net sales rose by 20.9% in the third quarter and 16.4% year-to-date. The company experienced strong performance in its Transportation Solutions and Network Solutions segments, with Network Solutions benefiting significantly from the ADC acquisition. Despite increased sales, gross margin as a percentage of net sales saw a slight decrease due to rising material costs, price erosion, and the impact of the earthquake in Japan. However, operating income saw an increase year-over-year, supported by higher sales volumes and cost management efforts. The company also reiterated its full-year 2011 outlook, projecting net sales between $14.3 billion and $14.4 billion and diluted earnings per share from continuing operations between $2.83 and $2.87.

    Jul 22, 2011
  47. 2011-Q2

    TE Connectivity plc Quarterly Report for Q2 Ended Mar 25, 2011

    TE Connectivity Ltd. (TEL) reported its financial results for the quarterly period ending March 25, 2011. The company saw a significant increase in net sales, driven by organic growth and the recent acquisition of ADC Telecommunications, Inc. Despite some cost pressures like increased material costs and price erosion, operating income saw a modest increase year-over-year. The company also provided an optimistic outlook for the full fiscal year, projecting solid sales growth and earnings per share, though it acknowledged potential impacts from the Japan earthquake and tsunami. Key developments include the company's name change from Tyco Electronics Ltd. to TE Connectivity Ltd. and the ongoing integration of ADC, which is expected to yield cost savings. Management highlighted improvements in key end markets such as automotive and industrial, while noting some softness in consumer-focused segments. The company continued its share repurchase program and declared dividends, demonstrating a commitment to returning capital to shareholders.

    Apr 26, 2011
  48. 2011-Q1

    TE Connectivity plc Quarterly Report for Q1 Ended Dec 24, 2010

    TE Connectivity plc (TEL) reported strong performance for the quarter ending December 24, 2010, driven by a significant increase in net sales, up 10.7% year-over-year to $3.2 billion. This growth was fueled by a recovery in key end markets like automotive and improved demand in industrial and infrastructure sectors. The company also completed a significant acquisition of ADC Telecommunications for approximately $717 million, which is expected to enhance its position in the broadband connectivity market. Profitability saw a substantial boost, with operating income rising to $400 million from $269 million in the prior year's quarter. This improvement was driven by higher sales, improved gross margins due to higher volumes and manufacturing productivity, and a reduction in restructuring charges compared to the previous year. The company provided a positive outlook, expecting continued sales growth and earnings per share in the upper range of its guidance for the full fiscal year.

    Jan 24, 2011
  49. 2010-Q3

    TE Connectivity plc Quarterly Report for Q3 Ended Jun 25, 2010

    TE Connectivity plc (TEL) reported strong financial performance for the quarter ending June 25, 2010, with net sales increasing by 23% year-over-year to $3.08 billion. This growth was driven by a significant rebound in the Electronic Components segment, which saw a 45.6% increase in net sales, benefiting from recovery in key end markets like automotive and consumer electronics. The company also demonstrated improved profitability, with operating income more than doubling compared to the prior year's quarter, reflecting benefits from ongoing restructuring efforts and higher sales volumes. Financially, the company maintained a solid liquidity position, with cash and cash equivalents increasing to $1.815 billion. TE Connectivity also announced a significant strategic move, entering into an agreement to acquire ADC Telecommunications for approximately $1.25 billion, signaling a proactive approach to growth and market expansion. The report also detailed the correction of certain immaterial tax accounting errors from prior periods, which were adjusted in the current quarter without materially impacting prior financial statements.

    Jul 23, 2010
  50. 2010-Q2

    TE Connectivity plc Quarterly Report for Q2 Ended Mar 26, 2010

    TE Connectivity plc (TEL) reported a significant turnaround in its financial performance for the quarter ending March 26, 2010, compared to the prior year period. Net sales surged by 26.5% year-over-year, indicating a strong recovery in demand across its key segments, particularly Electronic Components. This revenue growth, combined with effective cost management and benefits from restructuring initiatives, led to a substantial increase in operating income, shifting from a significant loss in the prior year to a healthy profit. Key drivers of this improvement include robust organic sales growth, especially in the automotive sector, and positive impacts from foreign currency exchange rates. The company also demonstrated improved gross margins and managed selling, general, and administrative expenses effectively. While the Subsea Communications segment experienced a decline in sales due to project completion, the overall financial picture reflects a company benefiting from recovering end markets and successful operational adjustments. Investors should note the company's strategic acquisition of Sensitive Object and its ongoing manufacturing simplification plans as indicators of future growth initiatives.

    Apr 29, 2010