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Last $68.07 USD
Change Today +1.52 / 2.28%
Volume 1.6M
TEL On Other Exchanges
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As of 8:04 PM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).

te connectivity ltd (TEL) Key Developments

TE Connectivity Ltd. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended March 27, 2015; Provides Earnings Guidance for the Third Quarter and Full Year of Fiscal 2015

TE Connectivity Ltd. reported unaudited consolidated earnings results for the second quarter and six months ended March 27, 2015. Net sales increased to $3.1 billion, up 4% versus the prior year and up 6% organically. Adjusted earnings per share from continuing operations were $0.91, up 6% versus the prior year. Free cash flow of $217 million; returned $261 million to shareholders. Operating income was $448 million against $471 million a year ago. Income from continuing operations before income taxes was $410 million against $460 million a year ago. Income from continuing operations was $316 million or $0.77 diluted per share against $340 million or $0.82 diluted per share a year ago. Net income attributable to TE Connectivity Ltd. was $599 million or $1.45 diluted per share against $362 million or $0.87 diluted per share a year ago. Net cash provided by operating activities was $398 million against $449 million a year ago. Capital expenditures were $156 million against $155 million a year ago. Acquisition of businesses, net of cash acquired was $218 million against $18 million a year ago. On adjusted (non-GAAP) basis, for the quarter, the company reported total operating income was $506 million against $471 million a year ago. Income from continuing operations attributable to TE Connectivity Ltd. was $376 million or $0.91 diluted per share against $359 million or $0.86 diluted per share a year ago. For the six-month period, the company reported net sales were $6,131 million against $5,826 million a year ago. Operating income was $873 million against $890 million a year ago. Income from continuing operations before income taxes was $736 million against $882 million a year ago. Income from continuing operations was $751 million or $1.82 diluted per share against $653 million or $1.57 diluted per share a year ago. Net income attributable to TE Connectivity Ltd. was $1,071 million or $2.59 diluted per share against $715 million or $1.71 diluted per share a year ago. Net cash provided by operating activities was $693 million against $834 million a year ago. Capital expenditures were $291 million against $281 million a year ago. Acquisition of businesses, net of cash acquired was $1,729 million against $18 million a year ago. On adjusted (non-GAAP) basis, for the six-month period, the company reported total operating income was $1,007 million against $896 million a year ago. Income from continuing operations attributable to TE Connectivity Ltd. was $744 million or $1.80 diluted per share against $659 million or $1.58 diluted per share a year ago. For the fiscal third quarter 2015, the company expects net sales of $3.13 billion to $3.23 billion, reflecting 3% year over year growth at the mid-point, and adjusted EPS of $0.85 to $0.89. GAAP EPS are expected to be $0.80 to $0.84, including acquisition related charges of $0.04, and restructuring and other charges of $0.01. This outlook includes foreign exchange headwinds, reducing expected sales by $330 million and adjusted EPS by $0.13. For the full year, the company expects net sales of $12.35 to $12.65 billion, reflecting 4% growth versus prior year at the mid-point; and adjusted EPS of $3.60 to $3.74 reflecting double-digit growth versus the prior year. GAAP EPS are expected to be $3.51 to $3.65, including acquisition related charges of $0.22, restructuring and other charges of $0.18, and income from tax related items of $0.31. The outlook includes foreign exchange headwinds, reducing expected sales by $1.01 billion and adjusted EPS by $0.38.

TE Connectivity Seeks Acquisitions

Tom Lynch, Chairman and Chief Executive Officer TE Connectivity Ltd. (NYSE:TEL) said in the second quarter earnings call 2015, "Our goal is to continue to identify the best fits and if we can get them at a price that works to make acquisitions."

Fuller Apartment Homes Offers $25 per Month Gigabit Internet Access with TE Connectivity's Passive Optical LAN

TE Connectivity has teamed up with Qypsys and Zhone Technologies to deploy TE's Optical LAN Solution for residential high-speed Internet access at Park Square at Seven Oaks. This newly completed 224-unit upscale apartment development in Bakersfield, Calif. offers an innovative, micro-community based broadband model, where residents pay a flat monthly fee of $25, without the hassles of signing up for service, waiting for an installer or committing to long-term contracts.

TE Connectivity Ltd. to Report Q2, 2015 Results on Apr 22, 2015

TE Connectivity Ltd. announced that they will report Q2, 2015 results at 9:00 AM, W. Europe Standard Time on Apr 22, 2015

TE Connectivity Ltd., Q2 2015 Earnings Call, Apr 22, 2015

TE Connectivity Ltd., Q2 2015 Earnings Call, Apr 22, 2015

 

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Industry Analysis

TEL

Industry Average

Valuation TEL Industry Range
Price/Earnings 15.0x
Price/Sales 1.9x
Price/Book 3.1x
Price/Cash Flow 13.0x
TEV/Sales 1.6x
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