earnings
confidence high
sentiment positive
materiality 0.80
Teledyne posts record Q1 revenue of $1.32B, adjusted EPS $4.27; lifts FY22 GAAP EPS outlook to $15.34-$15.66
TELEDYNE TECHNOLOGIES INC
2022-Q1 EPS reported
$4.46
revenue$1,321,000,000
- Record Q1 sales $1,321M (+64% YoY); GAAP diluted EPS $4.46 vs $2.23; non-GAAP EPS $4.27 vs $3.19.
- FY22 GAAP EPS outlook raised to $15.34-$15.66 from $14.10-$14.55; non-GAAP outlook narrowed to $17.75-$18.00.
- Digital Imaging segment sales $750.5M (+185%), including $452.6M from FLIR acquisition; operating margin improved.
- Cash used in ops $216.7M due to $296.4M payment to Swedish Tax Authority related to FLIR; adjusted free cash flow $58.7M.
- Effective tax rate negative 4.7% reflecting $50M net discrete tax benefit from resolution of FLIR tax reserves.