Teledyne Q1 non-GAAP EPS $4.55 record; slashes FY 2024 guidance; $1.25B buyback

TELEDYNE TECHNOLOGIES INC

2024-Q1 EPS reported $3.72 revenue$1,350,100,000

Q1 GAAP EPS $3.72 vs $3.73 YoY; non-GAAP EPS $4.55 (record Q1) vs $4.53; revenue $1,350.1M (-2.4% YoY).
Full-year GAAP EPS guidance cut to $16.02-$16.27 from prior $17.15-$17.53; non-GAAP to $19.25-$19.45 from $20.35-$20.68.
Weakness in short-cycle imaging and instrumentation (industrial automation, test & measurement) drove guidance reduction.
New $1.25B stock repurchase authorization; plans ~$250-300M in near-term buybacks.
Record Q1 free cash flow $275.1M; completed Valeport acquisition; pending Adimec acquisition.

item 2.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TELEDYNE TECHNOLOGIES INC reported first quarter 2024 results: revenue $1,350.1 million, net income $178.5 million ($3.72 diluted earnings per share). Guidance lowered.

Period: first quarter 2024
Revenue: $1,350.1 million
Net income: $178.5 million ($3.72 diluted earnings per share)
Guidance: lowered
Result: reported results

Exact text from the filing

Teledyne today reported first quarter 2024 net sales of $1,350.1 million, compared with net sales of $1,383.3 million for the first quarter of 2023, a decrease of 2.4%. Net income attributable to Teledyne was $178.5 million ($3.72 diluted earnings per share) for the first quarter of 2024, compared with $178.7 million ($3.73 diluted earnings per share) for the first quarter of 2023, a decrease of 0.1%.

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Source: SEC EDGAR

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