Teledyne Narrows 2024 Non-GAAP EPS Outlook - Update

Teledyne Technologies

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Teledyne Technologies Incorporated (TDY) said it expects fourth quarter GAAP earnings per share will be in the range of $4.27 to $4.41. The company projects fourth quarter non GAAP earnings per share will be in the range of $5.13 to $5.23.

Teledyne Technologies expects full year 2024 GAAP earnings per share will be in the range of $17.28 to $17.42, revised from prior prior outlook of $15.87 to $16.13. Full year 2024 non-GAAP earnings per share is now projected in the range of $19.35 to $19.45, narrowed from previous guidance range of $19.25 to $19.45.

Q3 Results:

Third quarter bottom line totaled $262.0 million, or $5.54 per share. This compares with $198.6 million, or $4.15 per share, in last year's third quarter. Adjusted earnings per share was $5.10 compared to $5.05. Analysts on average had expected the company to earn $4.97 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. The company's revenue for the quarter rose 2.9% to $1.44 billion from $1.40 billion last year.

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