Teledyne Technologies (TDY) Tops Q2 EPS by 42c; Raises Outlook

Teledyne Technologies (NYSE: TDY) reported Q2 EPS of $1.66, $0.42 better than the analyst estimate of $1.24. Revenue for the quarter came in at $671.1 million versus the consensus estimate of $636.18 million.

GUIDANCE:

Teledyne Technologies sees FY2017 EPS of $6.15-$6.25, versus the consensus of $5.27.

• Record sales of $671.1 million
• Record GAAP earnings per diluted share of $1.66
• Results include pretax charges of $4.0 million ($0.08 per share) related to the e2v acquisition, offset by net discrete tax benefits of $4.6 million ($0.13 per share)
• Raising full year 2017 GAAP earnings outlook to $5.60 to $5.70, an increase from the prior outlook of $5.20 to $5.30
• Raising full year 2017 adjusted earnings outlook to $6.15 to $6.25, an increase from the prior outlook of $5.76 to $5.86 per diluted share. Adjusted earnings, a non-GAAP measure, exclude estimated non-recurring charges of $0.55 per diluted share related to the e2v acquisition
• Recently acquired assets of Scientific Systems, Inc. (“SSI”)

For earnings history and earnings-related data on Teledyne Technologies (TDY) click here.

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