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TE Connectivity: Fiscal 3Q Earnings Snapshot

July 24, 2019

SCHAFFHAUSEN, Switzerland (AP) _ TE Connectivity Ltd. (TEL) on Wednesday reported fiscal third-quarter earnings of $757 million.

The Schaffhausen, Switzerland-based company said it had net income of $2.23 per share. Earnings, adjusted for one-time gains and costs, were $1.50 per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.

The electronics maker posted revenue of $3.39 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $3.42 billion.

For the current quarter ending in September, TE Connectivity expects its per-share earnings to range from $1.27 to $1.33.

The company said it expects revenue in the range of $3.2 billion to $3.3 billion for the fiscal fourth quarter.

TE Connectivity expects full-year earnings in the range of $5.47 to $5.53 per share, with revenue ranging from $13.35 billion to $13.45 billion.

TE Connectivity shares have increased 21% since the beginning of the year, while the Standard & Poor’s 500 index has risen 20%. The stock has declined 0.5% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TEL at https://www.zacks.com/ap/TEL

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