TE Connectivity: Fiscal 1Q Earnings Snapshot

January 29, 2020 GMT

SCHAFFHAUSEN, Switzerland (AP) _ TE Connectivity Ltd. (TEL) on Wednesday reported fiscal first-quarter profit of $26 million.

On a per-share basis, the Schaffhausen, Switzerland-based company said it had net income of 8 cents. Earnings, adjusted for one-time gains and costs, came to $1.21 per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.

The electronics maker posted revenue of $3.17 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $3.11 billion.

For the current quarter ending in April, TE Connectivity expects its per-share earnings to range from $1.22 to $1.28.

The company said it expects revenue in the range of $3.1 billion to $3.3 billion for the fiscal second quarter.

TE Connectivity expects full-year earnings in the range of $4.95 to $5.25 per share, with revenue ranging from $12.85 billion to $13.25 billion.

TE Connectivity shares have climbed slightly more than 2% since the beginning of the year, while the Standard & Poor’s 500 index has increased slightly more than 1%. The stock has increased 23% in the last 12 months.


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