AP NEWS

TE Connectivity: Fiscal 4Q Earnings Snapshot

October 30, 2019

SCHAFFHAUSEN, Switzerland (AP) _ TE Connectivity Ltd. (TEL) on Wednesday reported fiscal fourth-quarter net income of $372 million.

The Schaffhausen, Switzerland-based company said it had net income of $1.10 per share. Earnings, adjusted for one-time gains and costs, came to $1.33 per share.

The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.31 per share.

The electronics maker posted revenue of $3.3 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $3.27 billion.

For the year, the company reported profit of $1.84 billion, or $5.42 per share. Revenue was reported as $13.45 billion.

For the current quarter ending in January, TE Connectivity expects its per-share earnings to range from $1.10 to $1.16.

The company said it expects revenue in the range of $3 billion to $3.2 billion for the fiscal first quarter.

TE Connectivity expects full-year earnings in the range of $4.85 to $5.25 per share, with revenue ranging from $12.7 billion to $13.3 billion.

TE Connectivity shares have increased 25% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 21%. The stock has climbed 25% 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