GALWAY, Ireland – TE Connectivity Ltd (NYSE:) reported fourth-quarter fiscal 2024 results that surpassed analyst expectations, with adjusted earnings per share (EPS) reaching a record $1.95, beating estimates by $0.01. The company also announced a $2.5 billion increase to its share repurchase program.
The connectivity and sensor solutions provider posted revenue of $4.1 billion for the quarter ended September 27, 2024, exceeding the consensus estimate of $4 billion. This represents a 1% increase on a reported basis and 2% organically compared to the same period last year.
TE Connectivity’s adjusted operating margin hit a fourth-quarter record of 18.6%, driven by strong operational performance. The company generated approximately $1 billion in cash flow from operating activities and $833 million in free cash flow during the quarter.
CEO Terrence Curtin commented, “Our team finished the fiscal year strong, delivering quarterly sales that were above guidance and a record $1.95 adjusted EPS. For the full year, we set records in key areas including EPS, cash generation and operating margins, delivering on our commitment to expand margins in a dynamic market environment.”
Looking ahead, TE Connectivity provided guidance for the first quarter of fiscal 2025, projecting revenue of approximately $3.9 billion and adjusted EPS of $1.88. These figures are slightly below the analyst consensus of $3.94 billion in revenue and $1.90 in EPS.
The company’s board of directors authorized a $2.5 billion increase in its share repurchase program, reinforcing its commitment to returning value to shareholders.
TE Connectivity’s stock movement following the earnings release was not provided.
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