TE Connectivity Ltd. (TEL) primarily manufactures and designs products that connect and protect the flow of power and data inside millions of products used by consumers and industries. The company partners with customers in a broad array of industries ranging from consumer electronics, energy, and healthcare to automotive, aerospace and communication networks. The company operates through four segments: Transportation Solutions, Industrial Solutions, Consumer Solutions and Network Solutions.
TE Connectivity remains optimistic regarding its strong foothold in the connectivity and sensors market, especially in relation to harsh environment solutions, in which the company clearly bears a competitive edge over its peers. Strong demand in electronic contents has mainly boosted the market for harsh-environment applications. Also, recovery of the Subcom business continues to be the company’s strength.
Investors should also note the recent earnings estimate revisions for TEL, as the consensus estimate has moved up in the last few months. Also, TEL has a decent history in earnings season, with a positive average earnings surprise of 4.08% in the last four trailing quarters.
Currently, TEL has a Zacks Rank #4 (Hold) but that could change following its strong second quarter fiscal 2015 earnings report which has just released. We have highlighted some of the key details from the announcement below:
Earnings: TEL missed earnings. Adjusted Earnings per share for the quarter came in at 91 cents, missing the Zacks Consensus Estimate of 99 cents.
Revenue: Revenues of $3,082 million came below the Zacks Consensus Estimate of $3,450 million.
Key Stats: After divesting Broadband Network Solutions business, the company intends to report its revenues under three broad heads namely Transportation Solutions, Industrial Solutions and Communications Solutions.
Stock Price: Shares prices did not show any movement in the pre-market trading session.
Check back for our full write up on this TEL earnings report later!
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