Sensata Technologies Holding plc reports recurring developments for a global industrial technology business that supplies mission-critical sensors, electrical protection components and sensor-rich solutions. Its news commonly covers financial results, dividend approvals, reporting-segment changes and business performance across automotive, heavy vehicle and off-road, industrial, aerospace, defense and commercial equipment markets.
Company updates also include product launches tied to electrification and high-voltage protection, such as FaultBreak contactors and the STEV high-voltage contactor series for battery electric and plug-in hybrid vehicles. Other recurring themes include operational restructuring, free cash flow, balance sheet actions and customer demand in transportation and industrial end markets.
Sensata Technologies (NYSE: ST) announced plans to offer $500 million in senior notes through its subsidiary, Sensata Technologies B.V. The offering will be exempt from registration under the Securities Act. The notes will be guaranteed by the Issuer's wholly owned subsidiaries and will rank equally with existing senior indebtedness. Proceeds will be used to redeem existing 4.875% senior notes due 2023. The offering is aimed at qualified institutional buyers and non-U.S. persons. This press release serves informational purposes and does not constitute an offer to sell the notes.
Sensata Technologies (NYSE: ST) reported record revenue of $1,020.5 million for Q2 2022, a 2.8% increase from Q2 2021. Despite market challenges, organic revenue growth outpaced market trends by 650 basis points. Operating income fell by 15.7% to $138.9 million, while earnings per share dropped 69% to $0.22. Adjusted EPS was $0.83, down 12.6%. The company issued guidance for Q3 2022 revenue between $980 to $1,020 million and adjusted EPS of $0.81 to $0.89. Sensata also repurchased shares and announced a quarterly dividend of $0.11 per share.
Sensata Technologies (NYSE: ST) has announced a quarterly dividend of $0.11 per share, set to be paid on August 24, 2022. This payment is designated for shareholders recorded as of August 10, 2022. The company remains committed to delivering value through its extensive range of sensor-rich solutions aimed at enhancing efficiency and connectivity in various sectors including automotive and aerospace.
Sensata Technologies (NYSE: ST) has developed a new fly-by-wire inceptor for electric vertical take-off and landing (eVTOL) aircraft, supplying prototypes to several advanced air mobility manufacturers.
The company will showcase this innovation at the Farnborough International Airshow from July 18-22, located in Hall 4, Booth 4138 in the United Kingdom.
Sensata Technologies (NYSE: ST) has successfully acquired Dynapower Company LLC for $580 million in cash. Dynapower specializes in energy storage and power conversion solutions, essential for renewable energy generation, electric vehicle charging, and industrial applications. This acquisition strengthens Sensata's portfolio, enhancing its capabilities in mission-critical power solutions for fast-growing sectors. CEO Jeff Cote highlights the strategic importance of Dynapower in accelerating their Electrification growth vector, while Dynapower’s CEO Adam Knudsen emphasizes the potential for driving innovation in clean energy.
Sensata Technologies (NYSE: ST) will release its Q2 2022 financial results on July 26, 2022, at 6:00 a.m. ET. A conference call to discuss the results will follow at 8:00 a.m. ET, accessible via telephone or webcast. Investors can listen to the call by dialing 1-844-784-1726 or 1-412-380-7411, with a replay available until August 2, 2022. Sensata is a global industrial technology company focused on creating efficient, electrified solutions across markets such as automotive and aerospace.
Sensata Technologies (NYSE: ST) has divested its Qinex semiconductor thermal test and control business to Boyd Corporation for $219 million. This transaction includes a minor secondary closing. The Qinex business, which specializes in semiconductor burn-in test sockets, had been operating predominantly as a standalone entity within Sensata’s Industrials segment. Following the sale, Sensata will manufacture Qinex products for Boyd under a contract for 6 to 12 months. This divestiture aligns with Sensata’s growth strategy, allowing for enhanced focus on Electrification and IoT initiatives.
Boyd, a leader in engineered materials and thermal management, has acquired Sensata’s Thermal Test and Controls Business (NYSE:ST). This acquisition enhances Boyd's portfolio by incorporating advanced thermal control systems crucial for high-end semiconductors. It strengthens Boyd's existing thermal solutions for sectors like 5G, AI, and data centers. The business will operate under the Boyd brand and is expected to boost Boyd's presence in the semiconductor industry. While the acquisition is complete in most regions, approval in Korea is still pending.
Sensata Technologies (NYSE: ST) announced the development of its new Bluetooth Low Energy (BLE) Tire Pressure Monitoring System (TPMS) aimed at enhancing vehicle safety and performance. This innovative system, launching with a leading North American vehicle manufacturer in the first half of 2023, replaces traditional ultra-high frequency radios with BLE technology for two-way communication. The BLE TPMS not only improves user experience with over-the-air updates but also strengthens cybersecurity measures, making it an appealing option in the evolving automotive market.
Sensata Technologies (NYSE: ST) has introduced a new asset monitoring solution designed to enhance predictive maintenance for rotary assets. This solution integrates advanced AI capabilities from Nanoprecise with the Sensata IQ platform to deliver actionable insights. The wireless 6VW multi-modal IoT sensor is easy to install, allowing plant managers to detect early-stage faults and prolong the lifespan of rotary machines. With capabilities to monitor multiple modalities, the sensor aims to reduce unplanned downtime and improve productivity across various industrial applications.