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) reported fourth quarter revenue of $906.5 million, a 7.1% increase from $846.7 million in Q4 2019. Operating income reached $154.2 million, up 27.7% year-over-year. However, full-year revenue fell by 11.7% to $3,045.6 million compared to 2019. Earnings per share for Q4 rose to $0.77, a 126.5% increase from Q4 2019. Guidance for Q1 2021 is between $875 million and $915 million in revenue, and adjusted EPS of $0.67 to $0.77. The company also generated a record free cash flow of $240 million in Q4.
Sensata Technologies (NYSE: ST) announced the full acquisition of Denmark-based Battery Management System (BMS) provider, Lithium Balance. This acquisition enhances Sensata's electrification strategy and expands its offerings in clean energy markets. Lithium Balance, founded in 2006, specializes in next-generation BMS technologies for lithium-ion batteries. The deal is expected to strengthen Sensata's relationships with original equipment manufacturers (OEMs) and further propel its battery management solutions for industrial applications.
Sensata Technologies (NYSE:ST) updated its fourth quarter 2020 revenue guidance, anticipating earnings between $902 million and $907 million, up from prior estimates of $810 million to $850 million. This revision reflects increased business activity in the Automotive and Industrial sectors. CEO Jeff Cote highlighted higher orders and deliveries than expected. The company will report its full-year results on February 2, 2021, followed by a conference call at 8:00 a.m. Eastern Time.
Sensata Technologies (NYSE: ST) has appointed Daniel L. Black to its Board of Directors, enhancing the board's expertise in finance and corporate governance. Black is a Managing Partner at The Wicks Group and brings extensive experience from his 21-year tenure at BNY Capital Markets. He will serve on several board committees, contributing to the company's strategy. Additionally, Thomas Wroe will retire as a board member after over a decade of service, aligning with planned succession. This transition aims to strengthen shareholder value and ensure strategic continuity.
Sensata Technologies (NYSE: ST) announced its Q3 2020 results, reporting revenue of $788.3 million, down 7.2% from $849.7 million in Q3 2019, but up 36.7% from Q2 2020. Operating income decreased to $126.8 million (16.1% of revenue) from $146.1 million (17.2% of revenue) year-over-year. EPS rose to $0.49, an 11.4% increase from $0.44 in Q3 2019. Adjusted EPS was $0.66, down 26.7% year-over-year. Sensata projects Q4 revenue between $810-$850 million and adjusted EPS of $0.64-$0.72. Cost-saving measures are expected to yield $60-$65 million in 2021.
Sensata Technologies (NYSE: ST) announced it will disclose its Q3 2020 financial results on October 27, 2020, at 6:00 a.m. ET. A live conference call and webcast will follow at 8:00 a.m. ET to discuss the results and business trends. Investors can access the call via telephone or through the company's investor relations webpage. Sensata, a leader in sensing and power management solutions, operates in 11 countries, delivering products across various applications including automotive and industrial sectors.
Sensata Technologies announced the pricing of $750 million in 3.750% senior notes due 2031, set to close on August 17, 2020. The notes are guaranteed on a senior unsecured basis by Sensata Technologies B.V. and its wholly-owned subsidiaries, ranking equally with existing senior unsecured indebtedness. Proceeds will be used to repay approximately $400 million in revolving borrowings, cover fees related to the offering, and for general corporate purposes, including potential redemption of 6.250% senior notes due 2026. This offering is made to qualified institutional buyers and non-U.S. persons only.
Sensata Technologies plans to offer $750 million in senior notes due 2031, exempt from Securities Act registration. The notes will be guaranteed by Sensata Technologies B.V. and its subsidiaries. Proceeds will repay approximately $400 million of revolving borrowings, cover fees related to the offering, and for general corporate purposes. The offering targets qualified institutional buyers and non-U.S. persons outside the U.S. The announcement emphasizes an effort to enhance financial flexibility, while also noting the offering is subject to market conditions and certain risks.
Sensata Technologies (NYSE: ST) reported financial results for Q2 2020, revealing a revenue decline of 34.8% to $576.5 million from $883.7 million in Q2 2019. The company experienced an operating loss of $1.9 million, contrasting with an operating income of $147.4 million in the previous year. Loss per share was $(0.27), down from earnings of $0.45 in Q2 2019. Despite challenges, Sensata secured over $225 million in new business awards and achieved free cash flow of $114 million. The company withdrew its financial guidance for 2020 amid COVID-19 uncertainties but forecasts Q3 revenue between $675-$705 million.
Sensata Technologies (NYSE: ST) will release its Q2 2020 financial results on July 28, 2020, at 6:00 a.m. ET. A live conference call and webcast will follow at 8:00 a.m. ET to discuss the results and business trends. Interested investors can access the call by dialing 1-844-784-1726 or 1-412-380-7411. A replay will be available until August 4, 2020. Sensata offers a wide range of solutions for various applications, improving safety and efficiency globally.