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Sensata Technologies (ST) delivers mission-critical sensing and electrical protection solutions across automotive, industrial, and aerospace sectors. This dedicated news hub provides investors and industry professionals with comprehensive coverage of corporate developments directly impacting market positioning and technological leadership.
Access real-time updates including quarterly earnings disclosures, product innovation announcements, strategic partnerships, and regulatory compliance milestones. Our curated feed ensures you stay informed about sensor technology advancements and power management solutions that drive safety and efficiency in global industries.
Key updates feature engineering breakthroughs, manufacturing expansions, and sustainability initiatives that underscore Sensata's role in enabling smarter, cleaner technologies. Content spans operational updates from all served markets, including heavy vehicle electrification progress and aerospace safety system enhancements.
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Sensata Technologies Holding, listed on NYSE as ST, has announced that its subsidiary, Sensata Technologies B.V., will redeem all $700 million of its 5.000% Senior Notes due 2025. The redemption is set for July 15, 2024, at a price equal to 100% of the principal amount plus an applicable premium and accrued interest up to the redemption date. The notice of redemption will be issued by The Bank of New York Mellon, the trustee for the notes. This action aims to settle the outstanding debt within the specified timeline.
Sensata Technologies Holding announced that its subsidiary, Sensata Technologies, Inc., plans to offer $500 million in senior notes in a private offering exempt from registration under the Securities Act of 1933. These notes will be guaranteed on a senior unsecured basis by Sensata Technologies B.V. and its wholly-owned subsidiaries. The notes rank equally with the issuer's existing senior debt but are junior to secured debt. Proceeds will be used, along with cash on hand, to redeem Sensata Technologies B.V.’s 5.000% senior notes due October 2025, expected in July 2024. The offering targets qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. This announcement does not constitute an offer to sell the notes in any jurisdiction where such an offer is unlawful.
Sensata Technologies (NYSE: ST) held its annual Day of Service in the US on May 9, 2024, engaging nearly 550 employees in 36 service projects with 28 nonprofits. This initiative, part of the Sensata Serves volunteer program, encourages community involvement and celebrates volunteerism. Employees participated in various activities, including packing food, assembling STEM kits, sorting books, and conducting cleaning and landscaping projects. In 2023, 45% of US employees volunteered over 6,500 hours. Sensata's philanthropic arm, Sensata Foundation, helps create service projects, fostering strong community relationships.
Sensata Technologies' GigaFuse for Battery Electric Vehicles (BEVs) has won the 2024 Automotive News PACE Award, recognizing its innovation and contribution to safety and energy management. The GigaFuse addresses critical protection challenges, enhances architecture flexibility for OEMs, and helps reduce development time for automotive manufacturers to meet emissions targets.
Sensata Technologies Holding plc announced that CEO Jeff Cote will retire and be replaced by Martha Sullivan as interim CEO. Phillip Eyler joins the Board. The company forms a CEO search committee and enters cooperation agreements with Elliott. Martha Sullivan praised for her qualifications, and Phillip Eyler's appointment welcomed. Elliott expresses confidence in Sensata's future value creation. Sensata enters Cooperation and Information Sharing Agreements with Elliott. Sensata positions itself for a bright future in an electrified world.
Sensata Technologies reported solid financial results for the first quarter of 2024, with revenue reaching $1,006.7 million, an increase of 0.9% compared to the first quarter of 2023. The company's adjusted operating margins were at the high end of their guidance range. However, earnings per share decreased by 10.7% to $0.50. Sensata also provided guidance for the second quarter of 2024, expecting revenue of $1,025 to $1,055 million and adjusted EPS of $0.89 to $0.95.
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