Teledyne Tech Stock Price, News & Analysis

Teledyne Technologies (NYSE:TDY) has completed the acquisition of select aerospace and defense electronics businesses from Excelitas Technologies for approximately $710 million. The acquisition includes the Qioptiq® optical systems business in Northern Wales, UK, and a U.S.-based advanced electronic systems business.

The UK operation specializes in advanced optics for heads-up and helmet-mounted displays, tactical night vision systems, and proprietary glass for space applications. The U.S. business provides custom energetics, electronic safe & arm devices, high-voltage semiconductor switches, and rubidium frequency standards for defense and space applications.

The acquired businesses will be integrated into Teledyne's Aerospace and Defense Electronics segment under the name Teledyne Qioptiq. This marks Teledyne's tenth corporate carve-out transaction.

Teledyne Technologies (NYSE:TDY) reported record quarterly sales of $1,502.3 million in Q4 2024, up 5.4% year-over-year. The company achieved Q4 GAAP diluted EPS of $4.20 and record non-GAAP EPS of $5.52. Full-year 2024 results included GAAP EPS of $17.21 and record non-GAAP EPS of $19.73.

The company generated record full-year cash from operations of $1,191.9 million and free cash flow of $1,108.2 million. Teledyne deployed $1.1 billion for debt repayments, stock repurchases, and acquisitions in 2024. The company completed the acquisition of Micropac Industries on December 30, 2024, and announced pending acquisition of select aerospace and defense electronics businesses from Excelitas Technologies.

For 2025, Teledyne issued guidance of GAAP EPS between $17.70-$18.20 and non-GAAP EPS of $21.10-$21.50, including Micropac but excluding Excelitas. The company expects to deploy approximately $770 million on acquisitions in Q1 2025.

Teledyne Technologies (NYSE:TDY) has announced its upcoming fourth quarter and full year 2024 earnings conference call, scheduled for Wednesday, January 22, 2025, at 8:00 a.m. Pacific. The company will release its financial results press release before the NYSE opening on the same day.

Investors can access the call through Teledyne's investor relations website approximately ten minutes before the start time. A replay of the call will be available for about one month starting at 11:00 a.m. Pacific on January 22, 2025.

Teledyne Technologies specializes in sophisticated digital imaging products and software, instrumentation, aerospace and defense electronics, and engineered systems, with operations primarily in the United States, Canada, the United Kingdom, and Western and Northern Europe.

Teledyne FLIR Defense has secured a five-year IDIQ contract worth $74.2 million from the U.S. Coast Guard to provide modernized imaging surveillance systems. The company will deliver over 125 Electro-Optic Sensor System-Modernized (ESS-M) systems for USCG's MH-60 and MH-65 rotary wing aircraft.

The ESS-M platform features full-HD sensors, updated user interfaces, and advanced processing capabilities. These systems will provide high-definition daylight, low light, and infrared imagery supporting various Coast Guard missions, particularly search and rescue, living marine resources, and law enforcement. Additional applications include coastal security, drug and migrant interdiction, and ports protection.

Deliveries are scheduled to begin in Q4-2025. Teledyne FLIR Defense has been supporting USCG with legacy ESS systems since 2005.

Teledyne Technologies (NYSE:TDY) has successfully completed the acquisition of Micropac Industries (OTC:MPAD) through an all-cash transaction valued at approximately $57.3 million, including Micropac's net debt as of August 24, 2024. Under the merger agreement, Micropac stockholders received $20.00 per share in cash.

Micropac, established in 1963, specializes in designing and manufacturing microelectronic circuits, optoelectronic components, and sensor and display assemblies, primarily serving military, aerospace, and medical sectors. The company will maintain its brand name and continue operations from its new facility in Garland, Texas, while leveraging Teledyne's market reach and technical capabilities.

Teledyne FLIR OEM and VSI Labs conducted tests on pedestrian automatic emergency braking (PAEB) systems using the new Federal Motor Vehicle Safety Standard (FMVSS) No. 127 scenarios. Their thermal-fused PAEB system, featuring Teledyne FLIR's longwave infrared camera, successfully passed all tests, while three new 2024 vehicles failed multiple nighttime scenarios.

The FMVSS No. 127 will require PAEB systems in all passenger vehicles under 10,000 pounds by September 2029. This regulation is particularly important as 77.7% of pedestrian fatalities occurred at night in 2022. The thermal-fused system demonstrated superior nighttime detection capabilities independent of headlight performance, suggesting thermal cameras could be a cost-effective solution for manufacturers to meet the new safety standards.

Teledyne Technologies (NYSE: TDY) has announced its participation in upcoming investor conferences. Jason VanWees, Vice Chairman, will represent the company at the Goldman Sachs Industrials and Materials Conference in New York City on December 4, 2024, and at the UBS Global Industrials and Transportation Conference in Palm Beach, Florida, on December 5, 2024.

Teledyne is a leading provider of digital imaging products, software, instrumentation, aerospace and defense electronics, and engineered systems, operating primarily in the U.S., Canada, the U.K., and Europe. The latest investor presentation is available at www.teledyne.com/investors/events-and-presentations.

FLIR, a Teledyne Technologies company (NYSE:TDY), has launched the FLIR Scout Pro, a next-generation thermal monocular designed for law enforcement and public safety professionals. The device features a 32-degree field of view with human detection capability up to 500 meters, and a 640 × 480 thermal resolution. Key features include 2-8x zoom capabilities, IP67 water resistance rating, and over six hours of battery life. The Scout Pro includes a redesigned interface, wireless remote observation through a mobile app, and can withstand a 2-meter drop. The product comes with a two-year warranty, extendable by three years upon registration, and is available for pre-order.

Teledyne DALSA has introduced Z-Trak™ 3D Apps Studio, a software suite for in-line 3D machine vision applications. The software works with Teledyne's Z-Trak laser profilers and is designed for dimensional measurement and inspection tasks in production lines. Key features include tools for measuring object thickness, inspecting glue-beads, weld seams, and identifying defects on various surfaces. The software supports multiple industries including EV batteries, automotive, electronics, semiconductors, and packaging. It offers simultaneous acquisition and analysis of 3D scans and 2D grayscale images, with integration through Sherlock 8.30 development environment.