Teledyne Tech Stock Price, News & Analysis

Teledyne Technologies (NYSE:TDY) reported strong third quarter 2024 results with all-time record quarterly sales of $1,443.5 million, up 2.9% year-over-year. The company achieved record third quarter GAAP earnings per share of $5.54, a 31.9% increase from $4.15 in 2023. Operating margin remained stable at 18.8%, while non-GAAP operating margin was 22.5%. Cash from operations reached $249.8 million with free cash flow of $228.7 million. The company raised its full-year 2024 GAAP EPS outlook to $17.28-$17.42 and narrowed non-GAAP EPS guidance to $19.35-$19.45. Notable achievements include strong performance in defense, space, and energy businesses, with orders exceeding sales for the fourth consecutive quarter.

Teledyne FLIR Defense, part of Teledyne Technologies Incorporated (NYSE:TDY), has secured a five-year contract worth up to $91 million from the U.S. Army for its Black Hornet® 4 Personal Reconnaissance Systems. This contract falls under the Soldier Borne Sensor (SBS) program, Phase II. The company has already received $25 million in initial orders for the first batch of Black Hornet 4 drones, controllers, spare parts, and training.

The U.S. Army has been acquiring Black Hornet systems since 2018, with orders totaling over $215 million to date. The Black Hornet 4, designed and built in Norway, is a nano-unmanned aerial system (UAS) used by soldiers for squad and small unit surveillance and reconnaissance. It provides situational awareness from protected positions, enhancing soldier safety. Currently, Black Hornet systems are utilized by more than 40 countries worldwide.

Teledyne Technologies (NYSE:TDY) has announced its contribution to NASA's Europa Clipper mission, which launched successfully from Kennedy Space Center. The mission's Mapping Imaging Spectrometer for Europa (MISE) instrument features a Teledyne CHROMA-A focal plane array, customized to measure 421 channels with 10 nm spectral resolution across the short-to-mid-wave infrared range.

This technology will help scientists study Europa's geologic history and assess its ocean's potential habitability. Teledyne and NASA's Jet Propulsion Lab are also developing a fully digital focal plane array (FPA) for future spectrometers, with the new 3072×512 pixel CHROMA-D focal plane array planned for NASA's Surface Biology and Geology Earth Science mission in 2028.

Teledyne FLIR Defense, part of Teledyne Technologies Incorporated (NYSE:TDY), unveils the Cerberus XL C-UAS air domain monitoring and counter-drone platform at the AUSA conference in Washington D.C. This advanced system features:

• High-performance long-range sensors and Counter Unmanned Aerial Systems technology
• Thermal/visual imaging systems, 3D radars, and RF detection
• Ability to detect and track over 500 targets simultaneously
• Non-kinetic effectors for threat defeat up to three kilometers
• Modular design for air, ground, and maritime threats
• Integration with kinetic defeat solutions and AI-enhanced target identification

The system has been battle-proven in Ukraine and is designed for rapid deployment in challenging environments, addressing military force protection, airports, seaports, borders, and critical infrastructure security needs.

Teledyne Technologies Incorporated (NYSE:TDY) has announced its third quarter 2024 earnings webcast details. The company will hold a conference call to discuss the results on Wednesday, October 23, 2024, at 8:00 a.m. Pacific. A press release containing the financial results will be issued before the New York Stock Exchange opens on the same day.

Investors can access the call at www.teledyne.com/investors/events-and-presentations approximately ten minutes before the scheduled start time. A replay of the call will be available on the website for about one month, starting at 9:00 a.m. Pacific on October 23, 2024.

Teledyne Technologies is a leading provider of sophisticated digital imaging products and software, instrumentation, aerospace and defense electronics, and engineered systems. The company's operations are primarily located in the United States, Canada, the United Kingdom, and Western and Northern Europe.

Teledyne DALSA, a Teledyne Technologies [NYSE:TDY] company, has unveiled its next-generation AI-powered BOA™3 smart camera for industrial automation and inspection. The BOA3 combines features from previous BOA generations with new sensor and AI inspection technologies developed by Teledyne. It offers:

• Sensor resolutions from 1.2 to 12MP
• Integrated or C-mount lens options
• Onboard I/O
• Easy-to-use machine vision software

The camera comes with iNspect™ software, featuring tools for positioning, part locating, pattern matching, measuring, barcode reading, and defect detection. It also includes AI Classification and Object Detection models created in Astrocyte™, Teledyne DALSA's AI Trainer software. BOA3 models with 1.2, 5MP, and 12MP monochrome sensors are available immediately, with color versions planned for release at the end of 2024.

Teledyne FLIR Defense, part of Teledyne Technologies Incorporated (NYSE:TDY), has secured two five-year requirements contracts worth up to $47 million to provide and support ground robots to the U.S. government. The contracts, awarded by the U.S. Army Contracting Command in Detroit, cover:

1. A contract up to $32 million for sustainment of Man-Transportable Robotic System (MTRS) and Common Robotic Systems-Heavy (CRS-H) fielded robots, available to all Department of Defense units.

2. A contract up to $15 million for sustainment of FirstLook 110, SUGV 310, PackBot, and Kobra 725 ground robots, available to all U.S. government agencies.

The contracts span nearly Teledyne FLIR Defense's full portfolio of unmanned ground systems, from the 6-pound FirstLook to the 525-pound Kobra/CRS-H robot. Funding will be provided with each delivery order received over the five-year performance period.

Teledyne DALSA, a Teledyne Technologies [NYSE:TDY] company, has introduced the Linea™ HS2 TDI line scan camera family. This innovative series represents a significant breakthrough in next-generation TDI technology, designed for ultra-high-speed imaging in light-starved conditions. Key features include:

• 16k/5 µm resolution
• Maximum line rate of 1 Megahertz
• 16 Gigapixels per second data throughput
• Highly sensitive Backside Illuminated (BSI) multi-array charge-domain TDI CMOS sensor
• Configurable for superior image quality with maximized line rate, dynamic range, or full well
• Dual Camera Link HS CX4 connectors for EMI immunity
• 2.5 times increase in speed compared to existing Linea HS cameras

The Linea HS2 is ideal for inspecting semiconductor wafers, high-density interconnects, flat panel displays, and life science applications.

Teledyne FLIR Defense, part of Teledyne Technologies Incorporated (NYSE:TDY), has secured an agreement worth up to $20.8 million to deliver Star SAFIRE® 380-HLD multi-spectral imaging systems to the Japan Maritime Self-Defense Force (JMSDF). The systems will be integrated into SH-60L helicopters for anti-submarine, anti-surface warfare, and search and rescue missions.

The deal includes the delivery of ten Star SAFIRE 380-HLD systems over three years, with two systems already delivered for testing. The Star SAFIRE 380-HLD is an ultra-long-range airborne surveillance system offering high-definition visual and thermal imagery, superior image stabilization, and accurate target location capabilities.