Welcome to our dedicated page for TE CONNECTIVITY news (Ticker: TEL), a resource for investors and traders seeking the latest updates and insights on TE CONNECTIVITY stock.
TE Connectivity Ltd. (NYSE: TEL) is a global leader in industrial technology, creating solutions for a safer, more sustainable, productive, and connected future. Headquartered in Schaffhausen, Switzerland, and soon to be domiciled in Ireland, TE Connectivity provides a broad range of connectivity and sensor solutions that enable the distribution of power, signal, and data across various industries.
With an impressive portfolio of over 500,000 stock-keeping units, TE Connectivity serves nearly 150 countries and employs more than 85,000 people, including 8,000 engineers. These solutions support advancements in transportation, industrial applications, medical technology, energy, data communications, and home applications.
In fiscal 2024, TE Connectivity demonstrated robust financial performance, with earnings surpassing guidance due to significant margin expansions and record free cash flow. The company’s strong presence in electric vehicles (EVs) continues to drive sales growth, particularly within the Transportation segment. The Industrial segment also showed growth, driven by renewable energy, commercial air, and medical applications. Although the Communications segment faced challenges, the company is optimistic about future growth in artificial intelligence applications.
Among TE Connectivity’s recent achievements is the proposal to change its place of incorporation from Switzerland to Ireland, aimed at positioning the company for long-term success without material changes to its operations or financial results.
As a testament to its industry leadership, TE Connectivity consistently invests in mega trends such as e-mobility, renewable energy, factory automation, and artificial intelligence. These investments are crucial for driving long-term profitable growth and maintaining the company’s competitive edge.
TE Connectivity’s commitment to innovation and customer partnership is evident in its strategic initiatives and consistent delivery of value. The company’s latest financial outlook for the third quarter of fiscal 2024 projects net sales of approximately $4.0 billion, with adjusted earnings per share (EPS) of around $1.85, despite headwinds from tax and currency exchange rates.
For more detailed and up-to-date information, including recent news and investor presentations, visit www.te.com.
TE Connectivity (NYSE: TEL) announced that its subsidiary, Tyco Electronics Group S.A., has priced an offering of $350 million in 4.625% senior notes due 2030. The notes will be issued at 99.459% of their face value with a 4.625% annual interest rate, payable semi-annually. TE Connectivity plans to use the net proceeds for general corporate purposes, potentially including debt repayment. The offering, expected to close on August 2, 2024, is being managed by BNP Paribas Securities Corp., Deutsche Bank Securities Inc., and Goldman Sachs & Co. This announcement is not an offer to sell or solicitation to buy securities.
TE Connectivity (NYSE: TEL) reported strong fiscal Q3 2024 results, with adjusted EPS of $1.91, up 8% year-over-year and exceeding guidance. Despite a 1% decline in reported net sales to $4.0 billion, organic sales grew 2%. The company achieved record operating margins of 19.3%, up 200 basis points year-over-year. Orders increased 4% to $4.1 billion, driven by momentum in artificial intelligence programs. TE Connectivity generated record year-to-date cash flow, with cash from operations up 22% to $2.4 billion and free cash flow up 36% to $2.0 billion. For Q4 FY24, the company expects net sales of $4.0 billion and adjusted EPS of $1.94, up 9% year-over-year.
TE Connectivity (NYSE: TEL) will announce its Q3 fiscal 2024 financial results on July 24, 2024, before the market opens. The company will host an investor conference call at 8:30 a.m. ET to discuss the results. Interested parties can join the call via TE Connectivity's investor website or by dialing (800) 715-9871 in the U.S. and (646) 307-1963 internationally. A replay will be available on the investor website at 11:30 a.m. ET the same day.
TE Connectivity's shareholders have approved all proposals at the Special General Meeting on June 12, 2024. The company plans to complete a merger with its subsidiary, TE Connectivity plc, by September 30, 2024. This merger will shift the company's jurisdiction from Switzerland to Ireland. Each current shareholder will receive one share of TE Connectivity plc for each share of TE Connectivity they own.
TE Connectivity's 2024 Industrial Technology Index reveals a disconnect between aspirations and proper planning for AI and sustainability among technology companies worldwide. While executives and engineers are optimistic about AI and sustainability, there is uncertainty about advancing these initiatives. The survey highlights the need for better alignment between leaders and engineers for successful implementation of AI. Engineers show a strong passion for supporting sustainable practices, with a significant percentage willing to leave their job if their company does not prioritize sustainability.
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