TE Connectivity Ltd.
TE Connectivity reports Q4 and FY2024 results and increases share repurchase program
Summary
On October 30, 2024, TE Connectivity plc announced its financial results for the fourth quarter and fiscal year 2024, including an increase in its share repurchase program by $2.5 billion authorized by the board. The company reported a 1% increase in net sales for Q4 2024 and a 1.2% decrease for FY 2024, compared to the prior year. Adjusted EPS exceeded guidance with a record $1.95 for Q4 2024 and $7.56 for FY 2024, up 10% and 12% respectively. The company also reported record operating margins for both Q4 and FY 2024, and generated significant free cash flow. TE Connectivity will hold a conference call on the same day to discuss these results.
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About TE Connectivity Ltd.
TE Connectivity Ltd. is a global technology company specializing in the design and manufacture of connectivity and sensor solutions. The company serves various industries, including automotive, aerospace, defense, medical technology, energy, data communications, and consumer electronics. TE Connectivity's primary function is to provide essential components and integrated solutions that enable reliable and robust electrical connections and data transfers in critical applications. Notable features of the company include its focus on innovation and sustainability, offering products like connectors, sensors, relays, and fiber optic equipment that improve efficiency and durability. Its products are fundamental in facilitating advancements in the Internet of Things (IoT), autonomous driving, renewable energy, and high-speed data applications. In the financial markets, TE Connectivity plays a significant role as a leader in the electronic components sector, known for its commitment to quality and cutting-edge technology. The company's operations extend globally, with a strong presence in both established and emerging markets, making it a vital link in the supply chains of some of the world's leading technology and industrial companies.
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