Digital imaging and instrumentation provider Teledyne (NYSE: TDY) will be announcing earnings results this Wednesday before market open. Here’s what investors should know.
Teledyne beat analysts’ revenue expectations last quarter, reporting revenues of $1.56 billion, up 7.6% year on year. It was a very strong quarter for the company, with full-year EPS guidance slightly topping analysts’ expectations and a beat of analysts’ EPS estimates.
Is Teledyne a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Teledyne’s revenue to grow 4.3% year on year, slowing from the 10.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Teledyne has a history of exceeding Wall Street’s expectations.
Looking at Teledyne’s peers in the electrical equipment segment, only Acuity Brands has reported results so far. It exceeded analysts’ revenue estimates, delivering year-on-year sales growth of 1.6%.
Read our full analysis of Acuity Brands’s earnings results here.In the last year or so, investors have shifted their focus from one macro dynamic to the next (AI disintermediation and AI investment to geopolitical conflict, interest rates, and the health of the wider economy). While some of the electrical equipment stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 4% on average over the last month. Teledyne is up 1.6% during the same time and is heading into earnings with an average analyst price target of $741.31 (compared to the current share price of $626.68).
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