Teledyne Technologies Analysts Boost Their Forecasts After Upbeat Q2 Earnings

Benzinga Earnings
07/23

Teledyne Technologies (NYSE:TDY) upbeat earnings for the second quarter on Wednesday.

The company reported quarterly earnings of $6.28 per share which beat the analyst consensus estimate of $5.80 per share. The company reported quarterly sales of $1.662 billion which beat the analyst consensus estimate of $1.579 billion.

Teledyne raised its FY2026 adjusted EPS guidance from $23.85-$24.15 to $24.45-$24.65 and also boosted its GAAP EPS guidance from $20.08-$20.44 to $20.73-$20.99.

Robert Mehrabian, Executive Chairman said, “Sales and non-GAAP earnings increased 9.8% and 20.8%, respectively, and we ended the quarter with approximately $5.0 billion of funded backlog. Organic growth was greatest in our Digital Imaging segment, where infrared detectors and systems for space and airborne and marine unmanned systems, as well as counter unmanned applications, each increased considerably. Furthermore, we achieved growth in our other segments and each product line within the Instrumentation segment. At the beginning of the quarter, we repaid $450 million of gross debt, and given the strength of our balance sheet, we continue to review a number of acquisitions.”

Teledyne Technologies shares gained 0.6% to trade at $653.97 on Thursday.

These analysts made changes to their price targets on Teledyne Technologies following earnings announcement.

  • Needham analyst James Ricchiuti maintained the stock with a Buy and raised the price target from $735 to $750.
  • Stifel analyst Jonathan Siegmann maintained the stock with a Buy and raised the price target from $750 to $775.

Considering buying TDY stock? Here’s what analysts think:

Photo via Shutterstock

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