Teledyne Technologies (TDY) Tops Q1 EPS by 43c, Offers Guidance

Teledyne Technologies (NYSE: TDY) reported Q1 EPS of $3.02, $0.43 better than the analyst estimate of $2.59. Revenue for the quarter came in at $805.7 million versus the consensus estimate of $785.54 million.

GUIDANCE:

Teledyne Technologies sees Q2 2021 EPS of $2.85-$2.95, versus the consensus of $2.79.

Teledyne Technologies sees FY2021 EPS of $12.00-$12.20, versus the consensus of $11.55.

• Based on its current outlook, the company’s management believes that second quarter 2021 adjusted diluted earnings per share will be in the range of $2.85 to $2.95 and full year 2021 adjusted diluted earnings per share will be in the range of $12.00 to $12.20. This outlook does not reflect the pending acquisition of FLIR and related transaction and financing costs, which cannot be estimated at this time, but are expected to be significant, and the issuance of Teledyne common stock in the transaction as contemplated by the definitive merger agreement. The total year 2021 adjusted diluted earnings per share outlook is an increase from the prior outlook of $11.25 to $11.45. The company’s annual expected tax rate for 2021 is 22.6%, before discrete tax items. In addition, we currently expect less discrete tax items in 2021 compared with 2020.

For earnings history and earnings-related data on Teledyne Technologies (TDY) click here.

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