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TE Connectivity Clocks 17% Sales Growth In Q4, Expands Margins, Issues Cautions Q1 Outlook

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TE Connectivity Clocks 17% Sales Growth In Q4, Expands Margins, Issues Cautions Q1 Outlook
  • TE Connectivity Ltd (NYSE: TELreported fourth-quarter FY21 net sales growth of 17% year-on-year to $3.82 billion, beating the consensus of $3.78 billion.
  • Revenue from Transportation Solutions rose 17.9% Y/Y to $2.2 billion, Industrial Solutions increased 6% Y/Y to $1.02 billion, and Communications Solutions grew 38% Y/Y to $603 million.
  • Margins: The gross margin expanded 337 basis points to 33.1%, and the non-GAAP operating margin expanded 400 basis points to 18.5%.
  • The non-GAAP EPS of $1.69 beat the consensus of $1.64.
  • TE Connectivity generated $774 million in operating cash flow and held $1.2 billion in cash and equivalents. 
  • Q1 Outlook: TEL sees Q1 FY22 net sales of $3.7 billion, below consensus of $3.78 billion, and non-GAAP EPS of $1.60, below consensus of $1.63.
  • Price action: TEL shares closed lower by 0.53% at $146.91 on Tuesday.
 

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