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WASHINGTON - Teledyne FLIR Defense, a division of Teledyne Technologies Incorporated (NYSE:TDY), a $24.75 billion market cap company with robust financials and a ’GOOD’ InvestingPro health score, has expressed support for U.S. Secretary of Defense Pete Hegseth’s "Unleashing U.S. Military Drone Dominance" memorandum issued on July 10.
The company’s Black Hornet nano-drone, which was visible in Secretary Hegseth’s announcement video, has been in service with American military forces for over six years, according to Dr. JihFen Lei, president of Teledyne FLIR Defense.
"We stand committed to keep providing the intelligence, surveillance and reconnaissance capabilities that give our armed forces a clear tactical edge," Lei stated in a press release.
The U.S. Army began purchasing Black Hornet drones in 2018 for its Soldier Borne Sensor program, with orders totaling more than $300 million since then. This contract contributes to Teledyne’s strong revenue of $5.77 billion in the last twelve months, with a healthy gross profit margin of 43%. Last month, the Black Hornet 4 was added to the "Blue UAS List," allowing Department of Defense and other government users to acquire the system as a vetted drone solution.
In May, the company opened a new 13,000-square-foot facility in Somerset, Kentucky, dedicated to servicing, testing, and training on Black Hornet systems used by U.S. forces.
The Black Hornet 4 weighs 70 grams and features a 12-megapixel daytime camera and thermal imager. According to the company, it can fly for more than 30 minutes, cover distances over three kilometers, and operate in 25-knot winds and rain.
Teledyne FLIR Defense reports it has delivered more than 33,000 Black Hornet drones to military and security forces across 45 countries. The company’s stock is currently trading near its 52-week high, reflecting strong market confidence. For detailed analysis and additional insights, including 7 more exclusive ProTips, visit InvestingPro, where you can access comprehensive research reports covering 1,400+ top US stocks.
In other recent news, Teledyne Technologies Incorporated reported its financial results for the first quarter of 2025, surpassing Wall Street expectations with earnings per share of $4.95, slightly above the forecast of $4.92. The company achieved revenue of $1.45 billion, exceeding the anticipated $1.42 billion, marking a 7.4% increase in total sales. In a strategic move, Teledyne also completed the acquisition of Maretron business assets from Littelfuse Inc, integrating them into its Raymarine business. This acquisition aims to bolster Raymarine’s offerings in vessel automation solutions. Additionally, Teledyne announced a significant leadership change, appointing George C. Bobb III as the new President and CEO, succeeding Edwin Roks. The company’s governance structure saw changes as well, with amendments to its bylaws transitioning from supermajority to simple majority voting requirements. Executive compensation adjustments were also made, with salary increases for key officers, including George C. Bobb III. These developments reflect Teledyne’s ongoing efforts to strengthen its market position and align with best practices.
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