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THOUSAND OAKS, Calif. - Teledyne Technologies Incorporated (NYSE:TDY) reported fourth quarter earnings that surpassed analyst estimates, while providing a mixed outlook for 2025. TDY shares were trading flat following the announcement.
The technology company posted adjusted earnings per share of $5.52 for Q4, beating the Wall Street consensus of $5.23. Revenue came in at $1.5 billion, also topping expectations of $1.45 billion and representing a 5.4% increase year-over-year.
"In the fourth quarter, we achieved all-time record sales and non-GAAP earnings per share," said Robert Mehrabian, Executive Chairman. "Year-over-year growth accelerated, as our shorter-cycle businesses improved throughout 2024 coupled with strong demand in our longer cycle defense, space, and energy businesses."
For the full year 2024, Teledyne reported revenue of $5.67 billion, up 0.6% from 2023. Adjusted earnings per share for the year reached $19.73.
Looking ahead, the company issued guidance for fiscal 2025, projecting adjusted earnings per share between $21.10 and $21.50. The midpoint of this range falls slightly below the current analyst consensus of $21.55.
Teledyne noted it ended 2024 with low leverage despite $1.1 billion in capital deployment. The company also highlighted its recent acquisition of Micropac Industries and pending acquisition of select aerospace and defense electronics businesses from Excelitas Technologies.
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