Teledyne's Q3 results beat on digital imaging segment strength; raises FY profit forecast
Overview
U.S. industrial technology firm's Q3 sales rose 9.4% yr/yr, beating analyst expectations
Adjusted EPS for Q3 beat consensus, rising 20.6% yr/yr
Company announced pending $1.1 bln acquisition of Varex Imaging
Outlook
Teledyne sees Q4 2026 GAAP EPS between $5.68 and $5.83
Company expects Q4 2026 non-GAAP EPS of $6.60 to $6.70
Teledyne raises full-year 2026 GAAP EPS outlook to $21.71-$21.87 from $20.73-$20.99
Company lifts full-year 2026 non-GAAP EPS forecast to $25.40-$25.50 from $24.45-$24.65
Result Drivers
DIGITAL IMAGING DEMAND - Co said growth was led by higher sales of infrared detectors and subsystems for space, unmanned, and commercial imaging applications
DEFENSE AND COMMERCIAL APPLICATIONS - Higher sales of infrared imaging detectors, maritime products, and surveillance systems contributed to revenue growth
FAVORABLE PRODUCT MIX - Co attributed higher operating income partly to a more favorable product mix
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | Beat | $1.68 bln | $1.65 bln (9 Analysts) |
Q3 Adjusted EPS | Beat | $6.72 | $6.17 (10 Analysts) |
Q3 EPS | $5.82 | ||
Q3 Revenue Growth | 9.40% |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electronic equipment & parts peer group is "buy"
Wall Street's median 12-month price target for Teledyne Technologies Incorporated is $760.00, about 20.2% above its October 20 closing price of $632.21
The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 27 three months ago
Reuters Recommended Reads
Oct 20 - Aerospace and military contractors raise 2026 profit forecasts
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)