TDY
Teledyne Technologies Incorporated506.54
-7.75-1.51%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Granular 2026 growth, M&A details
Q&A provided granular color on 2026 outlook, breaking down ~3.6% organic growth with no short-cycle declines—marine instruments at 5%, FLIR near 4.6%—confirming prepared remarks' confidence. Unmanned revenue hit $500 million in 2025, eyed at $550 million next year amid AUV wins in Europe and loitering munitions progress. Management grew bullish on larger M&A (~$1B deals) after Q4's opportunistic $400 million buyback, prioritizing tuck-ins and avoiding fixer-uppers. Digital Imaging margins should rise to 23.4% on cost cuts. Book-to-bill ticked 1.07 in Q4. Analysts' memory and aviation probes drew crisp no-risk replies. Investors will track M&A pipeline and unmanned ramp.
Key Stats
Market Cap
23.78BP/E (TTM)
29.33Basic EPS (TTM)
17.27Dividend Yield
0%Recent Filings
8-K
SOFR adjustment eliminated
Teledyne Technologies signed the First Amendment to its June 2024 credit agreement on February 25, 2026, scrapping the 0.10% SOFR adjustment across Term SOFR definitions and related provisions. Lenders including Bank of America, JPMorgan, and others approved the tweak. Clean update. No other terms changed.
10-K
FY2025 results
Teledyne drove FY2025 net sales to $6.1B, up 7.9% y/y, with Aerospace and Defense Electronics surging 36.3% on $282M from acquisitions like Qioptiq while Digital Imaging grew 3.0% amid mixed infrared and unmanned demand. Operating income climbed 16.2% to $1.15B, margins expanding as impairments vanished; EPS hit $18.88, up 9.7%, reconciling to 47.4M diluted shares. Q4 momentum shone in defense electronics and marine instrumentation, fueled by offshore energy, yet Engineered Systems dipped 0.9% on NASA cuts. Free cash flow neared $1.1B (derived) despite $117M capex; $400M buybacks trimmed shares, debt fell to $2.5B with $1.2B revolver dry. U.S. Government sales held 25.5%. Supply chain snarls threaten quarterly ramps.
8-K
Director retires; bonuses paid
Teledyne director Kenneth C. Dahlberg will retire at the April 22, 2026 annual meeting, shrinking the board to 10 members. Compensation committee approved 2025 AIP bonuses totaling over $4.3M for named executives, including $922,100 to CEO Bobb III, while 2023-2025 Performance Plan hit 50.9% of target. New 2026 incentives tie pay to operating profit, revenue, and TSR vs S&P 500. Board stays lean.
8-K
Record Q4 sales, EPS soar
Teledyne smashed records with Q4 net sales of $1,612.3 million, up 7.3% including $73 million from acquisitions, and non-GAAP EPS of $6.30, up 14.1%. Full-year sales hit $6,115.4 million; Aerospace and Defense Electronics surged 40.4%. Balance sheet stays rock-solid at 1.4x leverage. Issues 2026 non-GAAP EPS guidance of $23.45-$23.85.
8-K
Director Singleton retires
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