TE Connectivity Issues Q4 Guidance

(RTTNews) - TE Connectivity (TEL) said, for the fourth quarter, the company expects net sales of approximately $4.0 billion. GAAP EPS from continuing operations is expected to be approximately $1.80, up 3% year over year, with adjusted EPS of approximately $1.94, up 9% year over year. Analysts polled by Thomson Reuters expect the company to report profit per share of $1.93 on revenue of $4.11 billion. Analysts' estimates typically exclude special items.

Third quarter bottom line came in at $573 million, or $1.86 per share compared with $528 million, or $1.67 per share, a year ago. Adjusted EPS was $1.91, up 8% year over year. Analysts on average had expected the company to earn $1.86 per share, according to figures compiled by Thomson Reuters.

Net sales were $4.0 billion, down 1% on a reported basis year over year and up 2% organically. Analysts on average had estimated $4.01 billion in revenue.

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