Teledyne Earnings: What To Look For From TDY

Digital imaging and instrumentation provider Teledyne (NYSE:TDY) will be reporting earnings tomorrow morning. Here’s what to look for.

Teledyne beat analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $1.37 billion, down 3.6% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates.

Is Teledyne a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Teledyne’s revenue to be flat year on year at $1.42 billion, slowing from the 2.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $4.97 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Teledyne has missed Wall Street’s revenue estimates four times over the last two years.

Looking at Teledyne’s peers in the electrical equipment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Badger Meter delivered year-on-year revenue growth of 11.9%, missing analysts’ expectations by 1.8%, and Acuity Brands reported revenues up 2.2%, in line with consensus estimates. Badger Meter traded down 5.4% following the results while Acuity Brands was up 9%.

Read our full analysis of Badger Meter’s results here and Acuity Brands’s results here.

There has been positive sentiment among investors in the electrical equipment segment, with share prices up 2.3% on average over the last month. Teledyne is up 3.3% during the same time and is heading into earnings with an average analyst price target of $480.79 (compared to the current share price of $446.93).

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