TE Connectivity announces third quarter results for fiscal year 2022
Third Quarter Highlights
Net sales were $4.1 billion, up 7% on a reported basis and 11% organically year over year, with strong growth across all segments.
Orders of $4.2 billion with a book to bill of 1.02 and backlog up more than 20% year over year, reflecting continued strong customer demand.
GAAP diluted earnings per share (EPS) from continuing operations were $1.83, up 5% year over year, and adjusted EPS were $1.86, up 4% year over year.
Cash flow from operating activities was $579 million, with approximately $500 million returned to shareholders.
Issued Connecting Our World Report, which highlights 30% reduction in absolute GHG emissions in fiscal year 2021 and other ESG achievements.
Fourth Quarter FY22 Outlook
For the fourth quarter of fiscal 2022, the company expects net sales of approximately $4.2 billion, reflecting an approximate 10% increase on a reported basis and an approximate 15% increase on an organic basis year over year. GAAP EPS from continuing operations are expected to be approximately $1.79, down 25% year over year, with adjusted EPS of approximately $1.85, up 9% year over year. The outlook includes the impact of an extra week in the fourth quarter.
