EU CAPITAL GOODS: TE Connectivity (TEL NR/A-/A-): 2Q25 Results
Apr-23 14:42
- Firm results. Not a spread mover for us.
- TE reported revenue 4% above consensus. Book to bill was 1.02x.
- Adj. EBITDA also beat by 4%, i.e. margins were in line.
- FCF of $420mn fell short of $490mn expected. Capex was elevated along with increased working capital.
- 3Q revenue was guided 4% above consensus with EPS 1% above.
- Electrification and data exposed names continue to do well and outperform macro. It has limited tariff exposure with localised manufacturing.
- Webcast replay https://events.q4inc.com/attendee/795076841.
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