Sensata Technologies 10-Q Filing: Q2 2024 Financials

TL;DR

Sensata's Q2 2024 10-Q is in. Check financials for industrial instrument performance.

AI Summary

Sensata Technologies Holding plc filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial figures and segment information are presented, reflecting the company's ongoing business activities and market position in industrial instruments.

Why It Matters

This filing provides investors and analysts with a detailed look at Sensata's financial health and operational performance during the second quarter of 2024, influencing investment decisions and market sentiment.

Risk Assessment

Risk Level: medium — 10-Q filings are standard disclosures for public companies, but the specific financial details and market conditions described within can carry inherent business risks.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 20240729 — Filing Date (The date Sensata Technologies submitted this 10-Q to the SEC.)

Key Players & Entities

• Sensata Technologies Holding plc (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• 20240729 (date) — Filing date of the report
• 3823 (number) — Standard Industrial Classification code for Industrial Instruments

FAQ

Filing Documents

• st-20240630.htm (10-Q) — 1805KB
• exhibit311_063024.htm (EX-31.1) — 10KB
• exhibit312_063024.htm (EX-31.2) — 10KB
• exhibit313_063024.htm (EX-31.3) — 10KB
• exhibit321_063024.htm (EX-32.1) — 8KB
• 0001477294-24-000153.txt ( ) — 8774KB
• st-20240630.xsd (EX-101.SCH) — 46KB
• st-20240630_cal.xml (EX-101.CAL) — 76KB
• st-20240630_def.xml (EX-101.DEF) — 281KB
• st-20240630_lab.xml (EX-101.LAB) — 608KB
• st-20240630_pre.xml (EX-101.PRE) — 476KB
• st-20240630_htm.xml (XML) — 1536KB

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited): Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 3 0 , 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 3 0 , 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 3 0 , 2024 and 2023 6 Condensed Consolidated Statements of Changes in Shareholders' Equity for the Three and Six Months Ended June 3 0 , 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 23

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 36

Controls and Procedures

Item 4. Controls and Procedures 36 PART II

Legal Proceedings

Item 1. Legal Proceedings 38

Risk Factors

Item 1A. Risk Factors 38

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 38

Other Information

Item 5. Other Information 38

Exhibits

Item 6. Exhibits 39

Signatures

Signatures 40 2 Table of Contents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. SENSATA TECHNOLOGIES HOLDING PLC Condensed Consolidated Balance Sheets (In thousands, except per share amounts) (unaudited) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 1,033,052 $ 508,104 Accounts receivable, net of allowances of $ 18,379 and $ 28,980 as of June 30, 2024 and December 31, 2023, respectively 809,411 744,129 Inventories 708,299 713,485 Prepaid expenses and other current assets 148,842 136,686 Total current assets 2,699,604 2,102,404 Property, plant and equipment, net 884,155 886,010 Goodwill 3,542,713 3,542,770 Other intangible assets, net of accumulated amortization of $ 2,600,447 and $ 2,522,760 as of June 30, 2024 and December 31, 2023, respectively 806,977 883,671 Deferred income tax assets 128,744 131,527 Other assets 127,249 134,605 Total assets $ 8,189,442 $ 7,680,987 Liabilities and shareholders' equity Current liabilities: Current portion of long-term debt and finance lease obligations $ 702,701 $ 2,276 Accounts payable 475,573 482,301 Income taxes payable 22,861 32,139 Accrued expenses and other current liabilities 320,324 307,002 Total current liabilities 1,521,459 823,718 Deferred income tax liabilities 360,437 359,073 Pension and other post-retirement benefit obligations 36,217 38,178 Finance lease obligations, less current portion 21,964 22,949 Long-term debt, net 3,170,804 3,373,988 Other long-term liabilities 67,009 66,805 Total liabilities 5,177,890 4,684,711 Commitments and contingencies (Note 11) Shareholders' equity: Ordinary shares, 0.01 nominal value per share, 177,069 shares authorized, and 176,321 and 175,832 shares issued as of June 30, 2024 and December 31, 2023, respectively 2,254 2,249 Treasury shares, at cost, 25,365 and 25,090 shares as of June 30, 2024 and December 31, 2023, respectively ( 1,223,212 ) ( 1,213,160 ) Additional paid-in capital 1,846,062 1,901,621 Retained earnings 2,400,196 2,295,604 Accumulate

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View this 10-Q filing on SEC EDGAR