Teledyne Technologies Files Q2 2024 10-Q
Ticker: TDY · Form: 10-Q · Filed: Jul 29, 2024
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
Related Tickers: TDY
TL;DR
TDY Q2 10-Q filed. Financials and ops details out.
AI Summary
Teledyne Technologies Inc. filed its 10-Q for the period ending June 30, 2024. The filing covers the second quarter of 2024, detailing financial performance and operational updates. Specific financial figures and segment performance are outlined within the report.
Why It Matters
This filing provides investors with the latest financial results and operational insights for Teledyne Technologies, crucial for understanding the company's current performance and future outlook.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.
Key Players & Entities
- TELEDYNE TECHNOLOGIES INC (company) — Filer
- 20240630 (date) — Reporting Period End Date
- 20240729 (date) — Filing Date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended June 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on July 29, 2024.
What is Teledyne Technologies Inc.'s Central Index Key (CIK)?
Teledyne Technologies Inc.'s Central Index Key is 0001094285.
What is the Standard Industrial Classification (SIC) code for Teledyne Technologies Inc.?
The SIC code for Teledyne Technologies Inc. is 3812, for Search, Detection, Navigation, Guidance, Aeronautical Systems.
What is the company's fiscal year end date?
Teledyne Technologies Inc.'s fiscal year ends on December 29.
Filing Stats: 4,646 words · 19 min read · ~15 pages · Grade level 7 · Accepted 2024-07-26 19:42:45
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value TDY New York Stock Exchange
Filing Documents
- tdy-20240630.htm (10-Q) — 1751KB
- tdy-ex311_10q220240630.htm (EX-31.1) — 10KB
- tdy-ex312_10q220240630.htm (EX-31.2) — 10KB
- tdy-ex321_10q220240630.htm (EX-32.1) — 4KB
- tdy-ex322_10q220240630.htm (EX-32.2) — 4KB
- 0001094285-24-000090.txt ( ) — 9237KB
- tdy-20240630.xsd (EX-101.SCH) — 45KB
- tdy-20240630_cal.xml (EX-101.CAL) — 72KB
- tdy-20240630_def.xml (EX-101.DEF) — 274KB
- tdy-20240630_lab.xml (EX-101.LAB) — 639KB
- tdy-20240630_pre.xml (EX-101.PRE) — 477KB
- tdy-20240630_htm.xml (XML) — 1848KB
Financial Statements
Item 1. Financial Statements 2 Condensed Consolidated Statements of Income (Loss) 2 Condensed Consolidated Statements of Comprehensive Income (Loss) 3 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Stockholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7
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 21
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 30
Controls and Procedures
Item 4. Controls and Procedures 30 Part II Other Information 30
Legal Proceedings
Item 1. Legal Proceedings 30
Risk Factors
Item 1A. Risk Factors 30
Other Information
Item 5. Other Information 30
Exhibits
Item 6. Exhibits 31
Signatures
Signatures 32 1 Table of Contents
FINANCIAL INFORMATION
PART I FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements TELEDYNE TECHNOLOGIES INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) FOR THE SECOND QUARTER AND SIX MONTHS ENDED JUNE 30, 2024 AND JULY 2, 2023 (Unaudited - Amounts in millions, except per-share amounts) Second Quarter Six Months 2024 2023 2024 2023 Net sales $ 1,374.1 $ 1,424.7 $ 2,724.2 $ 2,808.0 Costs and expenses Cost of sales 781.5 806.3 1,551.7 1,597.0 Selling, general and administrative 296.5 313.0 592.7 613.4 Acquired intangible asset amortization 49.1 49.3 98.5 99.0 Total costs and expenses 1,127.1 1,168.6 2,242.9 2,309.4 Operating income (loss) 247.0 256.1 481.3 498.6 Interest and debt income (expense), net ( 15.8 ) ( 22.3 ) ( 28.5 ) ( 43.3 ) Gain (loss) on debt extinguishment — 1.6 — 1.6 Non-service retirement benefit income (expense), net 2.7 2.9 5.4 6.2 Other income (expense), net ( 2.2 ) ( 3.4 ) ( 1.0 ) ( 4.5 ) Income (loss) before income taxes 231.7 234.9 457.2 458.6 Provision (benefit) for income taxes 51.4 49.4 97.8 94.3 Net income (loss) including noncontrolling interest 180.3 185.5 $ 359.4 $ 364.3 Less: Net income (loss) attributable to noncontrolling interest 0.1 0.2 0.7 0.3 Net income (loss) attributable to Teledyne $ 180.2 $ 185.3 $ 358.7 $ 364.0 Basic earnings per common share $ 3.82 $ 3.94 $ 7.58 $ 7.74 Weighted average common shares outstanding 47.2 47.0 47.3 47.0 Diluted earnings per common share $ 3.77 $ 3.87 $ 7.49 $ 7.60 Weighted average diluted common shares outstanding 47.8 47.9 47.9 47.9 The accompanying notes are an integral part of these condensed consolidated financial statements. 2 Table of Contents TELEDYNE TECHNOLOGIES INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) FOR THE SECOND QUARTER AND SIX MONTHS ENDED JUNE 30, 2024 AND JULY 2, 2023 (Unaudited - Amounts in millions) Second Quarter Six Months 2024 2023 2024 2023 Net income (loss) including noncontrolling interest $ 180.3 $ 185.5 $ 359.4 $ 364.3 Other c