Teledyne Technologies Q3 2024 Financial Update
Ticker: TDY · Form: 10-Q · Filed: Oct 28, 2024
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
TDY Q3 2024 10-Q filed. Financials look solid, check retained earnings and capital accounts.
AI Summary
Teledyne Technologies Inc. reported its third-quarter 2024 results for the period ending September 29, 2024. The company's filing provides financial data for the quarter and year-to-date periods, including details on its common stock, additional paid-in capital, treasury stock, retained earnings, and accumulated other comprehensive income.
Why It Matters
This 10-Q filing provides investors with a detailed look at Teledyne's financial performance and position as of the end of the third quarter of 2024, crucial for investment decisions.
Risk Assessment
Risk Level: low — This filing is a standard quarterly report and does not indicate any immediate or unusual risks.
Key Numbers
- 20240929 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
- 20241028 — Filing Date (The date the report was officially submitted to the SEC.)
Key Players & Entities
- TELEDYNE TECHNOLOGIES INC (company) — Filer
- 20240929 (date) — Conformed Period of Report
- 20241028 (date) — Filed as of Date
- 1049 CAMINO DOS RIOS (address) — Business Address
- THOUSAND OAKS (city) — Business Address City
- CA (state) — Business Address State
- 91360 (zip_code) — Business Address Zip
- 805-373-4545 (phone_number) — Business Phone
FAQ
What is the reporting period for this 10-Q filing?
The conformed period of report is 20240929, indicating the third quarter of fiscal year 2024.
When was this 10-Q filing submitted to the SEC?
The filing was submitted on 20241028.
What is the company's primary business address?
The company's business address is 1049 CAMINO DOS RIOS, THOUSAND OAKS, CA 91360.
What is the SIC code for Teledyne Technologies Inc.?
The Standard Industrial Classification code is 3812 for Search, Detection, Navigation, Guidance, Aeronautical Systems.
What fiscal year end does Teledyne Technologies Inc. follow?
The company's fiscal year ends on 1229.
Filing Stats: 4,651 words · 19 min read · ~16 pages · Grade level 6.9 · Accepted 2024-10-25 19:15:47
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value TDY New York Stock Exchange
Filing Documents
- tdy-20240929.htm (10-Q) — 1776KB
- tdy-ex311_10q320240929.htm (EX-31.1) — 10KB
- tdy-ex312_10q320240929.htm (EX-31.2) — 10KB
- tdy-ex321_10q320240929.htm (EX-32.1) — 4KB
- tdy-ex322_10q320240929.htm (EX-32.2) — 4KB
- 0001094285-24-000104.txt ( ) — 9235KB
- tdy-20240929.xsd (EX-101.SCH) — 44KB
- tdy-20240929_cal.xml (EX-101.CAL) — 71KB
- tdy-20240929_def.xml (EX-101.DEF) — 255KB
- tdy-20240929_lab.xml (EX-101.LAB) — 637KB
- tdy-20240929_pre.xml (EX-101.PRE) — 470KB
- tdy-20240929_htm.xml (XML) — 1849KB
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 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 24
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 33
Controls and Procedures
Item 4. Controls and Procedures 34 Part II Other Information 35
Legal Proceedings
Item 1. Legal Proceedings 35
Risk Factors
Item 1A. Risk Factors 35
Unregistered sales of equity securities and use of proceeds
Item 2. Unregistered sales of equity securities and use of proceeds 35
Other Information
Item 5. Other Information 35
Exhibits
Item 6. Exhibits 36
Signatures
Signatures 37 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 THIRD QUARTER AND NINE MONTHS ENDED SEPTEMBER 29, 2024 AND OCTOBER 1, 2023 (Unaudited - Amounts in millions, except per share amounts) Third Quarter Nine Months 2024 2023 2024 2023 Net sales $ 1,443.5 $ 1,402.5 $ 4,167.7 $ 4,210.5 Costs and expenses Cost of sales 823.9 797.2 2,375.6 2,394.2 Selling, general and administrative 299.1 291.9 891.8 905.3 Acquired intangible asset amortization 49.8 49.1 148.3 148.1 Total costs and expenses 1,172.8 1,138.2 3,415.7 3,447.6 Operating income (loss) 270.7 264.3 752.0 762.9 Interest and debt income (expense), net ( 15.7 ) ( 18.4 ) ( 44.2 ) ( 61.7 ) Gain (loss) on debt extinguishment — — — 1.6 Non-service retirement benefit income (expense), net 2.8 3.1 8.2 9.3 Other income (expense), net ( 2.7 ) ( 2.9 ) ( 3.7 ) ( 7.4 ) Income (loss) before income taxes 255.1 246.1 712.3 704.7 Provision (benefit) for income taxes ( 7.1 ) 47.3 90.7 141.6 Net income (loss) including noncontrolling interest 262.2 198.8 $ 621.6 $ 563.1 Less: Net income (loss) attributable to noncontrolling interest 0.2 0.2 0.9 0.5 Net income (loss) attributable to Teledyne $ 262.0 $ 198.6 $ 620.7 $ 562.6 Basic earnings per common share $ 5.61 $ 4.22 $ 13.18 $ 11.97 Weighted average common shares outstanding 46.7 47.1 47.1 47.0 Diluted earnings per common share $ 5.54 $ 4.15 $ 13.01 $ 11.75 Weighted average diluted common shares outstanding 47.3 47.9 47.7 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 THIRD QUARTER AND NINE MONTHS ENDED SEPTEMBER 29, 2024 AND OCTOBER 1, 2023 (Unaudited - Amounts in millions) Third Quarter Nine Months 2024 2023 2024 2023 Net income (loss) including noncontrolling interest $ 262.2 $ 198.