Teledyne Technologies (TDY) Q1 2025 Earnings
How Did TDY Stock React to Q1 2025 Earnings?
S&P 500 over the same 30 days: +8.16%.
Did TDY Beat Earnings? Q1 2025 Results
Yes. Teledyne Technologies reported Q1 2025 earnings of $4.95 a share on Apr 23, 2025, beating the $4.92 consensus estimate by 0.6%. Revenue was $1.4B against a $1.4B estimate.
Teledyne Technologies opened 2025 with a record-setting quarter, reporting first-quarter non-GAAP diluted EPS of $4.95, a 0.56% beat against the $4.92 consensus, while revenue of $1.45 billion edged past estimates by 0.73% and grew 7.4% year over year. The standout driver was broad-based strength across all four business segments, amplified by $55.60 million in incremental acquisition-related sales following the January completion of the Qioptiq deal, which management described as already off to a great start and has since secured new military contracts in Europe. Non-GAAP operating margin expanded to a record 22.0% from 21.2% a year ago, underscoring the company's pricing discipline even as interest expense climbed to $17.30 million on higher acquisition-related borrowings. Quarter-end backlog reached an all-time high, with orders exceeding sales for the sixth consecutive quarter. Despite the strong showing, management held its full-year 2025 non-GAAP EPS guidance steady at $21.10 to $21.50, citing a very unpredictable environment, while guiding second-quarter non-GAAP EPS to $4.95 to $5.05.
- Organic growth across all four segments
- Record quarter-end backlog with orders exceeding sales for sixth consecutive quarter
- Higher commercial infrared imaging component and surveillance system sales in Digital Imaging
- Stronger offshore energy and defense markets driving marine instrumentation growth
- Defense electronics sales increase of $57.1 million in Aerospace and Defense Electronics
- Incremental acquisition contribution of $55.6 million from Micropac and Qioptiq
- Favorable marine instrumentation product mix and improved margins
- Non-recurrence of unfavorable estimate changes in Engineered Systems
“We achieved record first quarter sales, non-GAAP operating margin, and adjusted earnings per share. First quarter sales reflected organic growth in every segment, coupled with the contribution from recent acquisitions. In addition, quarter-end backlog was an all-time record, as orders exceeded sales for the sixth consecutive quarter.”
Teledyne Technologies CEO, on the earnings call
What Was Teledyne Technologies's Outlook in Q1 2025?
For Q2 2025, management expects GAAP diluted EPS of $4.00 to $4.15 and non-GAAP diluted EPS of $4.95 to $5.05. For full year 2025, the company guides GAAP diluted EPS of $17.35 to $17.83 and maintains non-GAAP diluted EPS of $21.10 to $21.50. Management is maintaining prior earnings outlook despite strong Q1 results given the 'very unpredictable environment.' The non-GAAP outlook excludes acquired intangible asset amortization and acquisition/integration costs.
TDY YoY Financials
| Metric | Q1 2025 | Q1 2024 | Year over year |
|---|---|---|---|
| Revenue | $1.4B | $1.4B | +7.4% |
| Gross Profit | $619.5M | $579.9M | +6.8% |
| Operating Income | $259.3M | $234.3M | +10.7% |
| Net Income | $188.6M | $178.5M | +5.7% |
TDY Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.