Teledyne reports Q2 non-GAAP EPS $4.67, consensus $4.64

Reports Q2 revenue $1.42B, consensus $1.41B. “In the Q2, we achieved all-time record quarterly sales. Furthermore, sales as well as GAAP and non-GAAP operating margins increased year-over-year in every segment,” said Robert Mehrabian, Chairman, President and CEO. “Both orders and quarter-end backlog were nearly records driven by our Digital Imaging segment especially Teledyne FLIR. Nevertheless, we have begun further integration and facility consolidation activities, as we accelerate the relocation of select Teledyne FLIR operations to existing sites. Including continued debt repayment through July, our consolidated leverage ratio declined to 2.1x, and we continue to seek disciplined capital deployment including acquisitions.”