Teledyne reports Q3 non-GAAP EPS $5.10, consensus $4.97

Reports Q3 revenue $1.44B, consensus $1.42B. “Teledyne (TDY) achieved all-time record orders and sales in the Q3,” said Robert Mehrabian, Executive Chairman. “Revenue was sequentially greater in each segment, allowing us to report overall year-over-year growth as we expected. We continue to see robust demand in our longer cycle defense, space, and energy businesses. Furthermore, sales for most of our shorter cycle commercial businesses have stabilized or are recovering, and year-over-year comparisons have just begun to ease. We opportunistically repurchased $354M of stock over the last several months, and we will continue to evaluate share repurchases against acquisitions, for which the pipeline has recently improved.”