Digital imaging and instrumentation provider Teledyne (NYSE: TDY) will be reporting earnings this Wednesday before market hours. Here’s what to look for.
Teledyne beat analysts’ revenue expectations last quarter, reporting revenues of $1.61 billion, up 7.3% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ adjusted operating income estimates.
Is Teledyne a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Teledyne’s revenue to grow 4.5% year on year, slowing from the 7.4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Teledyne rarely misses Wall Street’s revenue estimates.
Looking at Teledyne’s peers in the electrical equipment segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Badger Meter’s revenues decreased 9% year on year, missing analysts’ expectations by 12.5%, and Acuity Brands reported revenues up 4.9%, falling short of estimates by 2.5%. Badger Meter traded down 25.6% following the results while Acuity Brands was also down 6.5%.
Read our full analysis of Badger Meter’s results here and Acuity Brands’s results here.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 11.6% on average over the last month. Teledyne is up 3.5% during the same time and is heading into earnings with an average analyst price target of $705.23 (compared to the current share price of $645.72).
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