Q4 2024 TE Connectivity PLC Earnings Call Transcript
Key Points
- TE Connectivity PLC (TEL) delivered revenue and adjusted earnings per share ahead of guidance, driven by solid execution across segments.
- The company achieved record operating margins, earnings per share, and free cash flow for fiscal 2024.
- TE Connectivity PLC (TEL) benefited from strategic positioning in electrification, data connectivity, renewable energy, and aerospace and defense markets.
- The company announced a $2.5 billion increase to its share repurchase program, reinforcing its value creation model.
- Strong performance in the Communications segment, with AI-related sales exceeding expectations and expected to double in fiscal 2025.
- Global auto production was flat in fiscal 2024, with declines expected in fiscal 2025, particularly impacting Western markets.
- Ongoing weakness in factory automation and building automation, especially in Europe, affecting the Industrial segment.
- Commercial transportation markets continue to decline, with potential improvement not expected until later in 2025.
- Currency exchange and tax headwinds impacted adjusted earnings per share by $0.39.
- The Sensors business faced declines due to market weakness and portfolio optimization efforts, with exits expected to continue into 2025.
Everyone, thank you for standing by, and welcome to the TE Connectivity Fourth Quarter and Final Year Fiscal 2024. (Operator Instructions) As a reminder, today's call is being recorded.
I'd now like to turn the call over to our host, Vice President of Investor Relations, Sujal Shah. You may now begin.
Good morning, and thank you for joining our conference call to discuss TE Connectivity's fourth quarter and full year 2024 results and outlook for our first quarter of fiscal 2025. With me today are Chief Executive Officer, Terrence Curtin; and Chief Financial Officer, Heath Mitts. .
During this call, we will be providing certain forward-looking information, and we ask you to review the forward-looking cautionary statements included in today's press release. In addition, we will use certain non-GAAP measures in our discussion this morning, and we ask you to review the sections of our press release and the accompanying slide presentation that address the use of these items. The press release and related tables
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