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02.11.2022 11:14:00

TE Connectivity Sees Q1 Earnings, Net Sales Below Market - Update

(RTTNews) - While announcing weak profit and higher sales in its fourth quarter, TE Connectivity Ltd. (TEL), a Swiss industrial technology company, on Wednesday issued outlook for its first quarter, expecting earnings and net sales below market estimates.

For the first quarter, the company expects earnings per share from continuing operations to be approximately $1.31, with adjusted earnings per share of approximately $1.50.

On average, four analysts polled by Thomson Reuters expect earnings of $1.73 per share for the quarter. Analysts' estimates typically exclude special items.

For the first quarter, the company expects net sales of approximately $3.75 billion, reflecting a decrease of 2% on a reported basis and an increase of 9% on an organic basis year over year.

Analysts estimate net sales of $3.9 billion for the quarter.

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