TELEDYNE TECHNOLOGIES INCORPORATED SUMMARY OF SEGMENT NET SALES AND OPERATING INCOME FOR THE SECOND QUARTER AND SIX MONTHS ENDED JUNE 30, 2024 AND JULY 2, 2023 (Unaudited - $ in millions) |
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|
|
Second
|
|
Second
|
|
%
|
|
Six
|
|
Six
|
|
%
|
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|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
2024 |
|
|
|
2023 |
|
|
||||
Net sales: |
|
|
|
|
|
|
|
|
|
|
|
|
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Digital Imaging |
|
$ |
739.4 |
|
|
$ |
793.3 |
|
|
(6.8 |
)% |
|
$ |
1,480.2 |
|
|
$ |
1,565.8 |
|
|
(5.5 |
)% |
Instrumentation |
|
|
333.5 |
|
|
|
328.4 |
|
|
1.6 |
% |
|
|
663.9 |
|
|
|
661.9 |
|
|
0.3 |
% |
| Aerospace and Defense Electronics |
|
|
194.4 |
|
|
|
186.0 |
|
|
4.5 |
% |
|
|
380.1 |
|
|
|
359.2 |
|
|
5.8 |
% |
| Engineered Systems |
|
|
106.8 |
|
|
|
117.0 |
|
|
(8.7 |
)% |
|
|
200.0 |
|
|
|
221.1 |
|
|
(9.5 |
)% |
| Total net sales |
|
$ |
1,374.1 |
|
|
$ |
1,424.7 |
|
|
(3.6 |
)% |
|
$ |
2,724.2 |
|
|
$ |
2,808.0 |
|
|
(3.0 |
)% |
| Operating income (loss): |
|
|
|
|
|
|
|
|
|
|
|
|
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| Digital Imaging |
|
$ |
113.5 |
|
|
$ |
124.6 |
|
|
(8.9 |
)% |
|
$ |
227.3 |
|
|
$ |
246.8 |
|
|
(7.9 |
)% |
| Instrumentation |
|
|
87.2 |
|
|
|
81.4 |
|
|
7.1 |
% |
|
|
173.2 |
|
|
|
162.1 |
|
|
6.8 |
% |
| Aerospace and Defense Electronics |
|
|
57.1 |
|
|
|
53.2 |
|
|
7.3 |
% |
|
|
109.0 |
|
|
|
100.2 |
|
|
8.8 |
% |
| Engineered Systems |
|
|
7.5 |
|
|
|
11.5 |
|
|
(34.8 |
)% |
|
|
10.2 |
|
|
|
21.5 |
|
|
(52.6 |
)% |
| Corporate expense |
|
|
(18.3 |
) |
|
|
(14.6 |
) |
|
25.3 |
% |
|
|
(38.4 |
) |
|
|
(32.0 |
) |
|
20.0 |
% |
| Operating income (loss) |
|
|
247.0 |
|
|
|
256.1 |
|
|
(3.6 |
)% |
|
|
481.3 |
|
|
|
498.6 |
|
|
(3.5 |
)% |
| Interest and debt income (expense), net |
|
|
(15.8 |
) |
|
|
(22.3 |
) |
|
(29.1 |
)% |
|
|
(28.5 |
) |
|
|
(43.3 |
) |
|
(34.2 |
)% |
| Gain (loss) on debt extinguishment |
|
|
— |
|
|
|
1.6 |
|
|
(100.0 |
)% |
|
|
— |
|
|
|
1.6 |
|
|
(100.0 |
)% |
| Non-service retirement benefit income (expense), net |
|
|
2.7 |
|
|
|
2.9 |
|
|
(6.9 |
)% |
|
|
5.4 |
|
|
|
6.2 |
|
|
(12.9 |
)% |
| Other income (expense), net |
|
|
(2.2 |
) |
|
|
(3.4 |
) |
|
(35.3 |
)% |
|
|
(1.0 |
) |
|
|
(4.5 |
) |
|
(77.8 |
)% |
| Income (loss) before income taxes |
|
|
231.7 |
|
|
|
234.9 |
|
|
(1.4 |
)% |
|
|
457.2 |
|
|
|
458.6 |
|
|
(0.3 |
)% |
| Provision (benefit) for income taxes |
|
|
51.4 |
|
|
|
49.4 |
|
|
4.0 |
% |
|
|
97.8 |
|
|
|
94.3 |
|
|
3.7 |
% |
| Net income (loss) including noncontrolling interest |
|
|
180.3 |
|
|
|
185.5 |
|
|
(2.8 |
)% |
|
|
359.4 |
|
|
|
364.3 |
|
|
(1.3 |
)% |
| Less: Net income (loss) attributable to noncontrolling interest |
|
|
0.1 |
|
|
|
0.2 |
|
|
(50.0 |
)% |
|
|
0.7 |
|
|
|
0.3 |
|
|
133.3 |
% |
| Net income (loss) attributable to Teledyne |
|
$ |
180.2 |
|
|
$ |
185.3 |
|
|
(2.8 |
)% |
|
$ |
358.7 |
|
|
$ |
364.0 |
|
|
(1.5 |
)% |
|
Teledyne Technologies Reports Second Quarter Results
This condensed consolidated financial statement was prepared in accordance with U.S. GAAP.
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