05:22 PM EDT, 04/29/2024 (MT Newswires) -- Sensata Technologies ( ST ) reported Q1 adjusted earnings late Monday of $0.89 per diluted share, down from $0.92 a year earlier.

Analysts polled by Capital IQ expected $0.85.

Revenue for the quarter ended March 31 was $1.01 billion, up from $998.2 million a year earlier.

Analysts surveyed by Capital IQ expected $986.3 million.

The company expects Q2 adjusted EPS between $0.89 and $0.95 on revenue between $1.025 billion and $1.055 billion.

Analysts polled by Capital IQ expect $0.92 and $1.04 billion.

Separately, Sensata ( ST ) said late Monday that Chief Executive Officer and President Jeff Cote has informed the board of his plans to retire as CEO and president and step down as a board member.

The board has named Martha Sullivan as interim CEO and president, the company said. Sullivan has been a director on the board since 2013 and was the company's CEO and president from 2013 to 2020.

The company also said that after a "constructive dialogue" with shareholder Elliott Investment Management, Sensata ( ST ) has appointed Phillip Eyler to the board.

Sensata ( ST ) said it has signed a cooperation agreement with Elliott, and an information-sharing agreement, to "facilitate an ongoing dialogue between Elliott and the Board as both seek to drive sustainable value creation for all Sensata ( ST ) shareholders."

Sensata ( ST ) shares were rising past 16% in recent after-hours activity.

Price: 41.82, Change: +6.06, Percent Change: +16.95