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TE Connectivity forecasts Q2 profit below expectations as demand uncertainty weighs
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TE Connectivity forecasts Q2 profit below expectations as demand uncertainty weighs
Jan 22, 2025 4:51 AM

Jan 22 (Reuters) - TE Connectivity ( TEL ) forecast

second-quarter profit below analysts' expectations on Wednesday,

as the sensor maker continues to face demand uncertainty in its

largest division, the transportation unit.

The transportation segment, which produces components for

automotive technologies, saw sales decline by 6.3% to $2.24

billion, making up 58.4% of the total revenue for the quarter.

The Galway, Ireland-based company expects an adjusted profit

of about $1.96 per share for the current quarter, compared with

analysts' estimates of $1.98 per share, according to data

compiled by LSEG.

It reported an adjusted profit of $1.95 per share for the

quarter ended December 27, beating analysts' estimates of $1.89

per share, helped by strong sales in its industrial solutions

segment.

Total net sales for the quarter stood at $3.83 billion,

missing analysts' estimates of $3.9 billion, partly due to

unfavorable currency exchange impacts.

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