10:22 AM EDT, 10/30/2024 (MT Newswires) -- (Updates with information about the share repurchase program in the sixth paragraph and the latest stock price movement in the seventh paragraph.)

TE Connectivity ( TEL ) reported fiscal Q4 adjusted earnings Wednesday of $1.95 per diluted share, up from $1.78 a year earlier.

Analysts polled by Capital IQ expected $1.94.

Net sales for the quarter ended Sept. 27 were $4.07 billion, up from $4.04 billion a year earlier.

Analysts surveyed by Capital IQ expected $4 billion.

For fiscal Q1, the company expects adjusted EPS of $1.88 on net sales of about $3.9 billion. Analysts polled by Capital IQ expect $1.89 on $3.94 billion.

TE Connectivity ( TEL ) said its board authorized a $2.5 billion increase in its share repurchase program.

The company's shares were down 2.4% in recent trading.

Price: 148.95, Change: -3.69, Percent Change: -2.42