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    Teledyne Technologies Inc (TDY)

    Q2 2024 Earnings Summary

    Reported on Jan 4, 2025 (Before Market Open)
    Pre-Earnings Price$402.17Last close (Jul 23, 2024)
    Post-Earnings Price$419.00Open (Jul 24, 2024)
    Price Change
    $16.83(+4.18%)
    • Teledyne achieved a strong overall book-to-bill ratio of 1.07, with the Aerospace and Defense segment reaching 1.41, indicating future revenue growth driven by strong demand in these markets.
    • The Marine Instrumentation business is experiencing robust growth, driven by offshore oil exploration and defense underwater vehicles, with near capacity levels and businesses "doing really well."
    • The company is generating significant free cash flow, with $576 million in the first half and expecting over $900 million for the year, allowing for continued share repurchases and acquisitions to enhance shareholder value.
    • The Machine Vision business experienced a significant decline, with sales down 30% year-over-year in Q1 and Q2, and is expected to be down about 20% for the full year.
    • The Test and Measurement segment is facing challenges, with expectations of a 10% decline for the year, primarily due to lagging oscilloscope sales.
    • The Digital Imaging segment shows potential weakness, with a book-to-bill ratio below 1 at 0.98 , and margins are expected to decrease modestly by 20-30 basis points for the year due to headwinds in certain businesses.