Teledyne announces improved preliminary Q4 and full 2020 year results
Teledyne Technologies Incorporated (NYSE:TDY) announced its preliminary results for the fourth quarter and full year 2020.
Teledyne’s management expects to report fourth quarter sales of approximately $800 million. In addition, fourth quarter GAAP diluted earnings per share are expected to be in the range of $3.16 to $3.19, an all-time record for any quarterly period and compared with the prior outlook of $2.56 to $2.86. GAAP operating margin in the fourth quarter is expected to be approximately 17.5%, also an all-time record for any quarter.
Including certain restructuring and other pretax charges totaling approximately $32.4 million, Teledyne’s management expects full year GAAP diluted earnings per share to be in the range of $10.30 to $10.33, compared with the prior outlook of $9.70 to $10.00.
Finally, Teledyne’s management expects to achieve record cash flow for both the fourth quarter and full year 2020, ending the year with approximately $115 million of net debt.
About Teledyne
Teledyne is a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems. Teledyne’s operations are primarily located in the United States, Canada, the United Kingdom, and Western and Northern Europe.