Sensata Technologies ( (ST) ) has released its Q3 earnings. Here is a breakdown of the information Sensata Technologies presented to its investors.
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Sensata Technologies is a global industrial technology company specializing in sensors, sensor-rich solutions, and electrical protection components used in mission-critical systems across automotive, heavy vehicle, industrial, and aerospace markets.
In its third-quarter 2024 financial results, Sensata Technologies reported a decrease in revenue and operating income compared to the same period in 2023, with notable charges impacting its financial statement, including goodwill impairment and restructuring costs.
Sensata’s revenue for the third quarter of 2024 was $982.8 million, down 1.8% from the previous year. The company reported an operating loss of $199.2 million, largely due to a $150 million goodwill impairment and $141 million in restructuring costs. Despite these setbacks, adjusted operating income slightly decreased by 1.7% to $188.4 million, maintaining a stable margin.
The company experienced a net loss per share of $0.17, influenced by a significant tax benefit. Sensata continues to generate free cash flow, recording $91.3 million this quarter. The company also returned $55.4 million to shareholders through dividends and share repurchases.
Looking ahead, Sensata forecasts a revenue range of $870 to $900 million for the fourth quarter of 2024, with adjusted earnings per share expected to range between $0.71 and $0.76. The company remains focused on enhancing operational efficiency and expanding margins to achieve better financial outcomes.
