TE Connectivity reports Q1 adjusted EPS $2.72, consensus $2.55

Reports Q1 revenue $4.67B, consensus $4.54B. Reports record orders of $5.1B, an increase of 28% year over year and 9% sequentially. “Our teams delivered strongly against our strategy, resulting in first quarter earnings growth over 30% and sales growth of more than 20%, both of which were above our guidance and driven by growth in both segments,” said CEO Terrence Curtin. “We continue to benefit from a broadening of growth from our investments in data and power connectivity in key applications such as AI, energy grid hardening and next generation vehicles that are driving our auto content growth above market. Our positioning and team execution resulted in record quarterly orders of over $5 billion, setting up TE for another year of strong growth and margin expansion.