Record-Breaking Financial Metrics
Teledyne reported all-time record quarterly sales with a 6.7% increase from last year, non-GAAP earnings per share increased by 9.2%, and free cash flow reached a record $314 million.
Digital Imaging Segment Growth
Digital Imaging segment sales increased by 2.2%, with Teledyne FLIR sales continuing to grow and a modest increase in DALSA and e2v businesses.
Aerospace and Defense Electronics Surge
Third quarter sales in the Aerospace and Defense Electronics segment increased by 37.6%, primarily driven by acquisitions and organic growth in defense electronics products.
Strong Cash Flow and Balance Sheet
Cash flow from operating activities was $343.1 million, and free cash flow was a record $313.9 million. The balance sheet is the strongest since the FLIR acquisition in 2021.
Positive Outlook for Defense Contracts
Teledyne is pursuing significant contract opportunities, including unmanned aerial systems and other defense programs, with backlog growth in Teledyne FLIR.