Record Operating Margins and Earnings Growth
TE Connectivity achieved record operating margins, earnings per share, and free cash flow for fiscal 2024. Adjusted operating margins expanded by 220 basis points year-over-year, and adjusted EPS increased by 12% despite headwinds.
Strong Performance in Communications Segment
The Communications segment experienced significant growth, with Data and Devices business growing 35% organically. AI revenues reached $300 million, exceeding expectations, and are expected to double in fiscal 2025.
Robust Cash Flow and Shareholder Returns
TE Connectivity generated record free cash flow of approximately $2.8 billion, up 17% year-over-year. The company returned $2.8 billion to shareholders through share buybacks and dividends and announced a $2.5 billion increase in its share repurchase program.