TE Connectivity forecasts Q2 profit below expectations as demand uncertainty weighs

TE Connectivity

22/01/2025 12:22

Jan 22 (Reuters) - TE Connectivity  TEL.N  forecast
second-quarter profit below analysts' expectations on Wednesday,
as the sensor maker continues to face demand uncertainty in its
largest division, the transportation unit.
    The transportation segment, which produces components for
automotive technologies, saw sales decline by 6.3% to $2.24
billion, making up 58.4% of the total revenue for the quarter.
    The Galway, Ireland-based company expects an adjusted profit
of about $1.96 per share for the current quarter, compared with
analysts' estimates of $1.98 per share, according to data
compiled by LSEG.
    It reported an adjusted profit of $1.95 per share for the
quarter ended December 27, beating analysts' estimates of $1.89
per share, helped by strong sales in its industrial solutions
segment.
    Total net sales for the quarter stood at $3.83 billion,
missing analysts' estimates of $3.9 billion, partly due to
unfavorable currency exchange impacts.

 (Reporting by Anshuman Tripathy in Bengaluru; Editing by Tasim
Zahid)
 ((Anshuman.Tripathy@thomsonreuters.com;))