Teledyne (TDY) Q1 2025 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Wed, April 22, 2026 astatine 10:43 AM CDT 39 min read

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Wednesday, Apr. 23, 2025 astatine 11 a.m. ET

• Executive Chairman — Robert Mehrabian

• President — Edwin Roks

• Chief Operating Officer — George Bobb

• Chief Financial Officer — Steve Blackwood

• Vice Chairman — Jason VanWees

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Robert Mehrabian: Thank you, Jason, and bully morning, everyone, and convey you for joining our net call. In the archetypal quarter, we achieved galore records, including archetypal 4th full sales, which accrued 7.4%, accelerating for 2 quarters successful a enactment and increasing astatine the top complaint successful years. Sales besides accrued organically successful each segment. Furthermore, non-GAAP net per stock and GAAP net per stock and operating -- non-GAAP operating borderline were besides a grounds for immoderate archetypal quarter. We're pleased to adjacent the Qioptiq carve-out acquisition successful the archetypal quarter, but I should enactment besides that a fewer months earlier closing, Qioptiq was awarded large caller contracts with some the U.K. and German Ministry of Defense resulting successful multiyear acquired backlog.

In immoderate event, adjacent excluding this acquired backlog, orders for Teledyne arsenic a full exceeded income for the sixth consecutive quarter. We proceed to execute our strategy, which has delivered semipermanent results careless of economical and governmental uncertainty; that is, maintained a balanced and resilient premix of commercialized and authorities businesses crossed a wide scope of geographies and markets and we proceed to amended margins successful existing businesses and get and integrate complementary companies. Before further commenting connected the quarter, I wanted to connection immoderate position fixed the existent unpredictable operating environment. While we're going to absorption connected what we tin control, it's worthy noting the following.

Teledyne has ne'er believed that offshoring U.S. manufacturing and exertion was a omniscient action. As a result, we person small low-cost state manufacturing, we are a nett exporter, and astir of our outer income are produced and sold wrong regions. To beryllium specific, astir 80% of our income are from U.S.-based locations to U.S.-based customers oregon our planetary locations to planetary customers. Of the remaining 20% of full sales, astir 80%, oregon astir 16% of the total, are U.S. export income to planetary locations, but lone 2% of full income are U.S. export income to China. Finally, conscionable 4% of outer income are from Teledyne planetary locations to U.S.-based customers wherever caller tariffs whitethorn use for our customers.