Teledyne Technologies Incorporated (NYSE:TDY) announced its second quarter earnings results on Wednesday 22nd July 2020 before market open.
The reported $ 2.48 income per share for the quarter, beat the consensus estimate of $ 1.98 income per share by $ 0.50 or 25.25 percent.
The quarterly earnings declined 11.43 percent compared with the same quarter last year.
The firm had revenue of $ 743.30 million for the quarter, compared to the consensus estimate of $ 743.65 million. The revenues fell short of analysts estimates by $ 0.35 million or 0.05 percent.
The financial report showed revenues dropped 4.95 percent versus second quarter of last year.
Looking ahead, the company announced 3Q20 earnings estimate to a range of $ 2.25 ~ $ 2.45 per share, while wall street analysts expected 3Q20 income of $ 2.53 per share on revenue of $ 784.72 million.
Further, the company affirmed and narrowed 2020 earnings estimate from the previous range of $ 9.30 ~ $ 10.00 per share to a new range $ 9.45 ~ $ 10.00 per share.
The consensus estimates for 2020 are income of $ 9.58 per share from $ 3141.68 million in revenue.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss
