Sector: Technology|Industry: Electronic Components|Market Cap: $43.31B|Employees: 87K
TE Connectivity is a global industrial technology leader specializing in connectivity and sensor solutions. Their core business model revolves around enabling the distribution of power, signal, and data across various industries, including transportation, renewable energy, and medical technology. The company maintains a strong market position with a broad range of products and a global presence, serving customers in over 130 countries.
Net sales for the quarter ended December 27, 2024, were $3,836 million, compared to $3,831 million for the quarter ended December 29, 2023, indicating a flat performance. This consistency suggests stable demand across the company's overall product portfolio.
Gross margin increased to $1,360 million compared to $1,324 million in the prior year. This increase is attributed to higher volume, partially offset by price erosion, indicating improved operational efficiency or pricing strategies.
Net income decreased to $528 million from $1,803 million in the prior year, driven by changes in income tax expense (benefit). This decline raises concerns about profitability and the impact of tax-related items on the bottom line.