TE Connectivity participates in a conference call hosted by Jefferies » 12:3910/2910/29/20
Jefferies holds a…
Jefferies holds a conference call with CEO Curtin on November 4.
Colfax sees Q4 adjusted EPS 45c-50c, consensus 50c 06:1210/2910/29/20
Colfax acquires certain extremity product lines from Stryker for $15M » 06:1210/2910/29/20
Colfax (CFX) announced…
Colfax (CFX) announced the signing of an agreement to acquire certain extremity product lines from Stryker (SYK) for cash consideration of $15M. Sales are expected to be approximately $20M in the first full year following the close of the transaction, which is expected to occur in the fourth quarter, subject to customary closing conditions.
Colfax reports Q3 adjusted EPS 41c, consensus 39c » 06:1010/2910/29/20
Reports Q3 revenue $806M,…
Reports Q3 revenue $806M, consensus $762.21M.
PURO Lighting announces strategic new alliance with Acuity Brands » 08:1410/2810/28/20
PURO UV Disinfection…
PURO UV Disinfection Lighting announces a new strategic alliance with Acuity Brands. This strategic alliance builds on agreements already in place with PURO Lighting's technology partner Violet Defense and will allow Acuity Brands access to Violet Defense's patented, pulsed-xenon UV technology. Through this relationship, PURO Lighting will able to leverage the extensive supply chain capabilities of Acuity Brands, work with Acuity as the contract manufacturer for PURO-branded disinfection products, and scale production to make PURO Lighting products more accessible and affordable in an increasingly active and competitive marketplace. Additionally, PURO Lighting and Acuity Brands will immediately begin co-developing the next generation of new and innovative UV technology products.
TE Connectivity sees Q1 adj. EPS $1.25, consensus $1.05 » 06:0610/2810/28/20
Sees Q1 revenue $3.2B,…
Sees Q1 revenue $3.2B, consensus $3.03B. The company said, "For the first quarter of fiscal 2021, the company expects net sales of approximately $3.2 billion, reflecting an increase of 1% on a reported basis and down 2% on an organic basis year over year. GAAP EPS from continuing operations are expected to be approximately $0.83, with adjusted EPS of approximately $1.25."
TE Connectivity reports Q4 adj. EPS $1.16, consensus 84c » 06:0510/2810/28/20
Reports Q4 revenue…
Reports Q4 revenue $3.26B, consensus $2.87B. "I am proud of our employees for delivering fourth quarter results well above our expectations, exiting the year with sequential sales growth in all segments. In particular, our Transportation segment was up nearly 50% from last quarter, driven by a recovery in auto production and our continued outperformance versus the market due to our strong position in hybrid and electric vehicle platform technology," said TE Connectivity CEO Terrence Curtin. "Our global manufacturing strategy and acceleration of our cost reduction activities enabled us to meet our commitments to our customers as they continue to navigate the impacts of COVID-19. Our full year results demonstrate strong cash flow generation and our portfolio is well positioned. While the markets remain uncertain, we do expect our first quarter of 2021 to be back to pre-COVID revenue levels and we expect an increase in profitability with year-over-year adjusted margin and EPS growth."
Hubbell price target raised to $180 from $175 at Stephens » 15:3910/2710/27/20
Stephens analyst Tommy…
Stephens analyst Tommy Moll raised the firm's price target on Hubbell to $180 from $175 and keeps an Overweight rating on the shares after the company reported Q3 results. The analyst noted that the company had "strong execution" in the quarter," adding that, across end markets, T&D and residential lighting remain constructive, while Aclara, heavy industrial and non-residential continue to be challenged amid the pandemic.
Hubbell raises FY20 adj. EPS view $7.45-$7.60 from $7.00-$7.25, consensus $7.22 » 07:3410/2710/27/20
For the full year 2020,…
For the full year 2020, Hubbell now anticipates earnings per diluted share in the range of $6.30-$6.45 and adjusted diluted earnings per share in the range of $7.45-$7.60. Adjusted EPS excludes amortization of acquisition-related intangible assets, which the Company expects to be approximately $1.00 for the full year. The Company believes Adjusted EPS is a useful measure of underlying performance in light of our acquisition strategy. The earnings per share and adjusted earnings per share ranges are based on an adjusted tax rate of 22-23% and continue to include approximately 40c per share of anticipated restructuring and related investment. The ranges also incorporate the impact of a previously completed divestiture and previously completed acquisitions, the net of which is expected to be a modest tailwind to 2020 adjusted EPS. The Company expects free cash flow to be approximately $550M in 2020.
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Acuity Brands files automatic mixed securities shelf 17:2810/2310/23/20