Overview
- TE Connectivity forecast adjusted profit of $2.83 per share for the current quarter, topping the $2.80 consensus compiled by LSEG.
- Chief Executive Terrence Curtin said disruptions tied to the Iran war are lifting freight rates and resin prices, which could force customer price increases to protect margins.
- For the quarter ended March 27, the company reported adjusted earnings of $2.73 per share versus $2.70 expected, with revenue of $4.74 billion compared with $4.76 billion forecast.
- Industrial solutions sales rose 27% year over year on demand for AI equipment and power infrastructure for data centers, and transportation solutions net sales increased 4.7%.
- Reuters reported that rising prices for plastics and polymers due to disrupted oil and petrochemical flows are prompting companies across the sector to use pricing and operational mitigations.