TE Connectivity reports Q2 adjusted EPS $1.65, consensus $1.58

Reports Q2 revenue $4.16B, consensus $3.92B. Order levels were up sequentially to $4B. "We delivered sales and earnings ahead of expectations and generated very strong cash flow during the quarter in what remains a dynamic macro environment. This performance was due to the ongoing strong execution of our global teams and the strategic positioning of our portfolio," said TE Connectivity CEO Terrence Curtin. "In our Transportation and Industrial segments, we drove organic growth across all businesses and continue to see solid demand patterns in those segments. In particular, our Automotive business continues to outperform a flat auto market due to our leading global position in electric vehicles as our customers seek out our technology to enable an increasingly electrified world. In our Industrial segment, our Medical business delivered record quarterly sales and we are continuing to capitalize on growth momentum in renewable energy applications. While our Communications segment was impacted by weaker end markets and supply chain corrections as expected, our teams are securing design wins in data center and artificial intelligence applications that will drive future growth as those markets recover."