Teledyne reports Q1 adjusted EPS $4.53, consensus $4.43

Reports Q1 revenue $1.38B, consensus $1.37B. "We began 2023 with record first quarter sales, operating margin and non-GAAP earnings. Overall sales increased 4.7% with revenue and operating profit growing in every segment," said Robert Mehrabian, Chairman, President and CEO. "Our healthcare-focused imaging businesses achieved all-time record sales and even stronger orders, while our longer-cycle marine, aerospace and government businesses, collectively, also performed well. Our shorter-cycle commercial imaging and instruments businesses remained resilient with sales in the majority of product families increasing compared with last year. Supply chain challenges improved and premiums paid for scarce electronic components declined. Finally, given record first quarter cash flow, our consolidated leverage ratio declined to 2.3x even after completing the ChartWorld acquisition."