EarningsQ2 2026 Earnings Report
MX:TDY Q2 2026 EPS Results
Actual EPS$114.06
Consensus EPS$105.23
Beat/MissBeat by +$8.83
One Year Ago EPS$94.44
MX:TDY Q2 2026 Revenue Results
Actual Revenue$30.19B
Expected Revenue$28.67B
Beat/MissBeat by +$1.53B
YoY Revenue Growth+9.82%
Earnings Announcement Details
QuarterQ2 2026
Date07/22/2026
TimeBefore Open
Conference CallWednesday, July 22, 2026
MX:TDY Upcoming Earnings
Teledyne Technologies's next earnings date is estimated for October 28, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:TDY Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operational and financial momentum: record orders, double-digit growth in key areas (Digital Imaging), raised full-year revenue and EPS outlook, improved cash flow and materially lower leverage. Headwinds are mostly manageable and include segment mix-related margin pressure, some transient one-time items (tariff refunds versus higher R&D and reserves), supply-chain risks for critical materials (germanium, rare-earth magnets), and conservative near-term guidance due to tough comps and macro/supply uncertainties. Overall, positives materially outweigh the negatives.Company Guidance
Record Quarterly Results
Company reported the strongest quarterly orders, sales and operating profit in its history: sales up 9.8% year-over-year and non-GAAP earnings up 20.8%. Orders have exceeded sales for the 11th consecutive quarter and funded backlog ended June at approximately $5.0 billion.
Raised Full-Year Outlook
Management increased 2026 revenue outlook by ~$120 million versus April (to just over $6.53 billion, roughly a ~7% uplift versus prior guidance) and raised full-year non-GAAP EPS midpoint by $0.55. Full-year EPS guidance: GAAP $20.73–$20.99, non-GAAP $24.45–$24.65.
Digital Imaging Outperformance
Digital Imaging sales +12.7% (11.9% organic). Infrared detectors and subsystems (space, airborne, maritime, counter-UAS) increased >20%. Segment non-GAAP operating margin improved 353 basis points to 25%; tariff refunds contributed about $10M (≈120 bps of the margin improvement).
Strong Cash Generation and Lower Leverage
Q2 operating cash flow $315.2M vs $226.6M prior year; free cash flow $284.7M vs $196.3M prior year. Capital expenditures modest at $30.5M. Net debt $1.69B and net leverage ~1.1x (lowest in ~6 years); management expects leverage could fall toward ~$1.0B by year-end.
Broad-Based Segment Revenue Growth
Segment performance: Instrumentation sales +5.5% (marine +5.7%, interconnects for submarines ~+20%), Aerospace & Defense Electronics +8.2%, Engineered Systems +8.4% with Engineered Systems operating margin up 166 basis points. Test & measurement sales +4.3% and sequential improvement in instrumentation margins (segment +160 bps sequentially).
Orders / Book-to-Bill Strength
Book-to-bill for the quarter was ~1.23x overall, with Digital Imaging above ~1.4x, signaling ongoing demand and backlog growth that supports near-term visibility.
Unmanned and Space Businesses Expand
Unmanned business expected to grow from ~$500M in 2025 to about ~$575M in 2026 (≈+12%). Space business noted accelerating growth and expected to be over $400M (management referenced ~$400–$450M).
Active M&A Capacity and Capital Flexibility
Management highlighted ample acquisition capacity: ~$1.2B unused credit facility, ability to deploy substantially more (management referenced ~ $4B+ potential), and >$1B spent on acquisitions in the past ~2 years. Leverage and cash flow provide flexibility to pursue strategic deals.
MX:TDY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed