Teledyne Technologies, a sensing-systems maker, has raised its 2026 profit forecast due to robust demand in its digital imaging, instrumentation, and aerospace and defense segments.
Strong Demand Drives Growth
The company, which benefits from elevated demand for defense and surveillance equipment amid heightened geopolitical tensions, reported better-than-expected quarterly profit and revenue. Shares of Teledyne rose nearly 3% before the bell.
According to CEO Robert Mehrabian, “Organic growth was greatest in our Digital Imaging segment, where infrared detectors and systems for space and airborne and marine unmanned systems, as well as counter unmanned applications, each increased considerably.” The company achieved growth in its other segments and each product line within the Instrumentation segment.
Teledyne now expects full-year adjusted profit between $24.45 and $24.65 per share, compared with its prior range of $23.85 to $24.15. On an adjusted basis, Teledyne earned $6.28 per share in the quarter ended June 28, compared with estimates of $5.80 a share.
The Thousand Oaks, California-based company posted a 9.8% year-on-year rise in second-quarter revenue to $1.66 billion, compared with estimates of $1.58 billion.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
