Teledyne's Q3 results beat on digital imaging segment strength; raises FY profit forecast
TDY•Teledyne reported Q3 sales of $1.68 billion, up 9.4% year over year, and adjusted EPS of $6.72, both above consensus. It raised its 2026 GAAP EPS forecast to $21.71-$21.87 and non-GAAP EPS forecast to $25.40-$25.50, and announced a pending $1.1 billion acquisition of Varex Imaging.
1. Quarterly results
Teledyne's third-quarter sales rose 9.4% year over year to $1.68 billion, beating the $1.65 billion consensus estimate. Adjusted EPS increased 20.6% year over year to $6.72, above the $6.17 consensus; GAAP EPS was $5.82.
2. Forecast raised
The company raised its 2026 GAAP EPS outlook to $21.71-$21.87 from $20.73-$20.99 and its non-GAAP EPS forecast to $25.40-$25.50 from $24.45-$24.65. Teledyne expects fourth-quarter 2026 GAAP EPS of $5.68-$5.83 and non-GAAP EPS of $6.60-$6.70.
3. Imaging demand
Teledyne said growth was led by higher sales of infrared detectors and subsystems for space, unmanned and commercial imaging applications. Higher sales of infrared imaging detectors, maritime products and surveillance systems, along with a more favorable product mix, contributed to results. The company also announced a pending $1.1 billion acquisition of Varex Imaging.
