TE Connectivity Ltd. Reports Rise In Q4 Bottom Line

TE Connectivity Ltd. (TEL) reported earnings for its fourth quarter that rose from last year.

The company’s earnings totaled $794 million, or $2.40 per share. This compares with $230 million, or $0.69 per share, in last year’s fourth quarter.

Excluding items, TE Connectivity Ltd. reported adjusted earnings of $560 million or $1.69 per share for the period.

The company’s revenue for the quarter rose 17.2% to $3.82 billion from $3.26 billion last year.

TE Connectivity Ltd. earnings at a glance:

-Earnings (Q4): $560 Mln. vs. $385 Mln. last year.
-EPS (Q4): $1.69 vs. $1.16 last year.
-Revenue (Q4): $3.82 Bln vs. $3.26 Bln last year.

-Guidance:
Next quarter EPS guidance: $1.60
Next quarter revenue guidance: $3.7 Bln

Ecolab Q3 Profit Tops Estimates; Sales Up 10%

Ecolab (ECL) said its third quarter adjusted earnings per share from continuing operations were up 20% from last year. The company said the strong increase reflects the accelerated pricing and volume growth that more than offset significantly higher delivered product costs, and a lower than estimated unfavorable impact from Hurricane Ida of $0.03 per share. Reported sales from continuing operations were up 10%.

Looking forward, Ecolab continues to expect strong year-on-year growth in the fourth quarter led by increased volume and price momentum. The company expects fourth quarter earnings to grow double digits, though not as strongly as the third quarter.

Ecolab continues to expect the full year 2021 to show a strong increase over 2020, more than offsetting the delivered product and other cost increases which are estimated to reach a combined unfavorable impact approximating $0.90 per share in the current year, most of which the company has mitigated.

Third quarter adjusted earnings per share from continuing operations was $1.38, compared to $1.15, last year. On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $1.30, for the quarter. Analysts’ estimates typically exclude special items.

Net sales were $3.32 billion, up 10%. Analysts expected revenue of $3.27 billion, for the quarter. Fixed currency and acquisition adjusted fixed currency sales both increased 8%.

Stryker Lowers FY21 Outlook

Shares of Stryker Corp. (SYK) slipped over 3% in extended trading session on Thursday after the company lowered its full year 2021 outlook.

The company now expects full year organic net sales growth of 7% to 8% compared to 2019, and adjusted earnings of $9.08 to $9.15 per share.

Previously, the company expected organic net sales growth of 9% to 10% from 2019, and adjusted earnings of $9.25 to $9.40 per share.

Analysts currently estimate earnings of $9.30 per share for the quarter. Analysts’ estimates typically exclude one-time items.

The company said it revised its outlook based on third quarter performance, the volatility experienced as a result of COVID as well as the labor and staffing environment in healthcare.

SYK closed Thursday’s trading at $268.44, down $0.06 or 0.02%, on the NYSE. Post hours, the stock further slipped $8.64 or 3.22%.

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EssilorLuxottica Q3 Revenue Climbs; Lifts FY Revenue Growth View – Quick Facts

EssilorLuxottica S.A. (ESLOF.PK,ESLOY.PK) reported that its third-quarter revenue, including GrandVision, rose 34% year-over-year to 5.47 billion euros, while it was up 33.4% at constant exchange rates.

On a comparable basis, quarterly consolidated revenue, including GrandVision, was 5.465 billion euros up from 8.9% from the prior year.

EssilorLuxottica quarterly revenue, excluding GrandVision, was 4.46 billion euros, up 9.2% from the prior year.

The company upgraded its full year 2021 guidance. It now expects annual revenue growth to be mid-to-high single digit compared to 2019 at constant exchange rates. Previously, the company had expected revenue growth to be mid-single digit compared with 2019 at constant exchange rates.

The targets refer to the EssilorLuxottica perimeter, excluding GrandVision which has been consolidated since July 1, 2021.