TE Connectivity FY2026: record $19.89 billion sales, 80% GAAP EPS jump
TE Connectivity closed fiscal 2026 with record full-year sales of $19.89 billion, a $22.2 billion order book and free cash flow of $3.41 billion, and guided the December quarter to about $5.35 billion in sales. The quarter itself was a modest beat: adjusted EPS of $3.14 against a $3.101 consensus, on sales of $5.31 billion. The catch is margin: gross margin slipped from 37.2% to 35.5% across the year even as sales rose.
1 · Expected vs. Actual
Free preview belowFourth-quarter GAAP EPS was $3.10 and adjusted EPS was $3.14, a 21.0% increase and a small beat against the $3.101 consensus figure in our data. Full-year GAAP EPS of $11.07 looks like 80.0% growth, but much of that is last year's tax valuation charge washing out; adjusted EPS of $11.52, up 24.0%, is the honest growth rate. The bridge between the two also shows what gets excluded: $227 million of amortization and $117 million of restructuring.
Fourth-quarter sales were a record $5.31 billion, up 11.9% as reported and 13.4% organically, and the two segments added up to $5.40 billion before an $87 million tariff-refund reconciling item. For the full year, sales of $19.89 billion came with orders of $22.2 billion, up 27.0%, while Industrial Solutions grew 25.8% to $9.90 billion and Transportation Solutions grew 7.3% to $10.07 billion. Growth is real, but the order book, not the revenue line, is what supports fiscal 2027.
Management guided the December quarter to sales of about $5.35 billion, up 15.0% year over year on both a reported and organic basis, with GAAP EPS of about $3.04 and adjusted EPS of about $3.30. For the full year it promised double-digit sales growth and organic growth similar to fiscal 2026, plus more than 20.0% EPS growth in the first quarter only. There is no full-year EPS number and no gross margin target, so the outlook is directional rather than a hard commitment.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-10
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