TE Connectivity said its fiscal 2024 net sales fell 1.2% from fiscal 2023, and were flat on an organic basis. The company said sales declines in Transportation Solutions and Industrial Solutions were partially offset by sales growth in Communications Solutions.

10-KAnnual reportFiled Nov 12, 2024Period of report Sep 27, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

TE Connectivity said its fiscal 2024 net sales fell 1.2% from fiscal 2023, and were flat on an organic basis. The company said sales declines in Transportation Solutions and Industrial Solutions were partially offset by sales growth in Communications Solutions.
The company said gross margin increased $401 million in fiscal 2024 compared with fiscal 2023, citing improved manufacturing productivity and the impact of pricing actions. It said selling, general, and administrative expenses increased $62 million over the same period.
Net cash provided by operating activities in fiscal 2024 was $3,477 million, up $345 million from $3,132 million in fiscal 2023, the company said. It cited higher pre-tax income as the main driver of the increase, and said capital expenditures in the same year were $680 million.
The company said it repurchased about 14 million shares for $1,991 million in fiscal 2024 and paid $760 million in ordinary share dividends. It said the remaining amount available under its share repurchase authorization at year-end was $245 million.

Key figures

Fiscal year ended September 27, 2024

Revenue: $15.8B
Operating income: $2.8B
Net income: $3.2B
EPS: $10.33
Gross profit: $5.5B
Operating cash flow: $3.5B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Annual Net Sales Down 1.2%, Flat Organically

TE Connectivity said its fiscal 2024 net sales fell 1.2% from fiscal 2023, and were flat on an organic basis. The company said sales declines in Transportation Solutions and Industrial Solutions were partially offset by sales growth in Communications Solutions.

Source · Based on the MD&A text of the filing

Gross Margin Up $401 million

The company said gross margin increased $401 million in fiscal 2024 compared with fiscal 2023, citing improved manufacturing productivity and the impact of pricing actions. It said selling, general, and administrative expenses increased $62 million over the same period.

Source · Based on the MD&A text of the filing

Operating Cash Flow $3,477 million, Capital Expenditures $680 million

Net cash provided by operating activities in fiscal 2024 was $3,477 million, up $345 million from $3,132 million in fiscal 2023, the company said. It cited higher pre-tax income as the main driver of the increase, and said capital expenditures in the same year were $680 million.

Source · Based on the MD&A text of the filing

Share Repurchases $1,991 million, Dividend Payments $760 million

The company said it repurchased about 14 million shares for $1,991 million in fiscal 2024 and paid $760 million in ordinary share dividends. It said the remaining amount available under its share repurchase authorization at year-end was $245 million.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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