TE Connectivity delivers 12% sales increase and over 20% EPS growth in fiscal
TE Connectivity delivers 12% sales increase and over 20% EPS growth in fiscal fourth quarter Delivered strong full-year performance with sales growth of 15% and more than 20% EPS growth Expects double digit sales growth in fiscal 2027 GALWAY, Ireland – Oct. 28, 2026 – TE Connectivity plc (NYSE: TEL) today reported results for the fiscal fourth quarter and fiscal year ended September 25, 2026. Fourth Quarter Highlights ● Net sales were a record $5.3 billion, an increase of 12% on a reported basis and 13% organically year over year, driven by strong growth in both the Industrial and Transportation segments. ●Orders of $6.1 billion, an increase of 29% year over year and 6% sequentially. ●GAAP diluted earnings per share (EPS) from continuing operations was $3.10, up 39% year over year. Adjusted EPS was $3.14, an increase of 21% year over year. ●GAAP Operating margin was 21% and adjusted operating margin was 22%, driven by strong operational performance across both segments. ●Cash flow from operating activities was $1.5 billion and free cash flow was $1.2 billion, with approximately $800 million returned to shareholders. Full Year Highlights ●Company delivered full-year records for sales, orders, operating margin, EPS and cash generation. ●Net sales were $19.9 billion, up 15% on a reported basis and 12% organically, with broad growth across the portfolio due to customer needs for increased data and power connectivity. ●Orders of $22.2 billion, up 27%, supporting expected double-digit sales growth in fiscal 2027. ●GAAP operating margin was 20% and adjusted operating margin was 22%, driven by strong operational performance.
Cash flow from operating activities was $4.5 billion and free cash flow was $3.4 billion.
Returned approximately $2.8 billion to shareholders and committed $1.6 billion for bolt-on acquisitions in the Industrial segment to broaden the optics and power filtering portfolios.
"Our teams delivered a strong fourth quarter to finish a year in which we set records in sales, earnings and cash generation,” said CEO Terrence Curtin. “Our growth is supported by our strategic positioning of TE around accelerating data and power trends that are driving customer demand for connectivity innovations that are essential to next generation architectures. In our Industrial Solutions segment, which grew 26% in 2026, we continue to benefit from our customers’ AI investments, which create opportunities extending from inside the rack in the data center to the networking edge all the way to the energy grid.
“Entering fiscal 2027, we expect that the strong momentum from 2026 will continue as we are well positioned to keep capitalizing on growth drivers and deliver value for our shareholders. With strong orders across our businesses, we expect first quarter sales to be up mid-teens and to deliver more than 20 percent EPS growth year over year. For the full fiscal year, we expect to deliver organic sales growth that is similar to our strong performance in fiscal 2026.”
For the first quarter of fiscal 2027, the company expects sales of approximately $5.35 billion, up 15% on a reported and organic basis year over year. GAAP EPS from continuing operations is expected to be approximately $3.04, an increase of 20% year over year, with adjusted EPS of approximately $3.30, up 21% year over year.
Information about TE Connectivity's use of non-GAAP financial measures is provided below. For reconciliations of these non-GAAP financial measures, see the attached tables.
Conference Call and Webcast The company will hold a conference call for investors today beginning at 8:30 a.m. ET. The conference call may be accessed in the following ways:
By telephone: For both “listen-only” participants and those participants who wish to take part in the question-and-answer portion of the call, the ● dial-in number in the United States is (833) 461-5787 and for international callers, the dial-in number is (585) 542-9983; meeting ID: 968971220.
● A replay of the conference call will be available on TE Connectivity’s investor website at investors.te.com at 11:30 a.m. ET on October 28.
About TE Connectivity TE Connectivity plc (NYSE: TEL) is a global industrial technology leader creating a safer, sustainable, productive, and connected future. As a trusted innovation partner, our broad range of connectivity and sensor solutions enable the distribution of power, signal and data to advance next-generation transportation, energy networks, automated factories, data centers enabling artificial intelligence, and more. Our more than 100,000 employees, including 10,000 engineers, work alongside customers in approximately 130 countries. In a world that is racing ahead, TE ensures that EVERY CONNECTION COUNTS. Learn more at www.te.com and on LinkedIn , Facebook , WeChatand Instagram. Non-GAAP Financial Measures We present non-GAAP performance and liquidity measures as we believe it is appropriate for investors to consider adjusted financial measures in addition to results in accordance with accounting principles generally accepted in the U.S. (“GAAP”). These non-GAAP financial measures provide supplemental information and should not be considered replacements for results in accordance with GAAP. Management uses non-GAAP financial measures internally for planning and forecasting purposes and in its decision-making processes related to the operations of our company. We believe these measures provide meaningful information to us and investors because they enhance the understanding of our operating performance, ability to generate cash, and the trends of our business. Additionally, we believe that investors benefit from having access to the same financial measures that management uses in evaluating our operations. The primary limitation of these measures is that they exclude the financial impact of items that would otherwise either increase or decrease our reported results. This limitation is best addressed by using these non-GAAP financial measures in combination with the most directly comparable GAAP financial measures in order to better understand the amounts, character, and impact of any increase or decrease in reported amounts. These non-GAAP financial measures may not be comparable to similarly-titled measures reported by other companies.
The following provides additional information regarding our non-GAAP financial measures:
•Organic Net Sales Growth (Decline) – represents net sales growth (decline) (the most comparable GAAP financial measure) excluding the impact of foreign currency exchange rates and acquisitions and divestitures that occurred in the preceding twelve months, if any. Organic Net Sales Growth (Decline) is a useful measure of our performance because it excludes items that are not completely under management’s control, such as the impact of changes in foreign currency exchange rates, and items that do not reflect the underlying growth of the company, such as acquisition and divestiture activity. This measure is a significant component in our incentive compensation plans.
•Adjusted Operating Income and Adjusted Operating Margin – represent operating income and operating margin, respectively, (the most comparable GAAP financial measures) before special items including restructuring and other charges, acquisition-related charges, amortization expense on intangible assets, impairment of goodwill, and other income or charges, if any. We utilize these adjusted measures in combination with operating income and operating margin to assess segment level operating performance and to provide insight to management in evaluating segment operating plan execution and market conditions. Adjusted Operating Income is a significant component in our incentive compensation plans.
•Adjusted Income Tax (Expense) Benefit and Adjusted Effective Tax Rate – represent income tax (expense) benefit and effective tax rate, respectively, (the most comparable GAAP financial measures) after adjusting for the tax effect of special items including restructuring and other charges, acquisition-related charges, amortization expense on intangible assets, impairment of goodwill, other income or charges, and certain significant tax items, if any.
•Adjusted Income from Continuing Operations – represents income from continuing operations (the most comparable GAAP financial measure) before special items including restructuring and other charges, acquisition-related charges, amortization expense on intangible assets, impairment of goodwill, other income or charges, and certain significant tax items, if any, and, if applicable, the related tax effects.
•Adjusted Earnings Per Share – represents diluted earnings per share from continuing operations (the most comparable GAAP financial measure) before special items including restructuring and other charges, acquisition-related charges, amortization expense on intangible assets, impairment of goodwill, other income or charges, and certain significant tax items, if any, and, if applicable, the related tax effects. This measure is a significant component in our incentive compensation plans.
•Free Cash Flow (FCF) – is a useful measure of our ability to generate cash. The difference between net cash provided by operating activities (the most comparable GAAP financial measure) and Free Cash Flow consists mainly of significant cash outflows and inflows that we believe are useful to identify. We believe Free Cash Flow provides useful information to investors as it provides insight into the primary cash flow metric used by management to monitor and evaluate cash flows generated from our operations. Free Cash Flow is defined as net cash provided by operating activities excluding voluntary pension contributions and the cash impact of special items, if any, minus net capital expenditures. Voluntary pension contributions are excluded from the GAAP financial measure because this activity is driven by economic financing decisions rather than operating activity. Certain special items, including cash paid (collected) pursuant to collateral requirements related to cross-currency swap contracts, are also excluded by management in evaluating Free Cash Flow. Net capital expenditures consist of capital expenditures less proceeds from the sale of property, plant, and equipment.
These items are subtracted because they represent long-term commitments. In the calculation of Free Cash Flow, we subtract certain cash items that are ultimately within management’s and the Board of Directors’ discretion to direct and may imply that there is less or more cash available for our programs than the most comparable GAAP financial measure indicates. It should not be inferred that the entire Free Cash Flow amount is available for future discretionary expenditures, as our definition of Free Cash Flow does not consider certain non- discretionary expenditures, such as debt payments. In addition, we may have other discretionary expenditures, such as discretionary dividends, share repurchases, and business acquisitions, that are not considered in the calculation of Free Cash Flow. Forward-Looking Statements This release contains certain “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to risks, uncertainty and changes in circumstances, which may cause actual results, performance, financial condition or achievements to differ materially from anticipated results, performance, financial condition or achievements. All statements contained herein that are not clearly historical in nature are forward-looking and the words “anticipate,” “believe,” “expect,” “estimate,” “plan,” and similar expressions are generally intended to identify forward-looking statements. We have no intention and are under no obligation to update or alter (and expressly disclaim any such intention or obligation to do so) our forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by law. The forward-looking statements in this release include statements addressing our future financial condition and operating results. Examples of factors that could cause actual results to differ materially from those described in the forward-looking statements include, among others, the extent, severity and duration of business interruptions negatively affecting our business operations; business, economic, competitive and regulatory risks, such as conditions affecting demand for products in the automotive and other industries we serve; competition and pricing pressure; fluctuations in foreign currency exchange rates and commodity prices; natural disasters and political, economic and military instability in countries in which we operate, including continuing military conflict in certain parts of the world; developments in the credit markets; future goodwill impairment; compliance with current and future environmental and other laws and regulations; and the possible effects on us of changes in tax laws, tax treaties and other legislation. More detailed information about these and other factors is set forth in TE Connectivity plc’s Annual Report on Form 10-K for the fiscal year ended Sept 26, 2025, as well as in our Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other reports filed by us with the U.S. Securities and Exchange Commission.
Contacts: Media Relations:Eric ManganTE Investor Relations:Sujal ShahTE Connectivity908-783-6629Eric.Ma… Connectivity610-893-9790Sujal.…
September 25, 2026 (in millions, except September 26, share data) 2025 Assets Current assets: ────────────────────────────────────────────────────────────────────────────── Cash and cash $ 1,697 $ 1,255 equivalents Accounts receivable, net of allowance for doubtful 3,839 3,403 accounts of $55 and $44, respectively Inventories 2,962 2,699 Prepaid expenses and other current 785 609 assets Total current assets 9,283 7,966 Property, plant, and 4,637 4,312 equipment, net Goodwill 7,420 7,126 Intangible assets, 2,031 2,227 net Deferred income 2,128 2,507 taxes Other assets 1,173 943 Total assets $ 26,672 $ 25,081 Liabilities, redeemable noncontrolling interests, and shareholders' equity Current liabilities: Short-term debt $ 502 $ 852 Accounts payable 2,455 2,021 Accrued and other 2,407 2,247 current liabilities Total current 5,364 5,120 liabilities Long-term debt 5,137 4,842 Long-term pension and postretirement 625 767 liabilities Deferred income 246 198 taxes Income taxes 346 414 Other liabilities 1,231 1,010 Total liabilities 12,949 12,351 Commitments and contingencies Redeemable noncontrolling 150 145 interests Shareholders' equity: Preferred shares, $1.00 par value, 2 — — shares authorized, none outstanding Ordinary class A shares, €1.00 par value, 25,000 shares — — authorized, none outstanding Ordinary shares, $0.01 par value, 1,500,000,000 shares authorized, 3 3 296,288,773 and 302,889,075 shares issued, respectively Accumulated earnings 15,244 13,932 Ordinary shares held in treasury, at cost, 8,788,224 and -1,892 -1,356 8,330,931 shares, respectively Accumulated other 218 6 comprehensive income Total shareholders' 13,573 12,585 equity Total liabilities, redeemable noncontrolling $ 26,672 $ 25,081 interests, and shareholders' equity
TE CONNECTIVITY PLC RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES For the Quarter Ended September 25, 2026 (UNAUDITED)
TE CONNECTIVITY PLC RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES For the Quarter Ended September 26, 2025 (UNAUDITED)
TE CONNECTIVITY PLC RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES For the Year Ended September 25, 2026 (UNAUDITED)
TE CONNECTIVITY PLC RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES For the Year Ended September 26, 2025 (UNAUDITED)
TE CONNECTIVITY PLC RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES For the Quarter Ended December 26, 2025 (UNAUDITED)
TE CONNECTIVITY PLC RECONCILIATION OF FORWARD-LOOKING NON-GAAP FINANCIAL MEASURES TO FORWARD-LOOKING GAAP FINANCIAL MEASURES As of October 28, 2026 (UNAUDITED)
Outlook for Quarter Ending ───────────────────────────────────────────────────────────────────────────── December 25, 2026 Diluted earnings per share from continuing $ 3.04 operations Acquisition-related charges 0.06 Restructuring and other charges, net 0.05 Amortization expense 0.15 Adjusted diluted earnings per share from $ 3.30 continuing operations (1) Net sales growth 14.6 % Translation and other (2) 0.7 (Acquisitions) divestitures, net — Organic net sales growth (1) 15.3 % (1) See description of non-GAAP financial measures. (2) Includes IEEPA tariff refunds expected to be received in fiscal 2027 and returned to customers.
Full text with the tables
Exhibit 99.1
NEWS RELEASE te.com
TE Connectivity delivers 12% sales increase and over 20% EPS growth in fiscal
fourth quarter Delivered strong full-year performance with sales growth of 15%
and more than 20% EPS growth Expects double digit sales growth in fiscal 2027
GALWAY, Ireland – Oct. 28, 2026 – TE Connectivity plc (NYSE: TEL) today reported
results for the fiscal fourth quarter and fiscal year ended September 25, 2026.
Fourth Quarter Highlights ● Net sales were a record $5.3 billion, an increase of
12% on a reported basis and 13% organically year over year, driven by strong
growth in both the Industrial and Transportation segments. ●Orders of $6.1
billion, an increase of 29% year over year and 6% sequentially. ●GAAP diluted
earnings per share (EPS) from continuing operations was $3.10, up 39% year over
year. Adjusted EPS was $3.14, an increase of 21% year over year. ●GAAP Operating
margin was 21% and adjusted operating margin was 22%, driven by strong
operational performance across both segments. ●Cash flow from operating
activities was $1.5 billion and free cash flow was $1.2 billion, with
approximately $800 million returned to shareholders. Full Year Highlights
●Company delivered full-year records for sales, orders, operating margin, EPS
and cash generation. ●Net sales were $19.9 billion, up 15% on a reported basis
and 12% organically, with broad growth across the portfolio due to customer
needs for increased data and power connectivity. ●Orders of $22.2 billion, up
27%, supporting expected double-digit sales growth in fiscal 2027. ●GAAP
operating margin was 20% and adjusted operating margin was 22%, driven by strong
operational performance.
GAAP EPS was $11.07, an increase of 80%, and adjusted EPS was $11.52, up 24%
Cash flow from operating activities was $4.5 billion and free cash flow was $3.4
billion.
Returned approximately $2.8 billion to shareholders and committed $1.6 billion
for bolt-on acquisitions in the Industrial segment to broaden the optics and
power filtering portfolios.
"Our teams delivered a strong fourth quarter to finish a year in which we set
records in sales, earnings and cash generation,” said CEO Terrence Curtin. “Our
growth is supported by our strategic positioning of TE around accelerating data
and power trends that are driving customer demand for connectivity innovations
that are essential to next generation architectures. In our Industrial Solutions
segment, which grew 26% in 2026, we continue to benefit from our customers’ AI
investments, which create opportunities extending from inside the rack in the
data center to the networking edge all the way to the energy grid.
“Entering fiscal 2027, we expect that the strong momentum from 2026 will
continue as we are well positioned to keep capitalizing on growth drivers and
deliver value for our shareholders. With strong orders across our businesses, we
expect first quarter sales to be up mid-teens and to deliver more than 20
percent EPS growth year over year. For the full fiscal year, we expect to
deliver organic sales growth that is similar to our strong performance in fiscal
2026.”
First Quarter FY27 Outlook
For the first quarter of fiscal 2027, the company expects sales of approximately
$5.35 billion, up 15% on a reported and organic basis year over year. GAAP EPS
from continuing operations is expected to be approximately $3.04, an increase of
20% year over year, with adjusted EPS of approximately $3.30, up 21% year over
year.
Information about TE Connectivity's use of non-GAAP financial measures is
provided below. For reconciliations of these non-GAAP financial measures, see
the attached tables.
Conference Call and Webcast The company will hold a conference call for
investors today beginning at 8:30 a.m. ET. The conference call may be accessed
in the following ways:
● At TE Connectivity’s website: investors.te.com
By telephone: For both “listen-only” participants and those participants
who wish to take part in the question-and-answer portion of the call, the
● dial-in number in the United States is (833) 461-5787 and for
international callers, the dial-in number is (585) 542-9983; meeting ID:
968971220.
● A replay of the conference call will be available on TE Connectivity’s
investor website at investors.te.com at 11:30 a.m. ET on October 28.
About TE Connectivity TE Connectivity plc (NYSE: TEL) is a global industrial
technology leader creating a safer, sustainable, productive, and connected
future. As a trusted innovation partner, our broad range of connectivity and
sensor solutions enable the distribution of power, signal and data to advance
next-generation transportation, energy networks, automated factories, data
centers enabling artificial intelligence, and more. Our more than 100,000
employees, including 10,000 engineers, work alongside customers in approximately
130 countries. In a world that is racing ahead, TE ensures that EVERY CONNECTION
COUNTS. Learn more at www.te.com and on LinkedIn , Facebook , WeChatand
Instagram. Non-GAAP Financial Measures We present non-GAAP performance and
liquidity measures as we believe it is appropriate for investors to consider
adjusted financial measures in addition to results in accordance with accounting
principles generally accepted in the U.S. (“GAAP”). These non-GAAP financial
measures provide supplemental information and should not be considered
replacements for results in accordance with GAAP. Management uses non-GAAP
financial measures internally for planning and forecasting purposes and in its
decision-making processes related to the operations of our company. We believe
these measures provide meaningful information to us and investors because they
enhance the understanding of our operating performance, ability to generate
cash, and the trends of our business. Additionally, we believe that investors
benefit from having access to the same financial measures that management uses
in evaluating our operations. The primary limitation of these measures is that
they exclude the financial impact of items that would otherwise either increase
or decrease our reported results. This limitation is best addressed by using
these non-GAAP financial measures in combination with the most directly
comparable GAAP financial measures in order to better understand the amounts,
character, and impact of any increase or decrease in reported amounts. These
non-GAAP financial measures may not be comparable to similarly-titled measures
reported by other companies.
The following provides additional information regarding our non-GAAP financial
measures:
•Organic Net Sales Growth (Decline) – represents net sales growth (decline) (the
most comparable GAAP financial measure) excluding the impact of foreign currency
exchange rates and acquisitions and divestitures that occurred in the preceding
twelve months, if any. Organic Net Sales Growth (Decline) is a useful measure of
our performance because it excludes items that are not completely under
management’s control, such as the impact of changes in foreign currency exchange
rates, and items that do not reflect the underlying growth of the company, such
as acquisition and divestiture activity. This measure is a significant component
in our incentive compensation plans.
•Adjusted Operating Income and Adjusted Operating Margin – represent operating
income and operating margin, respectively, (the most comparable GAAP financial
measures) before special items including restructuring and other charges,
acquisition-related charges, amortization expense on intangible assets,
impairment of goodwill, and other income or charges, if any. We utilize these
adjusted measures in combination with operating income and operating margin to
assess segment level operating performance and to provide insight to management
in evaluating segment operating plan execution and market conditions. Adjusted
Operating Income is a significant component in our incentive compensation plans.
•Adjusted Income Tax (Expense) Benefit and Adjusted Effective Tax Rate –
represent income tax (expense) benefit and effective tax rate, respectively,
(the most comparable GAAP financial measures) after adjusting for the tax effect
of special items including restructuring and other charges, acquisition-related
charges, amortization expense on intangible assets, impairment of goodwill,
other income or charges, and certain significant tax items, if any.
•Adjusted Income from Continuing Operations – represents income from continuing
operations (the most comparable GAAP financial measure) before special items
including restructuring and other charges, acquisition-related charges,
amortization expense on intangible assets, impairment of goodwill, other income
or charges, and certain significant tax items, if any, and, if applicable, the
related tax effects.
•Adjusted Earnings Per Share – represents diluted earnings per share from
continuing operations (the most comparable GAAP financial measure) before
special items including restructuring and other charges, acquisition-related
charges, amortization expense on intangible assets, impairment of goodwill,
other income or charges, and certain significant tax items, if any, and, if
applicable, the related tax effects. This measure is a significant component in
our incentive compensation plans.
•Free Cash Flow (FCF) – is a useful measure of our ability to generate cash. The
difference between net cash provided by operating activities (the most
comparable GAAP financial measure) and Free Cash Flow consists mainly of
significant cash outflows and inflows that we believe are useful to identify. We
believe Free Cash Flow provides useful information to investors as it provides
insight into the primary cash flow metric used by management to monitor and
evaluate cash flows generated from our operations. Free Cash Flow is defined as
net cash provided by operating activities excluding voluntary pension
contributions and the cash impact of special items, if any, minus net capital
expenditures. Voluntary pension contributions are excluded from the GAAP
financial measure because this activity is driven by economic financing
decisions rather than operating activity. Certain special items, including cash
paid (collected) pursuant to collateral requirements related to cross-currency
swap contracts, are also excluded by management in evaluating Free Cash Flow.
Net capital expenditures consist of capital expenditures less proceeds from the
sale of property, plant, and equipment.
These items are subtracted because they represent long-term commitments. In the
calculation of Free Cash Flow, we subtract certain cash items that are
ultimately within management’s and the Board of Directors’ discretion to direct
and may imply that there is less or more cash available for our programs than
the most comparable GAAP financial measure indicates. It should not be inferred
that the entire Free Cash Flow amount is available for future discretionary
expenditures, as our definition of Free Cash Flow does not consider certain non-
discretionary expenditures, such as debt payments. In addition, we may have
other discretionary expenditures, such as discretionary dividends, share
repurchases, and business acquisitions, that are not considered in the
calculation of Free Cash Flow. Forward-Looking Statements This release contains
certain “forward-looking statements” within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. These statements are based on
management’s current expectations and are subject to risks, uncertainty and
changes in circumstances, which may cause actual results, performance, financial
condition or achievements to differ materially from anticipated results,
performance, financial condition or achievements. All statements contained
herein that are not clearly historical in nature are forward-looking and the
words “anticipate,” “believe,” “expect,” “estimate,” “plan,” and similar
expressions are generally intended to identify forward-looking statements. We
have no intention and are under no obligation to update or alter (and expressly
disclaim any such intention or obligation to do so) our forward-looking
statements whether as a result of new information, future events or otherwise,
except to the extent required by law. The forward-looking statements in this
release include statements addressing our future financial condition and
operating results. Examples of factors that could cause actual results to differ
materially from those described in the forward-looking statements include, among
others, the extent, severity and duration of business interruptions negatively
affecting our business operations; business, economic, competitive and
regulatory risks, such as conditions affecting demand for products in the
automotive and other industries we serve; competition and pricing pressure;
fluctuations in foreign currency exchange rates and commodity prices; natural
disasters and political, economic and military instability in countries in which
we operate, including continuing military conflict in certain parts of the
world; developments in the credit markets; future goodwill impairment;
compliance with current and future environmental and other laws and regulations;
and the possible effects on us of changes in tax laws, tax treaties and other
legislation. More detailed information about these and other factors is set
forth in TE Connectivity plc’s Annual Report on Form 10-K for the fiscal year
ended Sept 26, 2025, as well as in our Quarterly Reports on Form 10-Q, Current
Reports on Form 8-K and other reports filed by us with the U.S. Securities and
Exchange Commission.
Contacts: Media Relations:Eric ManganTE Investor Relations:Sujal ShahTE
Connectivity908-783-6629Eric.Ma… Connectivity610-893-9790Sujal.…
TE CONNECTIVITY PLC CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
For the
Quarte…
Ended
Septem…
25,
2026
(in For the
millio… Years
except Ended
per Septe… Septem… Septe…
share 26, 25, 26,
data) 2025 2026 2025
──────────────────────────────────────────────────────────────────────────────
Net $ 5,312 $ 4,749 $ 19,885 $ 17,262
sales
Cost
of 3,425 3,089 12,679 11,183
sales
Gross 1,887 1,660 7,206 6,079
margin
Selli…
gener…
and 518 494 2,124 1,866
admin…
expen…
Resea…
devel…
and 250 227 942 829
engin…
expen…
Acqui…
and 12 6 32 47
integ…
costs
Restr…
and
other 14 17 117 126
charg…
net
Opera… 1,093 916 3,991 3,211
income
Inter… 23 21 90 83
income
Inter… -31 -29 -124 -77
expen…
Other
expen… -9 -11 -7 -13
net
Income
from
conti…
opera… 1,076 897 3,950 3,204
before
income
taxes
Income
tax -175 -233 -695 -1,361
expen…
Income
from 901 664 3,255 1,843
conti…
opera…
Loss
from
disco…
opera… -1 -1 -2 -1
net
of
income
taxes
Net $ 900 $ 663 $ 3,253 $ 1,842
income
Basic
earni…
per
share:
Income
from $ 3.12 $ 2.25 $ 11.15 $ 6.21
conti…
opera…
Loss
from — — -0.01 —
disco…
opera…
Net 3.11 2.25 11.14 6.20
income
Dilut…
earni…
per
share:
Income
from $ 3.10 $ 2.23 $ 11.07 $ 6.16
conti…
opera…
Loss
from — — -0.01 —
disco…
opera…
Net 3.09 2.22 11.06 6.16
income
Weigh…
number
of
shares
outst…
Basic 289 295 292 297
Dilut… 291 298 294 299
TE CONNECTIVITY PLC CONSOLIDATED BALANCE SHEETS (UNAUDITED)
September 25,
2026
(in millions, except September 26,
share data) 2025
Assets
Current assets:
──────────────────────────────────────────────────────────────────────────────
Cash and cash $ 1,697 $ 1,255
equivalents
Accounts receivable,
net of allowance
for doubtful 3,839 3,403
accounts of $55 and
$44,
respectively
Inventories 2,962 2,699
Prepaid expenses and
other current 785 609
assets
Total current assets 9,283 7,966
Property, plant, and 4,637 4,312
equipment, net
Goodwill 7,420 7,126
Intangible assets, 2,031 2,227
net
Deferred income 2,128 2,507
taxes
Other assets 1,173 943
Total assets $ 26,672 $ 25,081
Liabilities,
redeemable
noncontrolling
interests, and
shareholders' equity
Current liabilities:
Short-term debt $ 502 $ 852
Accounts payable 2,455 2,021
Accrued and other 2,407 2,247
current liabilities
Total current 5,364 5,120
liabilities
Long-term debt 5,137 4,842
Long-term pension
and postretirement 625 767
liabilities
Deferred income 246 198
taxes
Income taxes 346 414
Other liabilities 1,231 1,010
Total liabilities 12,949 12,351
Commitments and
contingencies
Redeemable
noncontrolling 150 145
interests
Shareholders'
equity:
Preferred shares,
$1.00 par value, 2 — —
shares authorized,
none outstanding
Ordinary class A
shares, €1.00 par
value, 25,000 shares — —
authorized, none
outstanding
Ordinary shares,
$0.01 par value,
1,500,000,000 shares
authorized, 3 3
296,288,773 and
302,889,075 shares
issued, respectively
Accumulated earnings 15,244 13,932
Ordinary shares held
in treasury, at
cost, 8,788,224 and -1,892 -1,356
8,330,931 shares,
respectively
Accumulated other 218 6
comprehensive income
Total shareholders' 13,573 12,585
equity
Total liabilities,
redeemable
noncontrolling $ 26,672 $ 25,081
interests, and
shareholders' equity
TE CONNECTIVITY PLC CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
For the
Quarte…
Ended For the
Septem… Years
Cash 25, Ended
flows 2026 Septe… Septem… Septe…
from (in 26, 25, 26,
opera… millio… 2025 2026 2025
activ…
──────────────────────────────────────────────────────────────────────────────
Net $ 900 $ 663 $ 3,253 $ 1,842
income
Loss
from
disco…
opera… 1 1 2 1
net
of
income
taxes
Income
from 901 664 3,255 1,843
conti…
opera…
Adjus…
to
recon…
income
from
conti…
opera…
to net
cash
provi…
by
opera…
activ…
Depre…
and 275 244 1,033 838
amort…
Defer…
income 60 166 321 938
taxes
Non-c…
lease 41 39 159 145
cost
Provi…
for
losses
on 10 -4 71 58
accou…
recei…
and
inven…
Share…
compe… 38 44 168 149
expen…
Other 14 20 -37 80
Chang…
in
assets
and
liabi…
net
of the
effec…
of
acqui…
and
dives…
Accou…
recei… -227 50 -582 -341
net
Inven… 49 139 -316 -160
Prepa…
expen…
and 54 60 92 91
other
curre…
assets
Accou… 162 -8 595 290
payab…
Accru…
and
other 132 41 -108 -35
curre…
liabi…
Income 14 -25 -80 147
taxes
Other 5 -9 -46 96
Net
cash
provi… 1,528 1,421 4,525 4,139
by
opera…
activ…
Cash
flows
from
inves…
activ…
Capit… -290 -271 -1,122 -936
expen…
Proce…
from
sale
of 3 4 9 11
prope…
plant,
and
equip…
Acqui…
of
busin… -12 — -212 -2,628
net of
cash
acqui…
Other -3 -3 -9 -15
Net
cash
used -302 -270 -1,334 -3,568
in
inves…
activ…
Cash
flows
from
finan…
activ…
Net
incre…
(decr… — — 100 -255
in
comme…
paper
Proce…
from
issua… — — 750 2,231
of
debt
Repay…
of -1 — -852 -580
debt
Proce…
from
exerc… 3 81 82 182
of
share
optio…
Repur…
of -544 -437 -1,892 -1,347
ordin…
shares
Payme…
of
ordin…
share -226 -209 -869 -803
divid…
to
share…
Other -1 -1 -68 -57
Net
cash
used -769 -566 -2,749 -629
in
finan…
activ…
Effect
of
curre… 1 -2 — -6
trans…
on
cash
Net
incre…
(decr…
in
cash, 458 583 442 -64
cash
equiv…
and
restr…
cash
Cash,
cash
equiv…
and
restr… 1,239 672 1,255 1,319
cash
at
begin…
of
period
Cash,
cash
equiv…
and
restr… $ 1,697 $ 1,255 $ 1,697 $ 1,255
cash
at end
of
period
Suppl…
cash
flow
infor…
Inter…
paid
on $ 28 $ 21 $ 110 $ 34
debt,
net
Income
taxes
paid, 101 92 454 276
net of
refun…
TE CONNECTIVITY PLC RECONCILIATION OF FREE CASH FLOW (UNAUDITED)
For the
Quarte…
Ended For the
Septem… Years
25, Ended
2026 Septem… Septem… Septe…
(in 26, 25, 26,
millio… 2025 2026 2025
──────────────────────────────────────────────────────────────────────────────
Net
cash
provi… $ 1,528 $ 1,421 $ 4,525 $ 4,139
by
opera…
activ…
Capit…
expen… -287 -267 -1,113 -925
net
Free
cash $ 1,241 $ 1,154 $ 3,412 $ 3,214
flow
(1)
(1)
Free
cash
flow
is a
non-G…
finan…
measu…
See
descr…
of
non-G…
finan…
measu…
TE CONNECTIVITY PLC SEGMENT DATA (UNAUDITED)
F…
t…
Q…
E… F…
S… t…
2… Y…
2… E…
($ S… S… S…
in 2… 2… 2…
m… 2… 2… 2…
N… N… N… N…
S… S… S… S…
──────────────────────────────────────────────────────────────────────────────
… $ 2… $ 2… $ 1… $ …
…
… 2… 2… 9… …
…
…
… -… — -… —
…
… $ 5… $ 4… $ 1… $ …
O… O… O… O… O… O… O… O…
I… M… I… M… I… M… I… M…
… $ 5… 2… % $ 4… 1… % $ 1… 1… % $ … 1… %
…
… 5… 2… 4… 1… 2… 2… … 1…
…
…
… 4 — 4 —
…
… $ 1… 2… % $ 9… 1… % $ 3… 2… % $ … 1… %
A… A… A… A… A… A… A… A…
O… O… O… O… O… O… O… O…
I… M… I… M… I… M… I… M…
(… (… (… (… (… (… (… (…
… $ 5… 2… % $ 4… 2… % $ 2… 2… % $ … 2… %
…
… 6… 2… 5… 2… 2… 2… … 2…
…
…
… 4 — 4 —
…
… $ 1… 2… % $ 1… 2… % $ 4… 2… % $ … 2… %
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
…
TE CONNECTIVITY PLC RECONCILIATION OF NET SALES GROWTH (DECLINE) (UNAUDITED)
Cha…
in
Net
Sal…
for
the
Qua…
End…
Sep…
25,
2026
ver…
Net
Sal…
for
the
Qua…
End…
Sep…
26,
2025
──────────────────────────────────────────────────────────────────────────────
Net Orga…
Sal… Net Tra…
Sales
Gro… Grow… and
(De… (Dec… Oth… Acqu…
(1) (2)
-$
in
mil…
Tra…
Sol…
Aut… $ 127 7.0 % $ 107 5.9 % $ 20 $ —
Com… 65 17.9 64 17.8 1 —
tra…
Sen… -5 -2.0 -4 -1.7 -1 —
Tot…
Tra… 187 7.7 167 6.9 20 —
Sol…
Ind…
Sol…
Dig…
data 242 34.2 246 34.4 -4 —
net…
Aut…
and 103 17.6 101 17.6 2 —
con…
liv…
Ene… 55 11.8 54 11.7 1 —
Aer…
def… 61 15.2 63 16.0 -2 —
and
mar…
Med… 2 1.1 3 1.3 -1 —
Tot…
Ind… 463 19.8 467 20.0 -4 —
Sol…
Rec…
item -87 — -87 —
(3)
Tot… $ 563 11.9 % $ 634 13.4 % $ -71 $ —
Cha…
in
Net
Sal…
for
the
Year
End…
Sep…
25,
2026
ver…
Net
Sal…
for
the
Year
End…
Sep…
26,
2025
──────────────────────────────────────────────────────────────────────────────
Net Org…
Sal… Net Tra…
Sal…
Gro… Gro… and
(De… (De… Oth… Ac…
(1) (2)
-$
in
mil…
Tr…
So…
Au… $ 417 5.9 % $ 212 3.0 % $ 205 $ —
Co… 264 19.3 233 17.1 31 —
tr…
Se… — — -22 -2.4 22 —
To…
Tr… 681 7.3 423 4.5 258 —
So…
In…
So…
Di…
da… 975 44.2 961 43.5 14 —
ne…
Au…
and 333 15.5 281 13.1 51 1
co…
li…
En… 543 40.4 243 18.1 29 271
Ae…
de… 187 12.6 163 11.0 24 —
and
ma…
Me… -9 -1.3 -9 -1.3 — —
To…
In… 2,0… 25.8 1,6… 20.8 118 272
So…
Re…
it… -87 — -87 —
(3)
To… $ 2,6… 15.2 % $ 2,0… 11.9 % $ 289 $ 272
(1)
Or…
net
sa…
gr…
(d…
is
a
no…
fi…
me…
See
de…
of
no…
fi…
me…
(2)
Re…
the
ch…
in
net
sa…
re…
fr…
ch…
in
fo…
cu…
ex…
ra…
and
IE…
ta…
re…
(3)
Re…
it…
re…
to
IE…
ta…
re…
re…
in
fi…
20…
th…
are
ex…
to
be
re…
to
cu…
TE CONNECTIVITY PLC RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP
FINANCIAL MEASURES For the Quarter Ended September 25, 2026 (UNAUDITED)
U.…
GA…
($
in Re…
mi… Ad… and
ex… Ac… Ot…
per Re… Ch… Am… T… A…
sh… Ch… Net Ex… I… (…
O… da… (1) (1) (1) (… (…
i…
──────────────────────────────────────────────────────────────────────────────
T… $ 521 $ 1 $ 5 $ 18 $ — $ 545
S…
I… 568 11 9 39 — 627
S…
R…
i… 4 — — — — 4
(…
T… $ 1,… $ 12 $ 14 $ 57 $ — $ 1,…
O… 20… % 22… %
m…
I…
t… $ -1… $ -2 $ 2 $ -11 $ -59 $ -2…
e…
E…
t… 16… % 21… %
r…
I…
f… $ 901 $ 10 $ 16 $ 46 $ -59 $ 914
c…
o…
D…
e…
p…
s… $ 3.… $ 0.… $ 0.… $ 0.… $ -0… $ 3.…
f…
c…
o…
(…
T…
t…
e…
of
e…
n…
a…
is
c…
b…
on
t…
j…
in
w…
t…
e…
(…
is
i…
a…
t…
t…
l…
in
e…
f…
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s…
j…
(…
R…
a
$…
m…
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t…
b…
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to
a
d…
in
t…
v…
a…
f…
c…
t…
l…
a…
c…
c…
(…
S…
d…
of
n…
f…
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to
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of
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in
f…
2…
TE CONNECTIVITY PLC RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP
FINANCIAL MEASURES For the Quarter Ended September 26, 2025 (UNAUDITED)
U.…
GA…
($
in Re…
mi… Ad… and
ex… Ac… Ot…
per Re… Ch… Am… T… A…
sh… Ch… Net Ex… I… (…
O… da… (1) (1) (1) (… (…
i…
──────────────────────────────────────────────────────────────────────────────
T… $ 465 $ — $ 3 $ 19 $ — $ 487
S…
I… 451 10 14 39 — 514
S…
T… $ 916 $ 10 $ 17 $ 58 $ — $ 1,…
O… 19… % 21… %
m…
I…
t… $ -2… $ -2 $ 6 $ -11 $ 31 $ -2…
e…
E…
t… 26… % 21… %
r…
I…
f… $ 664 $ 8 $ 23 $ 47 $ 31 $ 773
c…
o…
D…
e…
p…
s… $ 2.… $ 0.… $ 0.… $ 0.… $ 0.… $ 2.…
f…
c…
o…
(…
T…
t…
e…
of
e…
n…
a…
is
c…
b…
on
t…
j…
in
w…
t…
e…
(…
is
i…
a…
t…
t…
l…
in
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f…
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j…
(…
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of
$…
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to
an
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in
t…
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f…
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TE CONNECTIVITY PLC RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP
FINANCIAL MEASURES For the Year Ended September 25, 2026 (UNAUDITED)
U.…
GA…
($
in Re…
mi… Ad… and
ex… Ac… Ot…
per Re… Ch… Am… T… A…
sh… Ch… Net Ex… I… (…
O… da… (1) (1) (1) (… (…
i…
──────────────────────────────────────────────────────────────────────────────
T… $ 1,… $ 2 $ 89 $ 71 $ — $ 2,…
S…
I… 2,… 33 28 156 — 2,…
S…
R…
i… 4 — — — — 4
(…
T… $ 3,… $ 35 $ 117 $ 227 $ — $ 4,…
O… 20… % 22… %
m…
I…
t… $ -6… $ -7 $ -21 $ -45 $ -1… $ -9…
e…
E…
t… 17… % 21… %
r…
I…
f… $ 3,… $ 28 $ 96 $ 182 $ -1… $ 3,…
c…
o…
D…
e…
p…
s… $ 11… $ 0.… $ 0.… $ 0.… $ -0… $ 11…
f…
c…
o…
(…
T…
t…
e…
of
e…
n…
a…
is
c…
b…
on
t…
j…
in
w…
t…
e…
(…
is
i…
a…
t…
t…
l…
in
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f…
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s…
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(…
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p…
p…
t…
m…
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$…
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f…
c…
t…
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f…
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f…
2…
TE CONNECTIVITY PLC RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP
FINANCIAL MEASURES For the Year Ended September 26, 2025 (UNAUDITED)
U.…
GA…
($
in Re…
mi… Ad… and
ex… Ac… Ot…
per Re… Ch… Am… T… A…
sh… Ch… Net Ex… I… (…
O… da… (1) (1) (1) (… (…
i…
──────────────────────────────────────────────────────────────────────────────
T… $ 1,… $ — $ 75 $ 70 $ — $ 1,…
S…
I… 1,… 57 51 120 — 1,…
S…
T… $ 3,… $ 57 $ 126 $ 190 $ — $ 3,…
O… 18… % 20… %
m…
I…
t… $ -1… $ -12 $ -13 $ -37 $ 618 $ -8…
e…
E…
t… 42… % 22… %
r…
I…
f… $ 1,… $ 45 $ 113 $ 153 $ 618 $ 2,…
c…
o…
D…
e…
p…
s… $ 6.… $ 0.… $ 0.… $ 0.… $ 2.… $ 9.…
f…
c…
o…
(…
T…
t…
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of
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n…
a…
is
c…
b…
on
t…
j…
in
w…
t…
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(…
is
i…
a…
t…
t…
l…
in
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f…
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s…
j…
(…
R…
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t…
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of
$…
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r…
to
a
n…
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in
t…
v…
a…
f…
c…
d…
t…
a…
a…
w…
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t…
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by
a
S…
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in
f…
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w…
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TE CONNECTIVITY PLC RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP
FINANCIAL MEASURES For the Quarter Ended December 26, 2025 (UNAUDITED)
U.S.
GAAP
($
in Res…
mil… Adj… and
exc… Acq… Oth…
per Rel… Cha… Amo… Adj…
sha… Cha… Net Exp… (No…
Op… dat… (1) (1) (1) (2)
in…
──────────────────────────────────────────────────────────────────────────────
Tr… $ 501 $ — $ 4 $ 18 $ 523
So…
In… 462 6 6 39 513
So…
To… $ 963 $ 6 $ 10 $ 57 $ 1,…
Op… 20.6 % 22… %
ma…
In…
tax $ -210 $ -1 $ -3 $ -11 $ -2…
ex…
Ef…
tax 21.9 % 21… %
ra…
In…
fr… $ 751 $ 5 $ 7 $ 46 $ 809
co…
op…
Di…
ea…
per
sh… $ 2.53 $ 0.02 $ 0.02 $ 0.15 $ 2.…
fr…
co…
op…
(1)
The
tax
ef…
of
ea…
no…
ad…
is
ca…
ba…
on
the
ju…
in
wh…
the
ex…
(i…
is
in…
and
the
tax
la…
in
ef…
for
ea…
su…
ju…
(2)
See
de…
of
no…
fi…
me…
TE CONNECTIVITY PLC RECONCILIATION OF FORWARD-LOOKING NON-GAAP FINANCIAL
MEASURES TO FORWARD-LOOKING GAAP FINANCIAL MEASURES As of October 28, 2026
(UNAUDITED)
Outlook for
Quarter Ending
─────────────────────────────────────────────────────────────────────────────
December 25,
2026
Diluted earnings per share from continuing $ 3.04
operations
Acquisition-related charges 0.06
Restructuring and other charges, net 0.05
Amortization expense 0.15
Adjusted diluted earnings per share from $ 3.30
continuing operations (1)
Net sales growth 14.6 %
Translation and other (2) 0.7
(Acquisitions) divestitures, net —
Organic net sales growth (1) 15.3 %
(1) See description of non-GAAP financial
measures.
(2) Includes IEEPA tariff refunds expected to be
received in fiscal 2027 and returned to customers.