Impact of Additional Week on Net Sales
STE
connectivity
Earnings Highlights
Q3 Sales in line with Expectations & Adjusted EPS Exceeding Guidance
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Sales of $4.0B, with Y/Y organic growth in the Transportation and Industrial Segments
Transportation up 7% organically Y/Y, with growth in all businesses
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Industrial up 2% organically Y/Y, with growth in AD&M, Medical, and Energy
Communications down 37% organically Y/Y, due to expected market weakness
Orders of $4.0B, flat sequentially, indicating stability
Adjusted Operating Margins of 17.3%, Adjusted EPS of $1.77
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Expanded margins 130bps sequentially driven by the Transportation & Industrial segments
Strong Free Cash Flow generation of ~$1.5B YTD, up ~40% Y/Y; ~$1.2B returned to shareholders
Connecting Our World report issued, with commitments to the Science Based Targets Initiative
Q4 Guidance
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Expect Q4 Sales of $4.0B and Adjusted EPS ~$1.75
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Sales & EPS expected to be similar to Q3 levels, with Y/Y Sales growth in the Transportation &
Industrial Segments
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Q4 sales comparisons to prior year exclude the impact of an additional week in the fourth quarter of fiscal 2022 which contributed sales of $306 million
Organic Net Sales Growth (Decline), Adjusted EPS, Adjusted Operating Margin and Free Cash Flow are non-GAAP financial measures; see Appendix for descriptions and reconciliationsView entire presentation