SWINDON, England–(BUSINESS WIRE)–Sensata Technologies (NYSE:ST), a global industrial technology company and a leading provider of sensor-rich solutions that create insights for customers, today announced an update to its third quarter 2020 financial guidance originally provided on July 28, 2020.
“We are seeing increased business activity especially in our Automotive business in Europe and the U.S. which has translated into higher orders and deliveries within the quarter,” said Jeff Cote, CEO and President of Sensata. “We now expect third quarter revenue to be in the range of $735 to $765 million and Adjusted EPS in the range of $0.50 to $0.56, assuming no significant reversal in current market conditions.”
Q3 2020 Guidance
$ in millions, except EPS
Q2-20
Prior Q3-20 Guidance
as of 7/28/20
Updated Q3-20 Guidance
as of 9/08/2020
Q/Q Sequential
Change
Revenue
$576.5
$675 – $705
$735 – $765
28% – 33%
organic growth
27% – 32% Adjusted Operating Income
$75.0
$110 – $124
$132 – $142
76% – 89%
Adjusted Net Income
$27.7
$60 – $74
$79 – $89
185% – 221%
Adjusted EPS
$0.18
$0.38 – $0.46
$0.50 – $0.56
178% – 211% Upcoming Investor Conference Presentations
Sensata Technologies will present at the Citigroup Technology Investor conference on Wednesday, September 9th at 8:55 a.m. ET and will present at the RBC Industrial Investor conference on Monday, September 14th at 4:20 p.m. ET. Both events are being held virtually and a live audio webcast of each presentation will be available on the Company’s investor relations website at: http://investors.sensata.com. A replay of the presentations will be archived and available at the same location.
About Sensata Technologies
Sensata Technologies is a leading industrial technology company that develops sensors, sensor-based solutions, including controllers and software, and other mission-critical products to create valuable business insights for customers and end users. For more than 100 years, Sensata has provided a wide range of customized, sensor-rich solutions that address complex engineering requirements to help customers solve difficult challenges in the automotive, heavy vehicle & off-road, industrial and aerospace industries. With more than 20,000 employees and operations in 11 countries, Sensata’s solutions help to make products safer, cleaner and more efficient, electrified, and connected. For more information, please visit Sensata’s website at www.sensata.com.
Safe Harbor Statement
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