Teledyne Technologies Inc (NYSE:TDY) stock rose 0.21% (As on January 23, 11:27:11 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the fourth quarter of FY 24. eledyne’s cash and cash equivalents totaled $649.8 million as of Dec. 29, 2024, compared with $648.3 million as of Dec. 31, 2023. Its long-term debt was $2.65 billion at the end of the fourth quarter of 2024 compared with $2.64 billion as of Dec. 31, 2023. Cashflow from operating activities totaled $1.19 billion during 2024 compared with $0.84 billion in the prior year. Capital expenditure amounted to $29 million in the fourth quarter, down from $40.2 million in the prior-year quarter. TDY generated free cash flow of $303.4 million, significantly up from $124.2 million in the prior-year quarter. Net income attributable to Teledyne was $198.5 million ($4.20 diluted earnings per share) for the fourth quarter of 2024, compared with $323.1 million ($6.75 diluted earnings per share) for the fourth quarter of 2023, a decrease of 38.6%.

Moreover, The Digital Imaging segment’s fourth quarter 2024 net sales were $822.2 million, compared with $802.5 million, an increase of 2.5%. The fourth quarter of 2024 net sales increased primarily due to higher sales of unmanned air systems, surveillance systems, and commercial infrared imaging systems partially offset by lower sales of X-ray products, industrial automation imaging systems, and unmanned ground systems. The Instrumentation segment’s fourth quarter 2024 net sales were $368.9 million, compared with $335.2 million, an increase of 10.1%. The Aerospace and Defense Electronics segment’s fourth quarter 2024 net sales were $196.5 million, compared with $184.0 million, an increase of 6.8%. The Engineered Systems segment’s fourth quarter 2024 net sales were $114.7 million, compared with $103.3 million, an increase of 11.0%.

TDY in the fourth quarter of FY 24 has reported the adjusted earnings per share of $5.52, beating the analysts’ estimates for the adjusted earnings per share of $5.23, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 5.4 percent to $1.5 billion in the fourth quarter of FY 24, beating the analysts’ estimates for revenue of $1.45 billion.

Teledyne expects to generate adjusted earnings in the band of $4.80-$4.90 per share for the first quarter of 2025. The Zacks Consensus Estimate for first-quarter earnings is pegged at $5.14, higher than the company’s guided range. For 2025, Teledyne expects its adjusted earnings to be in the range of $21.10-$21.50 per share. The Zacks Consensus Estimate for earnings is pegged at $21.62 per share, higher than the company’s guided range.