Guidance
Raised 2026 sales and EPS guidance due to strong Q1 and record backlog.
Guidance · revenue to $6.415B
← Back to feed
01
02
03
04
AI
Demand
Capex
TDY
FY2026 Q1
RAISED
Teledyne Technologies Incorporated earnings call
Buzzberg read
Raised 2026 sales and EPS guidance due to strong Q1 and record backlog.
Teledyne delivered a record Q1 with sales, EPS, and margins all up year-over-year. Strong defense and digital imaging growth, a book-to-bill of 1.16, and improving industrial/healthcare end markets led management to raise full-year revenue and EPS guidance. The call emphasized capacity investments in defense and semiconductor supply-chain dynamics, but provided no specific cross-company signals. Q1 sales up 7.6%, non-GAAP EPS up 17.2%, operating margin +58bps despite higher R&D.
Buzzberg read Raised 2026 sales and EPS guidance due to strong Q1 and record backlog. Teledyne delivered a record Q1 with sales, EPS, and margins all up year-over-year. Strong defense and digital imaging growth, a book-to-bill of 1.16, and improving industrial/healthcare end markets led management to raise full-year revenue and EPS guidance. The call emphasized capacity investments in defense and semiconductor supply-chain dynamics, but provided no specific cross-company signals. Q1 sales up 7.6%, non-GAAP EPS up 17.2%, operating margin +58bps despite higher R&D. Read full analysisCollapse analysis
Teledyne delivered a record Q1 with sales, EPS, and margins all up year-over-year. Strong defense and digital imaging growth, a book-to-bill of 1.16, and improving industrial/healthcare end markets led management to raise full-year revenue and EPS guidance. The call emphasized capacity investments in defense and semiconductor supply-chain dynamics, but provided no specific cross-company signals. Q1 sales up 7.6%, non-GAAP EPS up 17.2%, operating margin +58bps despite higher R&D.
- Backlog book-to-bill of 1.16 for the 10th consecutive quarter, led by digital imaging (1.38).
- Full-year revenue guidance raised to ~$6.415B (up 70bps from January); non-GAAP EPS guided to $23.85-$24.15.
- Defense exposure now ~30-35% of revenue, with FLIR defense growing ~9% and strong demand for drones/counter-drones, UUVs, and space sensors.
Revenue
$1.5601B
-3% QoQ
EPS
$5.80
-8% QoQ
Gross margin
39.5%
reported
Op margin
18.86%
reported
What changed this quarter
Demand
Defense orders for counter-drone infrared cameras total tens of millions.
Management raised full-year guidance, highlighted record orders and backlog, and emphasized strong defense and industrial inflection, while remaining measured about near-term conservatism.
Demand
Unmanned aerial systems revenue includes $500 million from Black Hornet drones.
Defense orders for counter-drone infrared cameras total tens of millions.. Management raised full-year guidance, highlighted record orders and backlog, and emphasized strong defense and industrial inflection, while remaining measured about near-term conservatism.
Demand
MEMS sales grew over 20% driven by optical switching micromirrors.
Defense orders for counter-drone infrared cameras total tens of millions.. Management raised full-year guidance, highlighted record orders and backlog, and emphasized strong defense and industrial inflection, while remaining measured about near-term conservatism.
AI, capex & demand read
Platform & monetization
AI is discussed only in the context of data centers adopting devices utilizing the newest, fastest data transfer protocols, which is expected to drive growth in test and measurement instruments. No other AI-specific demand or product details mentioned.
Bookings & conversion
Defense orders for counter-drone infrared cameras total tens of millions.. Management raised full-year guidance, highlighted record orders and backlog, and emphasized strong defense and industrial inflection, while remaining measured about near-term conservatism.
Investment and capacity
Management is increasing capital expenditures significantly, with CapEx of $150 million projected for the year, up from $29.7 million in Q1. The investments are aimed at expanding capacity in defense-related areas and reducing supply chain risk, particularly around germanium machining and inventory for Chinese-sourced components.
Tone · Confident
Management raised full-year guidance, highlighted record orders and backlog, and emphasized strong defense and industrial inflection, while remaining measured about near-term conservatism.
Forward guidance
RaisedGuidance · revenue to $6.415B
| Metric | Period | Range | Midpoint | Status |
|---|---|---|---|---|
| EPS | FY2026 | $23.85–$24.15 | $24.00 | RAISED |
| EPS | FY2026 Q2 | $5.70–$5.80 | $5.75 | GUIDED |
| Revenue | FY2026 | $6.415B | $6.415B | RAISED |
Guidance credibility
2 / 2met or beat
| Issued | Metric | Target | Guide | Actual | Outcome |
|---|---|---|---|---|---|
| FY2025 Q4 | EPS | FY2026 Q1 | $5.40–$5.50 | $5.80 | Met / beat |
| FY2025 Q3 | EPS | FY2025 Q4 | $4.76–$4.98 | $6.30 | Met / beat |