TE Connectivity 4Q Profit Surges Despite Global Supply Issues

By Adriano Marchese

TE Connectivity Ltd. on Wednesday reported profit in the fourth quarter of fiscal 2021 more than tripled, as revenue rose despite global supply issues in the period.

For the three months ended Sept. 24, the designer and manufacturer of sensors and connectivity solutions products said earnings per share were $2.40, up from 69 cents in the comparable quarter a year ago.

Net income was $794 million, compared with $230 million a year ago.

Adjusted earnings were $1.69 a share. According to FactSet, analysts were expecting $1.64 a share.

Sales rose to $3.82 billion from $3.26 billion.

"We had a strong finish to fiscal 2021 with sales and adjusted earnings in the fourth quarter exceeding expectations despite broader global supply challenges," Chief Executive Terrence Curtin said.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

October 27, 2021 06:28 ET (10:28 GMT)

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