By Adriano Marchese

 

TE Connectivity Ltd. said Wednesday that it expects higher revenue and profit in the first quarter of fiscal 2022 than the prior-year period, but below Wall Street expectations.

The company forecast net sales of about $3.7 billion, compared with $3.52 billion in the three months ended Dec. 25, 2020, reflecting an increase of 5% on a reported basis and 4% on an organic basis year-over-year.

Analysts polled on FactSet expect revenue of about $3.78 billion.

Adjusted EPS is forecasted to be about $1.60, compared with $1.47 a share in the first quarter of fiscal 2021. Analysts expect $1.64 a share in the first quarter.

Additionally, the company said it forecasts earnings per share from continuing operations to be about $1.50.

TE Connectivity expects to continue to benefit from long-term technology trends of electric vehicles, data and cloud, factory automation and renewable investments, Chief Executive Terrence Curtin said.

 

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

 

(END) Dow Jones Newswires

October 27, 2021 06:44 ET (10:44 GMT)

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