Jun 2026 (Q2 FY26) — Jul 22, 2026
Teledyne Q2 FY26 — Strongest Quarterly Performance Driven by Digital Imaging and Record Orders
Read the full callTeledyne (TDY) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Teledyne earnings: last reported Wed, 22 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,663 | +9.8% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 20.0 | +1.7 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 252 | +19.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
14 of 16 judged targets kept · 55 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Aerospace and Defense Electronics segment full-year sales growth | probably over 6% | Mar 2026 | And then aerospace and defense, 7.2%, followed by Engineered Systems, about 5.6% | Revised Up |
| Full-year capital expenditures | about $150 million | Mar 2026 | We're investing more CapEx this year than we did last year, probably about a 30% increase in CapEx year-over-year | On Track |
2 of TELEDYNE TECHNOLOGIES INC's 71 targets were missed. See which ones, and which are quietly gone. The 2 above are the free sample; 69 more targets are in the full ledger.
Claimed
- Achieved strongest quarterly orders, sales, and operating profit in company history.
- Sales increased 9.8% year-over-year.
- Non-GAAP earnings increased 20.8% year-over-year.
- Orders exceeded sales for the 11th consecutive quarter, with a book-to-bill ratio of 1.23.
- Full-year 2026 revenue outlook raised by $120 million and non-GAAP EPS outlook raised by $0.55 per share.
Qualified
- Instrumentation segment non-GAAP operating margin decreased year-over-year due to product mix, specifically lower-margin autonomous underwater vehicles.
- Supply chain headwinds for germanium and rare earth magnets impact over $1 billion of annual revenue.
- M&A market features "crazy prices," with competitors outbidding Teledyne by 30-33% on some acquisitions.
Price
$619.76 +0.19% · +$1.16
Performance +10.2% 1Y
1Y: $562.26 on 17 Oct 2025 → $619.76. High $691.3 (7 Aug 2026), low $484.47 (20 Nov 2025).
- Previous close
- $618.6
- 52-week range
- $484.47 – $691.3
- One year
- +8.38%
Overview
- Symbol
- TDY
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
14 of 16 judged targets kept · 55 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Aerospace and Defense Electronics segment full-year sales growth | probably over 6% | Mar 2026 | And then aerospace and defense, 7.2%, followed by Engineered Systems, about 5.6% | Revised Up |
| Full-year capital expenditures | about $150 million | Mar 2026 | We're investing more CapEx this year than we did last year, probably about a 30% increase in CapEx year-over-year | On Track |
Claimed
- Achieved strongest quarterly orders, sales, and operating profit in company history.
- Sales increased 9.8% year-over-year.
- Non-GAAP earnings increased 20.8% year-over-year.
- Orders exceeded sales for the 11th consecutive quarter, with a book-to-bill ratio of 1.23.
- Full-year 2026 revenue outlook raised by $120 million and non-GAAP EPS outlook raised by $0.55 per share.
Qualified
- Instrumentation segment non-GAAP operating margin decreased year-over-year due to product mix, specifically lower-margin autonomous underwater vehicles.
- Supply chain headwinds for germanium and rare earth magnets impact over $1 billion of annual revenue.
- M&A market features "crazy prices," with competitors outbidding Teledyne by 30-33% on some acquisitions.
The full ledger
Open TELEDYNE TECHNOLOGIES INC’s full ledger
A free account opens 5 company ledgers a month. All 71 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 22, 2026
Teledyne Q1 FY26 — Record Sales, EPS, and Operating Margin
Read the full callDec 2025 (Q4 FY25) — Jan 21, 2026
Teledyne Q4 FY25 — Record Orders, Sales, and Non-GAAP Earnings
Read the full callEvery analysed call
Teledyne earnings calls (TDY)
Financials
What the filings say
Net profit, year on year: +20% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,444 | 1,502 | 1,450 | 1,514 | 1,540 | 1,612 | 1,560 | 1,663 |
| Expenses | 1,173 | 1,265 | 1,191 | 1,236 | 1,257 | 1,283 | 1,266 | 1,329 |
| Operating profit | 271 | 237 | 259 | 278 | 283 | 330 | 294 | 333 |
| Operating margin | 18.8% | 15.8% | 17.9% | 18.4% | 18.4% | 20.4% | 18.9% | 20.0% |
| Interest | 16 | 14 | 17 | 18 | 13 | 12 | 12 | 14 |
| Profit before tax | 255 | 226 | 239 | 261 | 274 | 321 | 279 | 321 |
| Tax rate | −2.8% | 11.8% | 21.0% | 19.3% | 19.3% | 14.2% | 18.6% | 21.7% |
| Net profit | 262 | 199 | 189 | 210 | 221 | 276 | 227 | 252 |
| EPS ($ per share) | 5.61 | — | 4.03 | 4.48 | 4.71 | — | 4.90 | 5.44 |
| Line item | Dec 2018 | Dec 2019 | Jan 2021 | Jan 2022 | Jan 2023 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 |
| Reserves | 2,524 | 2,926 | 3,328 | 3,773 | 4,562 | 5,448 | 6,267 | 7,141 |
| Total liabilities | 1,580 | 1,865 | 1,856 | 6,808 | 6,181 | 5,302 | 4,645 | 4,771 |
| Fixed assets | 443 | 488 | 489 | 828 | 770 | 777 | 745 | 839 |
| Total assets | 3,809 | 4,580 | 5,085 | 14,430 | 14,354 | 14,528 | 14,201 | 15,285 |
| Line item | Dec 2018 | Dec 2019 | Jan 2021 | Jan 2022 | Jan 2023 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 447 | 482 | 619 | 825 | 487 | 836 | 1,192 | 1,191 |
| Cash from investing | -89 | -572 | -99 | -3,824 | -175 | -190 | -207 | -938 |
| Cash from financing | -271 | 142 | -62 | 2,807 | -110 | -651 | -946 | -555 |
| Net cash flow | 72 | 57 | 474 | -198 | 163 | 10 | 2 | -297 |
| Capital expenditure | -87 | -88 | -71 | -102 | -93 | -115 | -84 | -117 |
| Free cash flow | 360 | 394 | 548 | 723 | 394 | 721 | 1,108 | 1,074 |
TDY revenue by segment
Aerospace and Defense Electronics grew from 14% to 17% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2027 | Q2 FY2027 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Digital Imaging | 53% | 55% | 52% | 51% | 51% | 53% | 52% | 52% | +12.7% |
| Instrumentation | 24% | 25% | 24% | 24% | 24% | 24% | 23% | 23% | +5.5% |
| Aerospace and Defense Electronics | 14% | 13% | 17% | 17% | 18% | 17% | 18% | 17% | +8.2% |
| Engineered Systems | 9% | 8% | 7% | 7% | 7% | 6% | 7% | 7% | +8.4% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
TDY operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|
| Book-to-bill | 1.05 ratioBut if you come back and look at it as a whole, big picture, our book-to-bill across the company is 1.05x.Source: earnings call transcript | 1.09 ratioAnd the overall book-to-bill ratio of 1.09.Source: earnings call transcript | 1.07 ratioSo total for Q4 is 1.07.Source: earnings call transcript | 1.16 ratioGiven stronger sales in the first quarter, but also record orders and backlog with a book-to-bill of 1.16, which is our tenth consecutive quarter of book-to-bill of over 1, we're comfortable in increasing both our expected sales and earnings for 2026.Source: earnings call transcript | 1.23 ratioOverall, our book-to-bill was 1.23, led by digital hedging, which was higher than 1.4% -- 1.4x.Source: earnings call transcript | +6% |
| Book-to-bill Instrumentation | 1.04 ratioOur instruments book-to-bill is 1.04x.Source: earnings call transcript | 0.9 ratioIn the Instrumentation segment, we had a book-to-bill overall of 0.9, a little higher in T&M, for example, 0.98; Environmental closer to 0.95; marine closer to 0.8, about 0.8.Source: earnings call transcript | — | — | — | -13.5% |
| Book-to-bill Digital Imaging | 1.11 ratioOverall, Digital Imaging book-to-bill is 1.11x.Source: earnings call transcript | 1.12 ratioThird quarter Digital Imaging book-to-bill was 1.12x.Source: earnings call transcript | 1.06 ratioDigital imaging is above 1 or 1.06.Source: earnings call transcript | ~1.38 ratioDigital Imaging right now is looking like about 1.38 in book-to-bill in instruments, a lot of short-cycle stuff, but it's still holding above 1, just slightly over 1.Source: earnings call transcript | — | — |
| Backlog | ~$4BWell, the Qioptiq backlog that we acquired increased about $60 million because of the 2 new programs overall backlog, I think year-over-year is at the highest we've had, including Qioptiq, it's about I'm going to say about $4 billion, which for us is pretty healthy.Source: earnings call transcript | — | — | ~$4.6BWe have about $4.6 billion in our backlog right now, and those will translate into revenue.Source: earnings call transcript | ~$5BOrders have now exceeded sales for the 11th consecutive quarter, and we ended June with approximately $5 billion of funded backlog.Source: earnings call transcript | — |
| Book-to-bill Aerospace and Defense Electronics | — | 0.84 ratioAnd then in Aerospace and Defense Electronics, again, longer cycle business, lumpiness in some larger orders, book-to-bill ratio was 0.84, and Engineered Systems was over 2x in the quarter.Source: earnings call transcript | 1.25 ratioAerospace and defense is higher at 1.25.Source: earnings call transcript | — | — | +48.8% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2027 · share of revenue
- US 51% ↓ 3 pt
- Europe 27% ↑ 3 pt
- Asia 13% ↓ 2 pt
- Countries Other Than United States and Europe and Asia 9% ↑ 1 pt
As TDY cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
38 filings between Oct 21, 2025 and Aug 12, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$11.92M
11 sales by 4 insiders
Compensation
not trading decisions- 9
- Award — granted as compensation
- 4
- Option exercise — converted options into shares
- 8
- Tax withheld — shares kept back by the company to cover tax
Also filed: 6 dispositions to the issuer.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| VanWees Jason | — | $4.73M | Feb 3, 2026 |
| LORNE SIMON M | — | $4.39M | Aug 12, 2026 |
| SMITH MICHAEL T | — | $2.48M | Jan 29, 2026 |
| VON SCHACK WESLEY W | — | $321.3K | Aug 12, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 12, 2026 | VON SCHACK WESLEY W Director | Sale | 468 | $321.3K |
| Aug 12, 2026 | LORNE SIMON M Director | Sale | 2,000 | $1.36M |
| Aug 12, 2026 | LORNE SIMON M Director | Sale | 40 | $27.3K |
| Aug 12, 2026 | LORNE SIMON M Director | Sale | 3,451 | $2.35M |
| Aug 12, 2026 | LORNE SIMON M Director | Sale | 958 | $654.1K |
| Apr 22, 2026 | VanWees Jason Vice Chairman | Option exercise | 126 | $0 |
| Apr 22, 2026 | VanWees Jason Vice Chairman | Tax withheld | 65 | $0 |
| Apr 22, 2026 | Morales Vincent J Director | Award | 319 | $0 |
| Apr 22, 2026 | Malone Robert A Director | Award | 319 | $0 |
| Apr 22, 2026 | Black Laura A. Director | Award | 319 | $0 |
| Apr 22, 2026 | LORNE SIMON M Director | Award | 319 | $0 |
| Apr 22, 2026 | Kumbier Michelle Director | Award | 319 | $0 |
| Apr 22, 2026 | VON SCHACK WESLEY W Director | Award | 319 | $0 |
| Apr 22, 2026 | SMITH MICHAEL T Director | Award | 319 | $0 |
| Apr 22, 2026 | Sherburne Jane Cecile Director | Award | 319 | $0 |
| Feb 3, 2026 | VanWees Jason Vice Chairman | Sale | 2,220 | $1.40M |
| Feb 3, 2026 | VanWees Jason Vice Chairman | Sale | 2,580 | $1.63M |
| Feb 3, 2026 | VanWees Jason Vice Chairman | Option exercise | 5,000 | $960.0K |
| Feb 3, 2026 | VanWees Jason Vice Chairman | Sale | 280 | $176.7K |
| Feb 3, 2026 | VanWees Jason Vice Chairman | Option exercise | 2,500 | $308.4K |
| Feb 3, 2026 | VanWees Jason Vice Chairman | Sale | 2,420 | $1.53M |
| Jan 29, 2026 | SMITH MICHAEL T Director | Sale | 2,469 | $1.53M |
| Jan 28, 2026 | SMITH MICHAEL T Director | Sale | 1,531 | $950.8K |
| Jan 24, 2026 | VanWees Jason Vice Chairman | Disposition to issuer | 184 | $0 |
| Jan 24, 2026 | Bobb George C III President and CEO | Tax withheld | 201 | $0 |
| Jan 24, 2026 | Bobb George C III President and CEO | Disposition to issuer | 239 | $0 |
| Jan 24, 2026 | Cibik Melanie Susan EVP, GenCounsel, CCO & Sec. | Tax withheld | 145 | $0 |
| Jan 24, 2026 | MEHRABIAN ROBERT Executive Chairman | Tax withheld | 1,630 | $0 |
| Jan 24, 2026 | Cibik Melanie Susan EVP, GenCounsel, CCO & Sec. | Disposition to issuer | 165 | $0 |
| Jan 24, 2026 | VanWees Jason Vice Chairman | Tax withheld | 160 | $0 |
| Jan 24, 2026 | MEHRABIAN ROBERT Executive Chairman | Disposition to issuer | 1,350 | $0 |
| Jan 24, 2026 | Blackwood Stephen Finis Executive VP and CFO | Tax withheld | 123 | $0 |
| Jan 24, 2026 | Blackwood Stephen Finis Executive VP and CFO | Disposition to issuer | 137 | $0 |
| Jan 24, 2026 | Belak Cynthia Y Senior VP and Controller | Tax withheld | 118 | $0 |
| Jan 24, 2026 | Belak Cynthia Y Senior VP and Controller | Disposition to issuer | 131 | $0 |
| Jan 23, 2026 | VanWees Jason Vice Chairman | Tax withheld | 50 | $0 |
| Jan 23, 2026 | VanWees Jason Vice Chairman | Option exercise | 121 | $0 |
| Oct 21, 2025 | Black Laura A. Director | Award | 183 | $0 |
| Sep 12, 2025 | Sherburne Jane Cecile Director | Sale | 2,000 | $1.11M |
| Jul 30, 2025 | Bobb George C III President and CEO | Option exercise | 6,735 | $1.46M |
| Jul 30, 2025 | Bobb George C III President and CEO | Sale | 6,260 | $3.48M |
| Jul 30, 2025 | Bobb George C III President and CEO | Sale | 475 | $264.2K |
| Jul 28, 2025 | SMITH MICHAEL T Director | Sale | 1,975 | $1.11M |
| Jul 28, 2025 | MEHRABIAN ROBERT Executive Chairman | Gift | 14,400 | $0 |
| Jul 25, 2025 | LORNE SIMON M Director | Sale | 4,533 | $2.49M |
| Jul 25, 2025 | LORNE SIMON M Director | Sale | 400 | $220.5K |
| Jul 25, 2025 | LORNE SIMON M Director | Sale | 1,378 | $758.4K |
| Apr 23, 2025 | Sherburne Jane Cecile Director | Award | 468 | $0 |
| Apr 23, 2025 | Singleton Denise R Director | Award | 468 | $0 |
| Apr 23, 2025 | SMITH MICHAEL T Director | Award | 468 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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