April 22 (Reuters) – Teledyne Technologies on Wednesday raised its profit forecast for full-year 2026, as the sensing systems maker continues to benefit from robust demand across its digital imaging, instrumentation, and aerospace and defense segments.
Teledyne continues to benefit from elevated demand for defense and surveillance equipment amid heightened geopolitical tensions, and the company noted further boost to its top-line from revenue added from recent acquisitions.
“Organic growth was strongest in our Digital Imaging segment, where infrared detectors and systems for space, airborne, marine and land applications, as well as complete unmanned aerial systems contributed significantly,” said CEO Robert Mehrabian.
“Furthermore, our industrial imaging and X-ray businesses each returned to year-over-year growth.”
The company now expects full-year adjusted profit between $23.85 and $24.15 per share, compared with its prior range of $23.45 to $23.85.
The mid-point of the new forecast range is 18 cents ahead of analysts’ estimate of $23.82, according to data compiled by LSEG.
On an adjusted basis, Teledyne earned $5.80 per share in the quarter ended March 29, compared with estimates of $5.48 a share.
The Thousand Oaks, California-based company posted a 7.6% year-on-year rise in quarterly revenue to $1.56 billion, compared with estimates of $1.52 billion.
(Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Shailesh Kuber)
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