Teledyne's fourth-quarter profit beats on robust defense demand
Jan 22 (Reuters) - U.S. defense firm Teledyne TDY.N reported a fourth-quarter profit on Wednesday that beat analysts' estimates on the back of robust demand for its target detection sensors and marine equipment.
On an adjusted basis, the company earned $5.52 per share in the quarter, compared with the average analyst estimate of $5.22, according to data compiled by LSEG.
Defense firms have benefited from an uptick in spending amid the ongoing conflict in the Middle East and the Russia-Ukraine war.
Revenue from Teledyne's digital imaging business - that produces threat detection sensors and cameras for military applications - rose 2.5% to $822 million in the fourth quarter.
The company reported net sales of $1.5 billion, compared with $1.42 billion a year earlier.
Teledyne said it expects 2025 adjusted profit per share between $21.10 and $21.50. Analysts had expected $21.55.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Shounak Dasgupta)
((UtkarshUmesh.Shetti@thomsonreuters.com))
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