The company forecasts adjusted earnings of $3.05 per share, topping estimates of $2.96, as AI-related orders jump.
TE Connectivity raised its fourth-quarter adjusted earnings forecast to $3.05 per share, above analysts’ expectations of $2.96, citing strong demand for AI-related tools and data center products. Orders surged by over $1 billion to $5.7 billion, driven by growth in AI-facing customers and energy infrastructure.
The company’s backlog has expanded significantly, with orders up 70% this year, positioning it for continued momentum into next year. CEO Terrence Curtin noted that elevated raw material costs, particularly for oil-based resins, are being offset by price increases to protect margins.
TE Connectivity also stated it would return any tariff refunds to customers rather than implementing broad price cuts, maintaining its pricing strategy amid geopolitical tensions.