Teledyne Technologies Incorporated (TDY) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Teledyne's first quarter earnings release conference call. Here's our first speaker, Mr. Jason Van Weese. Good morning, and thanks everyone for joining us. This is Jason Van Weese, Vice Chairman, and we're about to begin our first quarter 2025 earnings release conference call. We released our earnings earlier this morning before the market opened. Joining me today are Teledyne's Executive Chairman, Robert Morabian, CEO Edwin Rocks, President and COO George Bob, and EVP CFO Steve Blackwood, and finally Melanie Sivek, EVP, General Counsel, Chief Compliance Officer, and Secretary. After remarks by Robert, Edwin, George, and Steve, we will ask for your questions. But of course, before we get started, attorneys have reminded me to tell you that all forward-looking statements made this morning are subject to various assumptions, risks, and caveats, as noted in the earnings release and our SEC filings. approximately one month. Here is Robert. Thank you, Jason, and good morning everyone, and thank you for joining our earnings call. In the first quarter, we achieved many records, including first quarter total sales, which increased 7.4%, accelerating for two quarters in a row and growing at the greatest rate in years. Sales also increased organically in every segment. Furthermore, non-GAAP earnings per share and GAAP earnings per share and operating non-GAAP operating margin were also records for any first quarter. We're pleased to close the key optic carve-out acquisition in the first quarter. But I should note also that a few months before closing, Qoptic was awarded major new contracts with both the UK and German Ministry of Defense, resulting in multi-year acquired backlog. In any event, even excluding this acquired backlog, orders for Teledyne as a whole excee...