Teledyne Technologies Incorporated (TDY) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Teledyne's Third Quarter Earnings Call. Here is our first speaker, Mr. Jason Van Weese. Thank you, and good morning, everyone. This is Jason Van Weese, Vice Chairman, and I'd like to welcome everyone to Teledyne's Third 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 Moravian, President and CEO, George Bob, EVP and CFO Steve Blackwood, and Melanie Sivek, EVP, General Counsel, Chief Compliance Officer, and Secretary. After remarks by Robert, George, and Steve, we'll 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 periodic SEC filings. And, of course, actual results may differ materially. In order to avoid potential selective disclosures, This call is simultaneously being webcast and a replay via webcast and island will be available for approximately one month. Here's Robert. Good morning, everyone, and welcome to our conference call. First, I must say I'm very pleased to announce that we had record, all-time record quarterly sales, non-gap earnings per share, and free cash flows. Sales increased 6.7% from last year. Non-gap earnings increased 9.2%, and free cash flow was a record $314 million. Furthermore, total company new orders were also a quarterly record, due in part to continued backlog growth at Teledyne Fleer. Given our strong third quarter performance, recovering commercial short cycle businesses, and also robust backlog growth, we're raising our full year earnings outlook at both the bottom and the top of the forecaste...