The raised guidance and strong Digital Imaging growth are positive, but the revenue miss and pending Varex acquisition (dilutive near-term) create uncertainty. Monitor Varex shareholder vote on Oct 28 and Q4 results for integration progress.
Price Chart
Executive Summary
Teledyne reported Q3 2026 non-GAAP EPS of $6.72, a 0.4% beat vs consensus of $6.69, on revenue of $1,684.9M (slightly below $1.72B consensus). The company raised full-year 2026 non-GAAP EPS guidance to $25.40-$25.50 from $24.45-$24.65, announced a pending $1.1B acquisition of Varex Imaging, and repurchased $224.6M in stock.
Key Financial Metrics
Key Facts
- Q3 2026 non-GAAP EPS $6.72 vs consensus $6.69 (beat by 0.4%)
- Q3 2026 revenue $1,684.9M vs consensus $1.72B (miss by ~2.0%)
- Revenue grew 9.4% YoY to $1,684.9M; GAAP EPS $5.82 (+25.2% YoY)
- Raised full-year 2026 non-GAAP EPS guidance to $25.40-$25.50 from $24.45-$24.65
- Announced pending acquisition of Varex Imaging for ~$1.1B (cash, expected close early 2027)
- Stock repurchases of $224.6M at weighted avg price $607.03 per share
- Operating cash flow $352.5M; free cash flow $319.5M; net debt $1,465.4M (leverage 0.9x)
- Digital Imaging segment sales +15.0% YoY; operating income +48.1% YoY
Financial Impact
Non-GAAP EPS beat by $0.03 (0.4%); revenue missed by ~$35M (2.0%); guidance raised by $0.80-$0.85 at midpoint
Risk Factors
- Revenue miss of ~2% vs consensus may pressure the stock near-term
- Pending $1.1B Varex acquisition adds integration risk and potential leverage increase
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001094285-26-000055 |
| Document: tdy-20261021.htm | 0001094285-26-000055 |
| Document: 0001094285-26-000055-index-headers.html | 0001094285-26-000055 |
| Document: 0001094285-26-000055-index.html | 0001094285-26-000055 |
| Document: 0001094285-26-000055.txt | 0001094285-26-000055 |
| 8-K Data (Synthetic) | 0001094285-26-000055 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 6d ago | Institutional Cluster | $620.47 $625.41 | ▲ +0.80% | ▲ +1.32% | $654.99 (+5.56%) |
Oct 21, 2026 6d ago | 8-K | $630.10 $620.47 | ▼ −1.53% | ▼ −0.35% | $654.99 (+3.95%) |
Aug 13, 2026 10w ago | Insider Cluster | $673.66 $679.67 | ▲ +0.89% | ▲ +1.09% | $654.99 (−2.77%) |
Aug 12, 2026 10w ago | 144 | $686.49 $673.66 | ▼ −1.87% | ▼ −2.57% | $654.99 (−4.59%) |
Aug 10, 2026 11w ago | 8-K | $690.25 $681.74 | ▼ −1.23% | ▼ −0.91% | $654.99 (−5.11%) |
Jul 22, 2026 13w ago | 8-K | $650.50 $651.22 | ▲ +0.11% | ▲ +1.35% | $654.99 (+0.69%) |
Apr 22, 2026 26w ago | 8-K | $652.17 $649.54 | ▼ −0.40% | ▼ −0.01% | $654.99 (+0.43%) |
US Market Status
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