TE Connectivity Releases First Quarter Fiscal Year 2023 Results

TE Connectivity recently announced its first quarter results for fiscal year 2023 ending December 30, 2022. Net sales for the quarter reached $3.8 billion, up 1% year-on-year and up 8% organically. Among them, transportation solutions sales increased organically by 14%, industrial solutions sales increased organically by 7%, and communication electronics solutions sales decreased by 11%. Adjusted earnings per share were $1.53, exceeding expectations. In addition, the company was selected for the Dow Jones Sustainability Index for the eleventh consecutive year.