Every material Form 8-K TE Connectivity filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
TE Connectivity released unaudited segment results for fiscal 2024 and recast prior periods to reflect a new segment structure effective for the first quarter of fiscal 2025. Fiscal 2024 adjusted operating income rose to $2.99 billion from $2.68 billion, while net sales declined to $15.85 billion from $16.03 billion, and the company said the recast does not restate previously reported financial statements.
Fiscal 2024 net sales were $15.85 billion, compared with $16.03 billion in fiscal 2023.
Fiscal 2024 operating income was $2.80 billion, compared with $2.30 billion; adjusted operating income was $2.99 billion, compared with $2.68 billion.
Fourth-quarter fiscal 2024 net sales were $4.07 billion, compared with $4.04 billion for the quarter ended September 29, 2023; adjusted operating income was $755 million, compared with $699 million.
Effective for the first quarter of fiscal 2025, the Communications Solutions businesses moved into Industrial Solutions, and Transportation Solutions and Industrial Solutions are the two reporting segments.
TE Connectivity said its Senior Vice President and Corporate Controller, Robert J. Ott, will retire effective January 3, 2025, and named Reuben M. Shaffer to succeed him. The filing also sets the 2025 Annual General Meeting for March 12, 2025, with shareholder notice and proposal deadlines in November 2024, which is routine governance information.
Robert J. Ott announced his intent to retire as Senior Vice President and Corporate Controller, effective January 3, 2025.
Reuben M. Shaffer, age 45, was appointed to succeed Ott upon his retirement; he has been Vice President, Assistant Corporate Controller since December 2023.
The 2025 Annual Meeting is scheduled for March 12, 2025; shareholders of record on January 9, 2025 may vote.
The deadline for shareholder proposals or director nominations for the 2025 meeting is November 22, 2024.
TE Connectivity reported fourth-quarter fiscal 2024 net sales of $4.1 billion, up 1% year over year, and adjusted EPS of a record $1.95, up 10%. GAAP EPS fell 49% to $0.90 because of a one-time tax-related impact of $0.78, and full-year net sales were $15.8 billion. The board also raised the share repurchase authorization by $2.5 billion, and the company expects first-quarter fiscal 2025 sales and adjusted EPS to rise year over year.
Q4 adjusted EPS was a record $1.95, up 10%; GAAP diluted EPS from continuing operations was $0.90, down 49%, including a $0.78 one-time tax-related impact.
Full-year GAAP EPS was a record $10.34 and adjusted EPS was $7.56, up 12%; full-year net sales were $15.8 billion.
Board authorized a $2.5 billion increase in the share repurchase program.
First-quarter fiscal 2025 outlook: net sales of approximately $3.9 billion and adjusted EPS of $1.88; GAAP EPS of $1.64.
TE Connectivity's board appointed Sam Eldessouky, executive vice president and chief financial officer of Bausch + Lomb Corporation, as a director effective October 4, 2024, increasing the full board from 11 to 12 members. He will serve on the Audit Committee and the Joint Committee on Cybersecurity, and will receive non-employee director compensation.
Appointed effective October 4, 2024; full board increased from 11 to 12 directors
Assigned to the Audit Committee and the Joint Committee on Cybersecurity
Has been Bausch + Lomb's executive vice president and CFO since January 2022; earlier held CFO role at Bausch Health (2021 to 2022) and spent more than 12 years at Tyco International
Will enter into standard indemnification agreements with the company and TE Connectivity Corporation
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every TE Connectivity filing is on SEC EDGAR ↗. 8-K briefs of other companies →