Teledyne Technologies

Teledyne Technologies Incorporated (Teledyne) is based in Thousand Oaks, California. It has four segments. Digital Imaging sells infrared detectors, cameras and imaging systems, maritime and surveillance products, and X-ray products. Instrumentation sells marine, environmental, and test and measurement instruments.

Aerospace and Defense Electronics sells electronics for defense and for aircraft. Engineered Systems sells engineered products. Net sales were $1,684.9 million in Q3 2026 and $4,907.5 million for nine months. Digital Imaging was $903.0 million of the Q3 sales.

Funded backlog was nearly $5.3 billion. Robert Mehrabian is Executive Chairman. The shares trade on the NYSE in US dollars. Teledyne files 10-K and 10-Q reports.

The price of Teledyne depends on whether growth and margin stay at record levels while it pays $1.1 billion for Varex. Orders have been above sales in every quarter for three years. Digital Imaging sales rose 15% in Q3 2026 on demand for infrared detectors and systems, including for space and unmanned uses. Non-GAAP earnings per share rose 20.6% to $6.72.

Teledyne raised its 2026 outlook in each of the first three quarters, to $25.40 to $25.50 of non-GAAP earnings per share. Investors weigh this against the dependence on government budgets, the effect of tariffs and export limits, and the cost and risk of buying Varex. For the price to hold or rise, four things must be true. Growth in Digital Imaging must stay above that of the rest of the group.

The backlog of nearly $5.3 billion must turn into sales. Instrumentation and Aerospace and Defense Electronics must keep their margins. The Varex purchase must close in early 2027 and must earn its cost. The Q4 2026 report in January 2027 with the 2027 outlook is the next test.

If growth and margin hold, the gap can close over one to two years. If government budgets, tariffs or the Varex plan go wrong, the gap can last longer.

AI estimate, checked by Kevin. How it is made

1. Jan 20, 2027 · est.Pending

   Q4 2026 results and 2027 outlookTeledyne meets its 2026 outlook of $25.40 to $25.50 of non-GAAP earnings per share and gives a 2027 outlook with higher earnings, and this passes; a lower outlook fails.
2. Q1 2027 · est.Pending

   Varex purchase closesThe purchase closes in early 2027 with the approval of Varex stockholders and regulators, and this passes; a delay or a block fails.

Every passed and failed checkpoint across all picks

• October 21, 2026Teledyne reported Q3 2026 results. Net sales rose 9.4% to $1,684.9 million, and non-GAAP earnings per share rose 20.6% to $6.72. Free cash flow was $319.5 million. Teledyne raised its 2026 outlook for non-GAAP earnings per share to $25.40 to $25.50. It repurchased shares for $224.6 million from September to October 19.
• September 28, 2026Teledyne said that Jason VanWees, Vice Chairman, will retire on February 1, 2027. Mary Grace DeForest became Corporate Vice President of Investor Relations and Mergers and Acquisitions on November 1, 2026.
• August 10, 2026Teledyne agreed to buy Varex Imaging, which makes X-ray sources and detectors, for $18.90 per share in cash. The total value is about $1.1 billion with equity awards and net debt. Teledyne expects to close in early 2027, subject to regulatory approval and a vote of Varex stockholders.

Last earnings

October 21, 2026 (8-K on sec.gov)

Next earnings

Expected about January 20, 2027. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Sep 27, 2026Filed October 23, 2026 · tdy-20260927
• 8-KEarnings releaseFiled October 21, 2026 · Press release and exhibits
• 8-KChange of directors or officersFiled September 28, 2026 · tdy-20260928
• 8-KInvestor disclosureFiled August 10, 2026 · tdy-20260810
• 10-QQuarterly report for the period ended Jun 28, 2026Filed July 24, 2026 · tdy-20260628
• 8-KEarnings releaseFiled July 22, 2026 · Press release and exhibits
• 10-QQuarterly report for the period ended Mar 29, 2026Filed April 24, 2026 · tdy-20260329
• 8-KChange of directors or officers and Change to shareholder rights or bylawsFiled April 23, 2026 · Read it on sec.gov
• 8-KEarnings releaseFiled April 22, 2026 · Press release and exhibits
• 8-KNew material agreementFiled February 26, 2026 · tdy-20260225

Every filing on SEC EDGAR (CIK 1094285)

• Government budgets can change. Cuts, delays in awards and shutdowns can slow defense and space orders and payments. Teledyne names these risks in its release.
• The Varex purchase can disappoint. Teledyne plans to pay about $1.1 billion from cash and its credit facility. Varex stockholders and regulators must approve it, and Teledyne must integrate a new business.
• Trade rules can raise costs. The 10-Q says that tariffs continue and that China limits exports of some rare earth minerals that Teledyne uses. Tariff refunds helped the margin in 2026, and they may not repeat.
• Instrumentation grows slowly. Its Q3 2026 sales rose only 1.9%, and sales of electronic test and measurement instruments fell by $4.8 million.
• Commercial aerospace is weak. Sales of aerospace electronics fell by $4.6 million in Q3 2026, and lower aircraft production can reduce them more.

At September 27, 2026, Teledyne had total debt of $2,027.8 million, of which $0.1 million is current, and cash of $562.4 million. Net debt was $1,465.4 million, against $2,123.0 million at December 28, 2025. Read more

Teledyne Technologies does not pay a dividend.

Source: company filings and market data, read on November 13, 2026.