TE Connectivity Revenue Jumps 18% to $9.41B as H1 2026 Net Income Triples
TE Connectivity plc, a global manufacturer of connectivity and sensor solutions, reported net sales of $9.41 billion for the six months ending March 27, 2026, up from $7.98 billion in the prior-year period. Net income surged to $1.61 billion from $541 million a year earlier.
TE Connectivity plc (NYSE: TEL), a global manufacturer of connectivity and sensor solutions, reported net sales of $9.41 billion for the six months ending March 27, 2026, an 18% increase from $7.98 billion in the six months ending March 28, 2025. Net income for the first half of fiscal 2026 reached $1.61 billion, nearly triple the $541 million reported in the same period last year. Read more earnings reports.
For the second quarter of fiscal 2026 alone, the company posted net sales of $4.74 billion, a 14.5% rise from $4.14 billion in the second quarter of fiscal 2025. Second-quarter net income came in at $855 million, a dramatic improvement from $13 million in the prior-year quarter.
Profitability Expands Sharply
Operating income for the six-month period totaled $1.92 billion, up 33% from $1.44 billion a year earlier. Gross profit for the half reached $3.48 billion compared to $2.82 billion in the prior-year period, reflecting a margin expansion as revenue growth outpaced cost increases.
The company recorded income tax expense of $297 million for the first half of fiscal 2026, down sharply from $920 million in the same period of fiscal 2025. In the second quarter alone, tax expense was $87 million versus $742 million a year earlier, contributing to the swing in net income.
Per-Share Earnings Climb
Diluted earnings per share for the six months ending March 27, 2026, came in at $5.42, up from $1.80 in the prior-year period. Second-quarter diluted EPS was $2.90, compared to $0.04 a year earlier. The weighted average diluted share count for the half was 296 million shares, down from 301 million shares in the prior-year period.
Cash Flow and Balance Sheet
Cash from operations for the first half of fiscal 2026 totaled $1.81 billion, up from $1.53 billion in the prior-year period. Cash used in investing activities was $724 million, compared to $761 million a year earlier. The company used $1.23 billion in financing activities, a reversal from the $474 million generated in the prior-year period.
The company paid $436 million in dividends during the first half of fiscal 2026, up from $209 million in the prior-year period. Cash and cash equivalents stood at $1.11 billion as of March 27, 2026, down from $1.26 billion at the end of fiscal 2025 and $2.55 billion at the end of the first half of fiscal 2025.
Total assets rose to $25.68 billion as of March 27, 2026, from $25.08 billion at September 26, 2025. Long-term debt increased to $5.55 billion from $4.84 billion over the same period. Inventory climbed to $2.99 billion from $2.70 billion, while accounts receivable edged up to $3.45 billion from $3.40 billion.
Key Financial Metrics
| Metric | H1 FY2026 | H1 FY2025 | Change |
|---|---|---|---|
| Net Sales | $9.41B | $7.98B | +18% |
| Net Income | $1.61B | $541M | +197% |
| Operating Income | $1.92B | $1.44B | +33% |
| Diluted EPS | $5.42 | $1.80 | +201% |
| Cash from Operations | $1.81B | $1.53B | +18% |
Goodwill increased to $7.44 billion as of March 27, 2026, from $7.13 billion at the end of fiscal 2025. Total liabilities declined slightly to $12.30 billion from $12.35 billion. Retained earnings stood at $13.90 billion, down marginally from $13.93 billion at the fiscal year-end.