Company: TDY
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0001094285-25-000140
Chunk: 113

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 8
Chunk 113
---
 million due to stronger offshore energy and defense markets and sales of Test and Measurement Instrumentation increased $0.4 million.

Cost of sales increased primarily due to higher net sales.  The cost of sales percentage increased slightly.  SG&A expense increased slightly, and SG&A expense as a percentage of net sales increased slightly.  R&D expense increased due to higher Marine Instrumentation product development, and R&D expense as a percentage of net sales was consistent between the two periods.

Operating income increased primarily due to higher Environmental Instrumentation sales and operating income as a percentage of net sales decreased primarily due to unfavorable product mix.

For nine months of 2025 compared with the first nine months of 2024

Net sales increased due to higher sales in each product line.  Sales of Marine Instrumentation increased $43.0 million due to stronger offshore energy and defense markets.  Sales of Environmental Instrumentation increased $12.3 million primarily due to stronger sales of gas detection products and sales of Test and Measurement Instrumentation increased $5.5 million.  The first nine months of 2025 included $5.5 million in incremental sales from recent acquisitions.

Cost of sales increased primarily due to higher net sales, partially offset by favorable product mix.  The cost of sales percentage decreased due to favorable product mix.  SG&A expense increased primarily due to higher net sales, and SG&A expense as a percentage of net sales decreased primarily due to maintaining cost control measures year-over-year.  R&D expense increased due to higher Marine Instrumentation product development, and R&D expense as a percentage of net sales increased slightly.

Operating income increased primarily due to higher net sales and favorable product mix.  Operating income as a percentage of net sales increased primarily due to favorable product mix and slower SG&A growth as compared to stronger net sales growth.

30

Aerospace and Defense Electronics

Third QuarterChangeNine MonthsChange(dollars in millions)20252024$%20252024$%Net sales$275.5$200.2$75.3 37.6 %$782.8$580.3$202.5 34.9 %Cost of sales$162.5$111.8$50.7 45.3 %$460.9$327.2$133.7 40.9 %Selling, general and administrative expense$29.4$25.0$4.4 17.6 %$93.4$69.5$23.9