Company: TDY
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0001094285-25-000140
Chunk: 1

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 2
Chunk 1
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 cost increases on material used in our products or significant production delays, which could adversely affect our business, financial condition, operational results and cash flows.  Consistent with our strategy, we are optimizing operations and facilities and taking measures to contain costs to reduce the impact from tariffs.  We may also implement additional pricing actions to mitigate the impact of these tariffs.  To date, our strategies have helped minimize our exposure to these conditions. 

The current U.S. Government shutdown could negatively impact our businesses.  Previous U.S. Government shutdowns have resulted in delays in anticipated contract awards, issuances of export licenses, shipments and payments of invoices for several of our businesses, and the current shutdown could have similar or worse effects.

Sales recorded and costs incurred recorded by subsidiaries operating outside of the United States are translated into U.S. dollars using exchange rates effective during the respective period.  As a result, we are exposed to movements in the exchange rates of various currencies against the U.S. dollar.  See Note 13 for additional discussion around our derivative instruments and hedging activities used to mitigate these impacts.

As part of a continuing effort to reduce costs and improve operating performance, we continue to take actions to consolidate and relocate certain facilities and reduce headcount across various businesses, reducing our exposure to weaker end markets.  We continue to seek cost reductions in our businesses.

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Table of Contents

Results of Operations

  Third Quarter%Nine Months%(dollars in millions)20252024Change20252024ChangeNet sales$1,539.5 $1,443.5 6.7 %$4,503.1 $4,167.7 8.0 %Costs and expensesCost of sales880.0 823.9 6.8 %2,579.5 2,375.6 8.6 %Selling, general and administrative238.2 226.1 5.4 %701.5 670.6 4.6 %Research and development83.4 73.0 14.2 %240.1 221.2 8.5 %Acquired intangible asset amortization55.1 49.8 10.6 %161.7 148.3 9.0 %Total costs and expenses1,256.7 1,172.8 7.2 %3,682.8 3,415.7 7.8 %