Company: TDY
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0001094285-25-000140
Chunk: 64

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 1
Chunk 64
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0$125.1$(10.1)(8.1)%$332.4$325.1$7.3 2.2 %Cost of sales$96.2$105.9$(9.7)(9.2)%$278.0$281.2$(3.2)(1.1)%Selling, general and administrative expense$6.5$6.1$0.4 6.6 %$18.9$20.4$(1.5)(7.4)%Research and development expense$0.1$0.2$(0.1)(50.0)%$0.4$0.4$— — %Operating income$12.2$12.9$(0.7)(5.4)%$35.1$23.1$12.0 51.9 %As percentage of net sales:Cost of sales83.7 %84.7 %83.6 %86.5 %Selling, general and administrative expense5.6 %4.9 %5.7 %6.3 %Research and development expense0.1 %0.1 %0.1 %0.1 %Operating income10.6 %10.3 %10.6 %7.1 %

Third quarter of 2025 compared with the third quarter of 2024

Net sales decreased due to lower sales of $9.2 million for engineered products and lower sales of $0.9 million for energy systems.

Cost of sales and cost of sales as a percentage decreased primarily due to favorable program mix.  SG&A expense and SG&A expense as a percentage of net sales increased due to higher employee compensation costs.

Operating income decreased primarily due to lower net sales, partially offset by favorable program mix, and operating income as a percentage of net sales increased due to favorable program mix.

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

Net sales increased due to higher sales of $9.0 million for engineered products, partially offset by a $1.7 million decrease in energy systems.

Cost of sales decreased primarily due to favorable program mix, partially offset by higher net sales and cost of sales as a percentage of net sales decreased primarily due to favorable program mix.  SG&A expense decreased primarily due to lower bid and proposal expense and SG&A expense as a percentage of net sales decreased.

Operating