(Reuters) -U.S. defense firm Teledyne Technologies topped expectations for first-quarter profit and revenue on Wednesday, aided by sustained demand for its target detection sensors and electronic components used in aerospace and defense.
The company also maintained its full-year profit forecast, joining the ranks of other defense companies, as uncertainty surrounding U.S. President Donald Trump’s tariffs makes it difficult for the industry to quantify impacts.
“We are choosing to maintain our prior earnings outlook given the current very unpredictable environment,” said executive chairman Robert Mehrabian.
Despite the lack of clarity, defense firms continue to benefit from a boost in demand due to ongoing geopolitical tensions around the world. They are also expected to gain from a higher defense budget anticipated under Trump’s administration.
Teledyne’s revenue from its digital imaging business, which produces threat detection sensors and cameras for military applications, rose 2.2% to $757 million in the quarter.
The company’s net sales for the quarter rose 7.4% to $1.45 billion compared to the same period last year, beating analysts’ average estimate of about $1.43 billion, according to data compiled by LSEG.
Teledyne earned an adjusted profit per share of $4.95, compared with expectations of $4.92.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Vijay Kishore)
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