ATTLEBORO – Sensata Technologies Holdings PLC earned a profit of $140.3 million in the third quarter of 2022, compared with an $85 million profit one year prior, the company reported Tuesday.
Earnings per diluted share was 91 cents, compared with 53 cents per diluted share one year prior.
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Revenue totaled $1.02 billion for the quarter, a rise from $951 million a year ago and exceeding Wall Street’s forecast. The average estimate of six analysts surveyed by Zacks Investment Research was for $1.01 billion of revenue.
“Sensata delivered solid third quarter financial results due to strong market outgrowth of 650 basis points, improving markets, and growth from M&A [mergers and acquisitions] despite increased foreign exchange and inventory headwinds compared to the prior-year quarter,” Jeff Cote, Sensata CEO and president, said in a statement. “We continued to invest in growth and improve our execution during the quarter and margins rose sequentially toward our medium-term target level.”
The company’s performance-sensing segment revenue totaled $754.5 million in the quarter, a rise from $706.5 million one year prior. Sensing solutions segment revenue totaled $263.7 million, a rise from $244.6 million in the third quarter of 2021.
