Sensata Technologies sees Q3 profit grow to $75.7M

ATTLEBORO – Sensata Technologies Holding PLC on Tuesday reported a profit of $75.7 million in the third quarter, an increase from $70.7 million one year prior.

Earnings per diluted share were 49 cents, compared with 44 cents one year prior.

The company, which manufactures sensing, electrical protection and control and power- management solutions, said that revenue for the quarter totaled $788.3 million, a decline from $849.7 million in the third quarter of 2019.

“The rapid rebound of our business this quarter is a testament to the flexibility of Sensata’s business model and the resiliency of our supply chain,” said Jeff Cote, CEO and president. “This sequential improvement demonstrates the healthy long-term prospects for Sensata, both in our core sensing operations as well as in the emerging Megatrends of Electrification and Smart & Connected.”

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The company’s performing sensing segment revenue totaled $580.9 million, a decline from $628.5 million one year prior. The company’s sensing solutions segment’s revenue totaled $207.4 million, a decline from $221.1 million.

“I am very pleased with Sensata’s ability to quickly adjust to the market upswing and deliver for our customers as they increased production during the third quarter,” said Paul Vasington, executive vice president and chief financial officer. “This enabled us to deliver higher sequential revenue growth than we had anticipated earlier in the quarter.”