Teledyne Technologies Incorporated reported record third quarter 2026 financial results, with net sales reaching $1,684.9 million. This figure represents a 9.4% increase compared to the same period in 2025. The company reported GAAP diluted earnings per share of $5.82, an increase of 25.2% year-over-year, and non-GAAP diluted earnings per share of $6.72, a 20.6% increase.
Operating margin for the quarter was 20.6%, with non-GAAP operating margin reaching 23.9%. The company generated $352.5 million in cash from operations and $319.5 million in free cash flow. As of September 27, 2026, the company’s consolidated leverage ratio was 0.9x.
Teledyne raised its full year 2026 guidance for GAAP diluted earnings per share to a range of $21.71 to $21.87, up from the previous outlook of $20.73 to $20.99. The company also raised its non-GAAP diluted earnings per share outlook to a range of $25.40 to $25.50, up from the prior range of $24.45 to $24.65.
In other corporate developments, Teledyne announced a pending acquisition of Varex Imaging Corporation for approximately $1.1 billion. The transaction is expected to close in early 2027 and will be included within the Digital Imaging segment. Additionally, the company repurchased approximately 0.2 million shares of its common stock in the third quarter for $94.8 million.
