Form 8-K
8-K — TE Connectivity plc
Accession: 0001104659-26-119326
Filed: 2026-10-28
Period: 2026-10-28
CIK: 0001385157
SIC: 5065 (WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC)
Item: Results of Operations and Financial Condition
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — tel-20261028x8k.htm (Primary)
EX-99.1 (tel-ex99d1.htm)
EX-99.2 (tel-ex99d2.htm)
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8-K
8-K (Primary)
Filename: tel-20261028x8k.htm · Sequence: 1
TE CONNECTIVITY PLC_ October 28, 2026
0001385157false0001385157us-gaap:CommonStockMember2026-10-282026-10-280001385157tel:SeniorNotes3.25PercentDue2033Member2026-10-282026-10-280001385157tel:SeniorNotes2.50PercentDue2028Member2026-10-282026-10-280001385157tel:SeniorNotes0.00PercentDue2029Member2026-10-282026-10-2800013851572026-10-282026-10-28
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 28, 2026
TE CONNECTIVITY PLC
(Exact name of registrant as specified in its charter)
Ireland
98-1779916
(Jurisdiction of Incorporation)
(IRS Employer Identification Number)
001-33260
(Commission File Number)
Parkmore Business Park West
Parkmore, Ballybrit
Galway, H91VN2T, Ireland
(Address of Principal Executive Offices, including Zip Code)
+353 91 378 040
(Registrant’s telephone number, including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol
Name of each exchange on which registered
Ordinary Shares, Par Value $0.01
TEL
New York Stock Exchange
2.50% Senior Notes due 2028*
TEL/28
New York Stock Exchange
0.00% Senior Notes due 2029*
TEL/29
New York Stock Exchange
3.25% Senior Notes due 2033*
TEL/33
New York Stock Exchange
*Issued by Tyco Electronics Group S.A., an indirect wholly-owned subsidiary of TE Connectivity plc
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition
On October 28, 2026, TE Connectivity plc (the “Company”) issued a press release reporting the Company’s fourth quarter and full year results for fiscal 2026. A copy of the press release is furnished as Exhibit 99.1 to this report and incorporated by reference in this Item 2.02.
Item 7.01. Regulation FD Disclosure
The Company will hold a conference call and webcast on October 28, 2026 (see information in the press release attached hereto as Exhibit 99.1 under “Conference Call and Webcast”). A copy of the slide materials to be discussed at the conference call and webcast is being furnished pursuant to Regulation FD as Exhibit 99.2 and is incorporated herein by reference, and the slide materials also can be accessed at the “Investors” section of the Company’s website (www.te.com).
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
Exhibit
No.
Description
99.1
Press release issued October 28, 2026
99.2
Presentation - TE Connectivity Q4 2026 Earnings Call (October 28, 2026)
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: October 28, 2026
TE CONNECTIVITY PLC
By:
/s/ Heath A. Mitts
Heath A. Mitts
Executive Vice President and Chief Financial Officer
EX-99.1
EX-99.1
Filename: tel-ex99d1.htm · Sequence: 2
News Release
Exhibit 99.1
NEWS RELEASE
te.com
TE Connectivity delivers 12% sales increase and over 20% EPS growth in fiscal fourth quarter
Delivered strong full-year performance with sales growth of 15% and more than 20% EPS growth
Expects double digit sales growth in fiscal 2027
GALWAY, Ireland – Oct. 28, 2026 – TE Connectivity plc (NYSE: TEL) today reported results for the fiscal fourth quarter and fiscal year ended September 25, 2026.
Fourth Quarter Highlights
●Net sales were a record $5.3 billion, an increase of 12% on a reported basis and 13% organically year over year, driven by strong growth in both the Industrial and Transportation segments.
●Orders of $6.1 billion, an increase of 29% year over year and 6% sequentially.
●GAAP diluted earnings per share (EPS) from continuing operations was $3.10, up 39% year over year. Adjusted EPS was $3.14, an increase of 21% year over year.
●GAAP Operating margin was 21% and adjusted operating margin was 22%, driven by strong operational performance across both segments.
●Cash flow from operating activities was $1.5 billion and free cash flow was $1.2 billion, with approximately $800 million returned to shareholders.
Full Year Highlights
●Company delivered full-year records for sales, orders, operating margin, EPS and cash generation.
●Net sales were $19.9 billion, up 15% on a reported basis and 12% organically, with broad growth across the portfolio due to customer needs for increased data and power connectivity.
●Orders of $22.2 billion, up 27%, supporting expected double-digit sales growth in fiscal 2027.
●GAAP operating margin was 20% and adjusted operating margin was 22%, driven by strong operational performance.
●GAAP EPS was $11.07, an increase of 80%, and adjusted EPS was $11.52, up 24%
●Cash flow from operating activities was $4.5 billion and free cash flow was $3.4 billion.
●Returned approximately $2.8 billion to shareholders and committed $1.6 billion for bolt-on acquisitions in the Industrial segment to broaden the optics and power filtering portfolios.
"Our teams delivered a strong fourth quarter to finish a year in which we set records in sales, earnings and cash generation,” said CEO Terrence Curtin. “Our growth is supported by our strategic positioning of TE around accelerating data and power trends that are driving customer demand for connectivity innovations that are essential to next generation architectures. In our Industrial Solutions segment, which grew 26% in 2026, we continue to benefit from our customers’ AI investments, which create opportunities extending from inside the rack in the data center to the networking edge all the way to the energy grid.
“Entering fiscal 2027, we expect that the strong momentum from 2026 will continue as we are well positioned to keep capitalizing on growth drivers and deliver value for our shareholders. With strong orders across our businesses, we expect first quarter sales to be up mid-teens and to deliver more than 20 percent EPS growth year over year. For the full fiscal year, we expect to deliver organic sales growth that is similar to our strong performance in fiscal 2026.”
First Quarter FY27 Outlook
For the first quarter of fiscal 2027, the company expects sales of approximately $5.35 billion, up 15% on a reported and organic basis year over year. GAAP EPS from continuing operations is expected to be approximately $3.04, an increase of 20% year over year, with adjusted EPS of approximately $3.30, up 21% year over year.
Information about TE Connectivity's use of non-GAAP financial measures is provided below. For reconciliations of these non-GAAP financial measures, see the attached tables.
Conference Call and Webcast
The company will hold a conference call for investors today beginning at 8:30 a.m. ET. The conference call may be accessed in the following ways:
● At TE Connectivity’s website: investors.te.com
● By telephone: For both “listen-only” participants and those participants who wish to take part in the question-and-answer portion of the call, the dial-in number in the United States is (833) 461-5787 and for international callers, the dial-in number is (585) 542-9983; meeting ID: 968971220.
● A replay of the conference call will be available on TE Connectivity’s investor website at investors.te.com at 11:30 a.m. ET on October 28.
About TE Connectivity
TE Connectivity plc (NYSE: TEL) is a global industrial technology leader creating a safer, sustainable, productive, and connected future. As a trusted innovation partner, our broad range of connectivity and sensor solutions enable the distribution of power, signal and data to advance next-generation transportation, energy networks, automated factories, data centers enabling artificial intelligence, and more. Our more than 100,000 employees, including 10,000 engineers, work alongside customers in approximately 130 countries. In a world that is racing ahead, TE ensures that EVERY CONNECTION COUNTS. Learn more at www.te.com and on LinkedIn, Facebook, WeChat and Instagram.
Non-GAAP Financial Measures
We present non-GAAP performance and liquidity measures as we believe it is appropriate for investors to consider adjusted financial measures in addition to results in accordance with accounting principles generally accepted in the U.S. (“GAAP”). These non-GAAP financial measures provide supplemental information and should not be considered replacements for results in accordance with GAAP. Management uses non-GAAP financial measures internally for planning and forecasting purposes and in its decision-making processes related to the operations of our company. We believe these measures provide meaningful information to us and investors because they enhance the understanding of our operating performance, ability to generate cash, and the trends of our business. Additionally, we believe that investors benefit from having access to the same financial measures that management uses in evaluating our operations. The primary limitation of these measures is that they exclude the financial impact of items that would otherwise either increase or decrease our reported results. This limitation is best addressed by using these non-GAAP financial measures in combination with the most directly comparable GAAP financial measures in order to better understand the amounts, character, and impact of any increase or decrease in reported amounts. These non-GAAP financial measures may not be comparable to similarly-titled measures reported by other companies.
The following provides additional information regarding our non-GAAP financial measures:
•Organic Net Sales Growth (Decline) – represents net sales growth (decline) (the most comparable GAAP financial measure) excluding the impact of foreign currency exchange rates and acquisitions and divestitures that occurred in the preceding twelve months, if any. Organic Net Sales Growth (Decline) is a useful measure of our performance because it excludes items that are not completely under management’s control, such as the impact of changes in foreign currency exchange rates, and items that do not reflect the underlying growth of the company, such as acquisition and divestiture activity. This measure is a significant component in our incentive compensation plans.
•Adjusted Operating Income and Adjusted Operating Margin – represent operating income and operating margin, respectively, (the most comparable GAAP financial measures) before special items including restructuring and other charges, acquisition-related charges, amortization expense on intangible assets, impairment of goodwill, and other income or charges, if any. We utilize these adjusted measures in combination with operating income and operating margin to assess segment level operating performance and to provide insight to management in evaluating segment operating plan execution and market conditions. Adjusted Operating Income is a significant component in our incentive compensation plans.
•Adjusted Income Tax (Expense) Benefit and Adjusted Effective Tax Rate – represent income tax (expense) benefit and effective tax rate, respectively, (the most comparable GAAP financial measures) after adjusting for the tax effect of special items including restructuring and other charges, acquisition-related charges, amortization expense on intangible assets, impairment of goodwill, other income or charges, and certain significant tax items, if any.
•Adjusted Income from Continuing Operations – represents income from continuing operations (the most comparable GAAP financial measure) before special items including restructuring and other charges, acquisition-related charges, amortization expense on intangible assets, impairment of goodwill, other income or charges, and certain significant tax items, if any, and, if applicable, the related tax effects.
•Adjusted Earnings Per Share – represents diluted earnings per share from continuing operations (the most comparable GAAP financial measure) before special items including restructuring and other charges, acquisition-related charges, amortization expense on intangible assets, impairment of goodwill, other income or charges, and certain significant tax items, if any, and, if applicable, the related tax effects. This measure is a significant component in our incentive compensation plans.
•Free Cash Flow (FCF) – is a useful measure of our ability to generate cash. The difference between net cash provided by operating activities (the most comparable GAAP financial measure) and Free Cash Flow consists mainly of significant cash outflows and inflows that we believe are useful to identify. We believe Free Cash Flow provides useful information to investors as it provides insight into the primary cash flow metric used by management to monitor and evaluate cash flows generated from our operations. Free Cash Flow is defined as net cash provided by operating activities excluding voluntary pension contributions and the cash impact of special items, if any, minus net capital expenditures. Voluntary pension contributions are excluded from the GAAP financial measure because this activity is driven by economic financing decisions rather than operating activity. Certain special items, including cash paid (collected) pursuant to collateral requirements related to cross-currency swap contracts, are also excluded by management in evaluating Free Cash Flow. Net capital expenditures consist of capital expenditures less proceeds from the sale of property, plant, and equipment.
These items are subtracted because they represent long-term commitments. In the calculation of Free Cash Flow, we subtract certain cash items that are ultimately within management’s and the Board of Directors’ discretion to direct and may imply that there is less or more cash available for our programs than the most comparable GAAP financial measure indicates. It should not be inferred that the entire Free Cash Flow amount is available for future discretionary expenditures, as our definition of Free Cash Flow does not consider certain non-discretionary expenditures, such as debt payments. In addition, we may have other discretionary expenditures, such as discretionary dividends, share repurchases, and business acquisitions, that are not considered in the calculation of Free Cash Flow.
Forward-Looking Statements
This release contains certain “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to risks, uncertainty and changes in circumstances, which may cause actual results, performance, financial condition or achievements to differ materially from anticipated results, performance, financial condition or achievements. All statements contained herein that are not clearly historical in nature are forward-looking and the words “anticipate,” “believe,” “expect,” “estimate,” “plan,” and similar expressions are generally intended to identify forward-looking statements. We have no intention and are under no obligation to update or alter (and expressly disclaim any such intention or obligation to do so) our forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by law. The forward-looking statements in this release include statements addressing our future financial condition and operating results. Examples of factors that could cause actual results to differ materially from those described in the forward-looking statements include, among others, the extent, severity and duration of business interruptions negatively affecting our business operations; business, economic, competitive and regulatory risks, such as conditions affecting demand for products in the automotive and other industries we serve; competition and pricing pressure; fluctuations in foreign currency exchange rates and commodity prices; natural disasters and political, economic and military instability in countries in which we operate, including continuing military conflict in certain parts of the world; developments in the credit markets; future goodwill impairment; compliance with current and future environmental and other laws and regulations; and the possible effects on us of changes in tax laws, tax treaties and other legislation. More detailed information about these and other factors is set forth in TE Connectivity plc’s Annual Report on Form 10-K for the fiscal year ended Sept 26, 2025, as well as in our Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other reports filed by us with the U.S. Securities and Exchange Commission.
Contacts:
Media Relations:
Eric Mangan
TE Connectivity
908-783-6629
Eric.Mangan@te.com
Investor Relations:
Sujal Shah
TE Connectivity
610-893-9790
Sujal.Shah@te.com
TE CONNECTIVITY PLC
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
For the Quarters Ended
For the Years Ended
September 25,
September 26,
September 25,
September 26,
2026
2025
2026
2025
(in millions, except per share data)
Net sales
$
5,312
$
4,749
$
19,885
$
17,262
Cost of sales
3,425
3,089
12,679
11,183
Gross margin
1,887
1,660
7,206
6,079
Selling, general, and administrative expenses
518
494
2,124
1,866
Research, development, and engineering expenses
250
227
942
829
Acquisition and integration costs
12
6
32
47
Restructuring and other charges, net
14
17
117
126
Operating income
1,093
916
3,991
3,211
Interest income
23
21
90
83
Interest expense
(31)
(29)
(124)
(77)
Other expense, net
(9)
(11)
(7)
(13)
Income from continuing operations before income taxes
1,076
897
3,950
3,204
Income tax expense
(175)
(233)
(695)
(1,361)
Income from continuing operations
901
664
3,255
1,843
Loss from discontinued operations, net of income taxes
(1)
(1)
(2)
(1)
Net income
$
900
$
663
$
3,253
$
1,842
Basic earnings per share:
Income from continuing operations
$
3.12
$
2.25
$
11.15
$
6.21
Loss from discontinued operations
—
—
(0.01)
—
Net income
3.11
2.25
11.14
6.20
Diluted earnings per share:
Income from continuing operations
$
3.10
$
2.23
$
11.07
$
6.16
Loss from discontinued operations
—
—
(0.01)
—
Net income
3.09
2.22
11.06
6.16
Weighted-average number of shares outstanding:
Basic
289
295
292
297
Diluted
291
298
294
299
TE CONNECTIVITY PLC
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
September 25,
September 26,
2026
2025
(in millions, except share data)
Assets
Current assets:
Cash and cash equivalents
$
1,697
$
1,255
Accounts receivable, net of allowance for doubtful accounts of $55 and $44, respectively
3,839
3,403
Inventories
2,962
2,699
Prepaid expenses and other current assets
785
609
Total current assets
9,283
7,966
Property, plant, and equipment, net
4,637
4,312
Goodwill
7,420
7,126
Intangible assets, net
2,031
2,227
Deferred income taxes
2,128
2,507
Other assets
1,173
943
Total assets
$
26,672
$
25,081
Liabilities, redeemable noncontrolling interests, and shareholders' equity
Current liabilities:
Short-term debt
$
502
$
852
Accounts payable
2,455
2,021
Accrued and other current liabilities
2,407
2,247
Total current liabilities
5,364
5,120
Long-term debt
5,137
4,842
Long-term pension and postretirement liabilities
625
767
Deferred income taxes
246
198
Income taxes
346
414
Other liabilities
1,231
1,010
Total liabilities
12,949
12,351
Commitments and contingencies
Redeemable noncontrolling interests
150
145
Shareholders' equity:
Preferred shares, $1.00 par value, 2 shares authorized, none outstanding
—
—
Ordinary class A shares, €1.00 par value, 25,000 shares authorized, none outstanding
—
—
Ordinary shares, $0.01 par value, 1,500,000,000 shares authorized, 296,288,773 and 302,889,075 shares issued, respectively
3
3
Accumulated earnings
15,244
13,932
Ordinary shares held in treasury, at cost, 8,788,224 and 8,330,931 shares, respectively
(1,892)
(1,356)
Accumulated other comprehensive income
218
6
Total shareholders' equity
13,573
12,585
Total liabilities, redeemable noncontrolling interests, and shareholders' equity
$
26,672
$
25,081
TE CONNECTIVITY PLC
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
For the Quarters Ended
For the Years Ended
September 25,
September 26,
September 25,
September 26,
2026
2025
2026
2025
(in millions)
Cash flows from operating activities:
Net income
$
900
$
663
$
3,253
$
1,842
Loss from discontinued operations, net of income taxes
1
1
2
1
Income from continuing operations
901
664
3,255
1,843
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:
Depreciation and amortization
275
244
1,033
838
Deferred income taxes
60
166
321
938
Non-cash lease cost
41
39
159
145
Provision for losses on accounts receivable and inventories
10
(4)
71
58
Share-based compensation expense
38
44
168
149
Other
14
20
(37)
80
Changes in assets and liabilities, net of the effects of acquisitions and divestitures:
Accounts receivable, net
(227)
50
(582)
(341)
Inventories
49
139
(316)
(160)
Prepaid expenses and other current assets
54
60
92
91
Accounts payable
162
(8)
595
290
Accrued and other current liabilities
132
41
(108)
(35)
Income taxes
14
(25)
(80)
147
Other
5
(9)
(46)
96
Net cash provided by operating activities
1,528
1,421
4,525
4,139
Cash flows from investing activities:
Capital expenditures
(290)
(271)
(1,122)
(936)
Proceeds from sale of property, plant, and equipment
3
4
9
11
Acquisition of businesses, net of cash acquired
(12)
—
(212)
(2,628)
Other
(3)
(3)
(9)
(15)
Net cash used in investing activities
(302)
(270)
(1,334)
(3,568)
Cash flows from financing activities:
Net increase (decrease) in commercial paper
—
—
100
(255)
Proceeds from issuance of debt
—
—
750
2,231
Repayment of debt
(1)
—
(852)
(580)
Proceeds from exercise of share options
3
81
82
182
Repurchase of ordinary shares
(544)
(437)
(1,892)
(1,347)
Payment of ordinary share dividends to shareholders
(226)
(209)
(869)
(803)
Other
(1)
(1)
(68)
(57)
Net cash used in financing activities
(769)
(566)
(2,749)
(629)
Effect of currency translation on cash
1
(2)
—
(6)
Net increase (decrease) in cash, cash equivalents, and restricted cash
458
583
442
(64)
Cash, cash equivalents, and restricted cash at beginning of period
1,239
672
1,255
1,319
Cash, cash equivalents, and restricted cash at end of period
$
1,697
$
1,255
$
1,697
$
1,255
Supplemental cash flow information:
Interest paid on debt, net
$
28
$
21
$
110
$
34
Income taxes paid, net of refunds
101
92
454
276
TE CONNECTIVITY PLC
RECONCILIATION OF FREE CASH FLOW (UNAUDITED)
For the Quarters Ended
For the Years Ended
September 25,
September 26,
September 25,
September 26,
2026
2025
2026
2025
(in millions)
Net cash provided by operating activities
$
1,528
$
1,421
$
4,525
$
4,139
Capital expenditures, net
(287)
(267)
(1,113)
(925)
Free cash flow (1)
$
1,241
$
1,154
$
3,412
$
3,214
(1) Free cash flow is a non-GAAP financial measure. See description of non-GAAP financial measures.
TE CONNECTIVITY PLC
SEGMENT DATA (UNAUDITED)
For the Quarters Ended
For the Years Ended
September 25,
September 26,
September 25,
September 26,
2026
2025
2026
2025
($ in millions)
Net Sales
Net Sales
Net Sales
Net Sales
Transportation Solutions
$
2,600
$
2,413
$
10,069
$
9,388
Industrial Solutions
2,799
2,336
9,903
7,874
Reconciling item (1)
(87)
—
(87)
—
Total
$
5,312
$
4,749
$
19,885
$
17,262
Operating
Operating
Operating
Operating
Operating
Operating
Operating
Operating
Income
Margin
Income
Margin
Income
Margin
Income
Margin
Transportation Solutions
$
521
20.0
%
$
465
19.3
%
$
1,969
19.6
%
$
1,818
19.4
%
Industrial Solutions
568
20.3
451
19.3
2,018
20.4
1,393
17.7
Reconciling item (2)
4
—
4
—
Total
$
1,093
20.6
%
$
916
19.3
%
$
3,991
20.1
%
$
3,211
18.6
%
Adjusted
Adjusted
Adjusted
Adjusted
Adjusted
Adjusted
Adjusted
Adjusted
Operating
Operating
Operating
Operating
Operating
Operating
Operating
Operating
Income (3)
Margin (3)
Income (3)
Margin (3)
Income (3)
Margin (3)
Income (3)
Margin (3)
Transportation Solutions
$
545
21.0
%
$
487
20.2
%
$
2,131
21.2
%
$
1,963
20.9
%
Industrial Solutions
627
22.4
514
22.0
2,235
22.6
1,621
20.6
Reconciling item (2)
4
—
4
—
Total
$
1,176
22.1
%
$
1,001
21.1
%
$
4,370
22.0
%
$
3,584
20.8
%
(1) Reconciling item relates to IEEPA tariff refunds received in fiscal 2026 that are expected to be returned to customers.
(2) Reconciling item relates to the net impact of IEEPA tariff refunds received in fiscal 2026.
(3) Adjusted operating income and adjusted operating margin are non-GAAP financial measures. See description of non-GAAP financial measures.
TE CONNECTIVITY PLC
RECONCILIATION OF NET SALES GROWTH (DECLINE) (UNAUDITED)
Change in Net Sales for the Quarter Ended September 25, 2026
versus Net Sales for the Quarter Ended September 26, 2025
Net Sales
Organic Net Sales
Translation
Growth (Decline)
Growth (Decline) (1)
and Other (2)
Acquisitions
($ in millions)
Transportation Solutions:
Automotive
$
127
7.0
%
$
107
5.9
%
$
20
$
—
Commercial transportation
65
17.9
64
17.8
1
—
Sensors
(5)
(2.0)
(4)
(1.7)
(1)
—
Total Transportation Solutions
187
7.7
167
6.9
20
—
Industrial Solutions:
Digital data networks
242
34.2
246
34.4
(4)
—
Automation and connected living
103
17.6
101
17.6
2
—
Energy
55
11.8
54
11.7
1
—
Aerospace, defense, and marine
61
15.2
63
16.0
(2)
—
Medical
2
1.1
3
1.3
(1)
—
Total Industrial Solutions
463
19.8
467
20.0
(4)
—
Reconciling item (3)
(87)
—
(87)
—
Total
$
563
11.9
%
$
634
13.4
%
$
(71)
$
—
Change in Net Sales for the Year Ended September 25, 2026
versus Net Sales for the Year Ended September 26, 2025
Net Sales
Organic Net Sales
Translation
Growth (Decline)
Growth (Decline) (1)
and Other (2)
Acquisitions
($ in millions)
Transportation Solutions:
Automotive
$
417
5.9
%
$
212
3.0
%
$
205
$
—
Commercial transportation
264
19.3
233
17.1
31
—
Sensors
—
—
(22)
(2.4)
22
—
Total Transportation Solutions
681
7.3
423
4.5
258
—
Industrial Solutions:
Digital data networks
975
44.2
961
43.5
14
—
Automation and connected living
333
15.5
281
13.1
51
1
Energy
543
40.4
243
18.1
29
271
Aerospace, defense, and marine
187
12.6
163
11.0
24
—
Medical
(9)
(1.3)
(9)
(1.3)
—
—
Total Industrial Solutions
2,029
25.8
1,639
20.8
118
272
Reconciling item (3)
(87)
—
(87)
—
Total
$
2,623
15.2
%
$
2,062
11.9
%
$
289
$
272
(1) Organic net sales growth (decline) is a non-GAAP financial measure. See description of non-GAAP financial measures.
(2) Represents the change in net sales resulting from changes in foreign currency exchange rates and IEEPA tariff refunds.
(3) Reconciling item relates to IEEPA tariff refunds received in fiscal 2026 that are expected to be returned to customers.
TE CONNECTIVITY PLC
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended September 25, 2026
(UNAUDITED)
Adjustments
Acquisition-
Restructuring
Related
and Other
Amortization
Adjusted
U.S. GAAP
Charges (1)
Charges, Net (1)
Expense (1)
Tax Items (2)
(Non-GAAP) (3)
($ in millions, except per share data)
Operating income:
Transportation Solutions
$
521
$
1
$
5
$
18
$
—
$
545
Industrial Solutions
568
11
9
39
—
627
Reconciling item (4)
4
—
—
—
—
4
Total
$
1,093
$
12
$
14
$
57
$
—
$
1,176
Operating margin
20.6
%
22.1
%
Income tax expense
$
(175)
$
(2)
$
2
$
(11)
$
(59)
$
(245)
Effective tax rate
16.3
%
21.1
%
Income from continuing operations
$
901
$
10
$
16
$
46
$
(59)
$
914
Diluted earnings per share from continuing operations
$
3.10
$
0.03
$
0.05
$
0.16
$
(0.20)
$
3.14
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction.
(2) Represents a $59 million income tax benefit related to a decrease in the valuation allowance for certain tax loss and credit carryforwards.
(3) See description of non-GAAP financial measures.
(4) Reconciling item relates to the net impact of IEEPA tariff refunds received in fiscal 2026.
TE CONNECTIVITY PLC
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended September 26, 2025
(UNAUDITED)
Adjustments
Acquisition-
Restructuring
Related
and Other
Amortization
Adjusted
U.S. GAAP
Charges (1)
Charges, Net (1)
Expense (1)
Tax Items (2)
(Non-GAAP) (3)
($ in millions, except per share data)
Operating income:
Transportation Solutions
$
465
$
—
$
3
$
19
$
—
$
487
Industrial Solutions
451
10
14
39
—
514
Total
$
916
$
10
$
17
$
58
$
—
$
1,001
Operating margin
19.3
%
21.1
%
Income tax expense
$
(233)
$
(2)
$
6
$
(11)
$
31
$
(209)
Effective tax rate
26.0
%
21.3
%
Income from continuing operations
$
664
$
8
$
23
$
47
$
31
$
773
Diluted earnings per share from continuing operations
$
2.23
$
0.03
$
0.08
$
0.16
$
0.10
$
2.59
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction.
(2) Represents income tax expense of $44 million related to an increase in the valuation allowance for certain U.S. tax loss and credit carryforwards and an income tax benefit of $13 million related to the revaluation of deferred tax liabilities as a result of a decrease in the corporate tax rate in a non-U.S. jurisdiction.
(3) See description of non-GAAP financial measures.
TE CONNECTIVITY PLC
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Year Ended September 25, 2026
(UNAUDITED)
Adjustments
Acquisition-
Restructuring
Related
and Other
Amortization
Adjusted
U.S. GAAP
Charges (1)
Charges, Net (1)
Expense (1)
Tax Items (2)
(Non-GAAP) (3)
($ in millions, except per share data)
Operating income:
Transportation Solutions
$
1,969
$
2
$
89
$
71
$
—
$
2,131
Industrial Solutions
2,018
33
28
156
—
2,235
Reconciling item (4)
4
—
—
—
—
4
Total
$
3,991
$
35
$
117
$
227
$
—
$
4,370
Operating margin
20.1
%
22.0
%
Income tax expense
$
(695)
$
(7)
$
(21)
$
(45)
$
(173)
$
(941)
Effective tax rate
17.6
%
21.7
%
Income from continuing operations
$
3,255
$
28
$
96
$
182
$
(173)
$
3,388
Diluted earnings per share from continuing operations
$
11.07
$
0.10
$
0.33
$
0.62
$
(0.59)
$
11.52
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction.
(2) Represents a $114 million net income tax benefit related primarily to the settlement of prior period tax matters and a $59 million income tax benefit related to a decrease in the valuation allowance for certain tax loss and credit carryforwards.
(3) See description of non-GAAP financial measures.
(4) Reconciling item relates to the net impact of IEEPA tariff refunds received in fiscal 2026.
TE CONNECTIVITY PLC
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Year Ended September 26, 2025
(UNAUDITED)
Adjustments
Acquisition-
Restructuring
Related
and Other
Amortization
Adjusted
U.S. GAAP
Charges (1)
Charges, Net (1)
Expense (1)
Tax Items (2)
(Non-GAAP) (3)
($ in millions, except per share data)
Operating income:
Transportation Solutions
$
1,818
$
—
$
75
$
70
$
—
$
1,963
Industrial Solutions
1,393
57
51
120
—
1,621
Total
$
3,211
$
57
$
126
$
190
$
—
$
3,584
Operating margin
18.6
%
20.8
%
Income tax expense
$
(1,361)
$
(12)
$
(13)
$
(37)
$
618
$
(805)
Effective tax rate
42.5
%
22.5
%
Income from continuing operations
$
1,843
$
45
$
113
$
153
$
618
$
2,772
Diluted earnings per share from continuing operations
$
6.16
$
0.15
$
0.38
$
0.51
$
2.07
$
9.27
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction.
(2) Represents income tax expense of $574 million related to a net increase in the valuation allowance for certain deferred tax assets associated with a ten-year tax credit obtained by a Swiss subsidiary in fiscal 2024 as well as income tax expense of $44 million related to an increase in the valuation allowance for certain U.S. tax loss and credit carryforwards.
(3) See description of non-GAAP financial measures.
TE CONNECTIVITY PLC
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES
For the Quarter Ended December 26, 2025
(UNAUDITED)
Adjustments
Acquisition-
Restructuring
Related
and Other
Amortization
Adjusted
U.S. GAAP
Charges (1)
Charges, Net (1)
Expense (1)
(Non-GAAP) (2)
($ in millions, except per share data)
Operating income:
Transportation Solutions
$
501
$
—
$
4
$
18
$
523
Industrial Solutions
462
6
6
39
513
Total
$
963
$
6
$
10
$
57
$
1,036
Operating margin
20.6
%
22.2
%
Income tax expense
$
(210)
$
(1)
$
(3)
$
(11)
$
(225)
Effective tax rate
21.9
%
21.8
%
Income from continuing operations
$
751
$
5
$
7
$
46
$
809
Diluted earnings per share from continuing operations
$
2.53
$
0.02
$
0.02
$
0.15
$
2.72
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction.
(2) See description of non-GAAP financial measures.
TE CONNECTIVITY PLC
RECONCILIATION OF FORWARD-LOOKING NON-GAAP FINANCIAL MEASURES
TO FORWARD-LOOKING GAAP FINANCIAL MEASURES
As of October 28, 2026
(UNAUDITED)
Outlook for
Quarter Ending
December 25,
2026
Diluted earnings per share from continuing operations
$
3.04
Acquisition-related charges
0.06
Restructuring and other charges, net
0.05
Amortization expense
0.15
Adjusted diluted earnings per share from continuing operations (1)
$
3.30
Net sales growth
14.6
%
Translation and other (2)
0.7
(Acquisitions) divestitures, net
—
Organic net sales growth (1)
15.3
%
(1) See description of non-GAAP financial measures.
(2) Includes IEEPA tariff refunds expected to be received in fiscal 2027 and returned to customers.
EX-99.2
EX-99.2
Filename: tel-ex99d2.htm · Sequence: 3
Exhibit 99.2
EVERY CONNECTION COUNTS
TE Connectivity
Fourth Quarter
2026 Earnings
October 28, 2026
Forward-Looking Statements
and Non-GAAP Financial Measures
2
Forward-Looking Statements
This presentation contains certain "forward-looking statements" within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995. These
statements are based on management's current expectations and are subject to
risks, uncertainty and changes in circumstances, which may cause actual
results, performance, financial condition or achievements to differ materially
from anticipated results, performance, financial condition or achievements. All
statements contained herein that are not clearly historical in nature are forward-looking and the words "anticipate," "believe," "expect," "estimate," "plan," and
similar expressions are generally intended to identify forward-looking
statements. We have no intention and are under no obligation to update or alter
(and expressly disclaim any such intention or obligation to do so) our forward-looking statements whether as a result of new information, future events or
otherwise, except to the extent required by law. The forward-looking statements
in this presentation include statements addressing our future financial condition
and operating results. Examples of factors that could cause actual results to
differ materially from those described in the forward-looking statements include,
among others, the extent, severity and duration of business interruptions
negatively affecting our business operations; business, economic, competitive
and regulatory risks, such as conditions affecting demand for products in the
automotive and other industries we serve; competition and pricing pressure;
fluctuations in foreign currency exchange rates and commodity prices; natural
disasters and political, economic and military instability in countries in which we
operate, including continuing military conflict in certain parts of the world;
developments in the credit markets; future goodwill impairment; compliance with
current and future environmental and other laws and regulations; and the
possible effects on us of changes in tax laws, tax treaties and other legislation.
More detailed information about these and other factors is set forth in TE
Connectivity plc's Annual Report on Form 10-K for the fiscal year ended Sept.
26, 2025, as well as in our Quarterly Reports on Form 10-Q, Current Reports on
Form 8-K and other reports filed by us with the U.S. Securities and Exchange
Commission.
Non-GAAP Financial Measures
Where we have used non-GAAP financial measures, reconciliations to the most
comparable GAAP measure are provided, along with a disclosure on the
usefulness of the non-GAAP financial measure, in this presentation.
Q4 Results - Delivered an Increase of 12% in Sales and 21% in Adjusted EPS
▪ Sales of $5.3B, increased 12% reported and 13% on an organic basis Y/Y
▪ Orders of $6.1B, increased 29% Y/Y and 6% sequentially; book to bill of 1.14
▪ Adjusted Operating Margins of 22%, expanded 100bps Y/Y; Adjusted EPS of $3.14, increased 21% Y/Y
▪ Free Cash Flow generation of ~$1.2B with ~$800M returned to shareholders
Earnings Highlights
3
Organic Net Sales Growth (Decline), Adjusted Operating Margin, Adjusted EPS, Free Cash Flow, and Free Cash Flow Conversion are non-GAAP financial measures; see Appendix for descriptions and reconciliations
Q1 FY27 Guidance
▪ Expect Sales of ~$5.35B, increasing 15% on a reported and organic basis Y/Y
▪ Expect Adjusted EPS of ~$3.30, increasing 21% Y/Y
▪ Strong orders and backlog expected to result in FY27 Y/Y organic sales growth consistent with FY26
FY26 - Achieved Full Year Records for Sales, Adjusted Operating Margins & EPS, and Free Cash Flow
▪ Sales of $19.9B, increased 15% reported and 12% on an organic basis Y/Y with broad growth across the portfolio
▪ Record orders of $22.2B supporting another year of strong double-digit growth in FY27
▪ Adjusted EPS increased 24% Y/Y to $11.52; Adjusted Operating Margins of 22% expanded 120bps Y/Y
▪ Free Cash Flow of ~$3.4B with 100% conversion; ~$2.8B returned to shareholders and committed ~$1.6B for bolt-on acquisitions
Reported FY25
Q4
FY26
Q3
FY26
Q4
Q4 Growth
Y/Y Q/Q
Industrial 2,254 2,933 3,322 47% 13%
Transportation 2,428 2,760 2,733 13% (1)%
Total TE 4,682 5,693 6,055 29% 6%
Book to Bill 0.99 1.10 1.14
Segment Orders Summary
($ in millions)
4
▪ Industrial segment orders in Q4 reflect
double-digit growth across all businesses;
DDN orders in FY26 increased ~70%
▪ Transportation segment orders reflect
continued content outperformance in Auto
and ICT, with end markets improving in
commercial transportation
Full year orders of $22.2B increased
27% Y/Y; record backlog entering FY27
Industrial Solutions
Q4 SALES
Reported
Up 20%
Organic
Up 20%
Q4 ADJUSTED OPERATING MARGIN
Margin expansion of
40bps while increasing
growth investments
Adjusted EBITDA Margin 25.2% 26.2%
5
Q4 BUSINESS PERFORMANCE
Y/Y Growth
Rates Reported Organic
Digital Data
Networks (DDN) $949 34% 34%
Automation
& Connected
Living (ACL)
688 18% 18%
Energy 520 12% 12%
Aerospace,
Defense and
Marine (AD&M)
462 15% 16%
Medical 180 1% 1%
Industrial
Solutions $2,799 20% 20%
$ in Millions
▪ Digital Data Networks
Growth driven by continued
momentum in AI applications; full year
AI sales as expected
▪ Automation & Connected Living
Strong growth across all regions
driven by automation applications
▪ Energy
Grid hardening and data center build-out continues to drive strong growth
▪ AD&M
Performance reflects ongoing
strength in commercial air and
defense markets
▪ Medical
Sales as expected
$2,336 $2,799
Q4 2025 Q4 2026
22.0% 22.4%
Q4 2025 Q4 2026
Ongoing momentum with broad growth
across the segment and strong operational
performance
Organic Net Sales Growth (Decline), Adjusted Operating Margin, and Adjusted EBITDA Margin are non-GAAP financial measures; see Appendix for descriptions and reconciliations.
Transportation Solutions
Q4 SALES
Reported
Up 8%
Organic
Up 7%
Q4 ADJUSTED OPERATING MARGIN
Strong margin expansion
of 80bps reflects
continued execution by
our teams
Adjusted EBITDA Margin 24.8% 25.3%
6
$2,413 $2,600
Q4 2025 Q4 2026
Q4 BUSINESS PERFORMANCE
Y/Y Growth Rates Reported Organic
Automotive $1,933 7% 6%
Commercial
Transportation 428 18% 18%
Sensors 239 (2)% (2)%
Transportation
Solutions $2,600 8% 7%
$ in Millions
20.2% 21.0%
Q4 2025 Q4 2026
▪ Automotive
Strong growth over market driven
by content outperformance in Asia
and Europe
▪ Commercial Transportation
Strong content growth across all
regions along with the benefit of
markets improving
▪ Sensors
Sales as expected
Organic Net Sales Growth (Decline), Adjusted Operating Margin, and Adjusted EBITDA Margin are non-GAAP financial measures; see Appendix for descriptions and reconciliations.
Continue to deliver content
outperformance versus end markets
with strong operational resiliency
Q4 Financial Summary
7
($ in Millions, except per share amounts) Q4 FY25 Q4 FY26
Net Sales $ 4,749 $ 5,312
Operating Income $ 916 $ 1,093
Operating Margin 19.3% 20.6%
Acquisition-Related Charges 10 12
Restructuring & Other Charges, Net 17 14
Amortization Expense 58 57
Adjusted Operating Income $ 1,001 $ 1,176
Adjusted Operating Margin 21.1% 22.1%
Earnings Per Share* $ 2.23 $ 3.10
Acquisition-Related Charges 0.03 0.03
Restructuring & Other Charges, Net 0.08 0.05
Amortization Expense 0.16 0.16
Tax Items 0.10 (0.20)
Adjusted EPS $ 2.59 $ 3.14
Adjusted Effective Tax Rate 21.3% 21.1%
Adjusted Operating Income, Adjusted Operating Margin, Adjusted Earnings Per Share, and Adjusted Effective Tax Rate are non-GAAP financial measures; see Appendix for descriptions and reconciliations.
*Represents Diluted Earnings Per Share from Continuing Operations
Fiscal 2026 Financial Performance
8
20.8% 22.0%
FY25 FY26
SALES ADJUSTED OPERATING MARGIN
ADJUSTED EPS FREE CASH FLOW
Record Full Year Sales, Operating Margin, EPS, and Free Cash Flow
$ in Billions
$ in Billions
100% free
cash flow
conversion
$3.2 $3.4
FY25 FY26
Up 24% Y/Y
$17.3 $19.9
FY25 FY26
120bps of
margin
expansion
Organic Net Sales Growth, Adjusted Operating Margin, Adjusted Earnings Per Share, and Free Cash Flow are non-GAAP financial measures; see Appendix for descriptions and reconciliations.
Reported sales
up 15% Y/Y
$9.27 $11.52
FY25 FY26
Organic sales
up 12% Y/Y
EVERY CONNECTION COUNTS
Additional Information
Y/Y Q4 2026
10
Sales
(in millions)
Adjusted EPS
Q4 2025 Results $4,749 $2.59
Operational Performance 547 0.54
FX Impact 16 -
Tax Rate Impact - 0.01
Q4 2026 Results1
$5,312 $3.14
Adjusted Earnings Per Share is a non-GAAP financial measure; see Appendix for description and reconciliation.
1Q4 includes IEEPA tariff refunds expected to be returned to customers impacting sales by ($87M) and EPS by $0.01
Y/Y FY 2026
11
Sales
(in millions)
Adjusted EPS
2025 Results $17,262 $9.27
Operational Performance 2,247 2.04
FX Impact 376 0.10
Tax Rate Impact - 0.11
2026 Results1
$19,885 $11.52
Adjusted Earnings Per Share is a non-GAAP financial measure; see Appendix for description and reconciliation.
1FY26 includes IEEPA tariff refunds expected to be returned to customers impacting sales by ($87M) and EPS by $0.01
Y/Y Q1 2027
12
Sales
(in millions)
Adjusted EPS
Q1 2026 Results $4,669 $2.72
Operational Performance 664 0.49
FX Impact 17 0.06
Tax Rate Impact - 0.03
Q1 2027 Guidance1
$5,350 $3.30
Adjusted Earnings Per Share is a non-GAAP financial measure; see Appendix for description and reconciliation.
1Q1 includes IEEPA tariff refunds expected to be returned to customers impacting sales by approximately ($50M)
and no impact to EPS
Balance Sheet and Cash Flow Summary
13
($ in Millions) FY25 FY26
Beginning Cash Balance $1,319 $1,255
Free Cash Flow 3,214 3,412
Dividends (803) (869)
Share repurchases (1,347) (1,892)
Net increase (decrease) in debt 1,396 (2)
Acquisition of businesses, net of cash
acquired (2,628) (212)
Other 104 5
Ending Cash Balance $1,255 $1,697
Total Debt $5,694 $5,639
A/R $3,403 $3,839
Days Sales Outstanding* 65 65
Inventory $2,699 $2,962
Days on Hand* 78 77
Accounts Payable $2,021 $2,455
Days Outstanding* 59 65
Free Cash Flow and Working Capital Liquidity, Cash and Debt
($ in Millions) FY25 FY26
Cash from Operating Activities $4,139 $4,525
Capital expenditures, net (925) (1,113)
Free Cash Flow $3,214 $3,412
Free Cash Flow is a non-GAAP financial measure, see Appendix for description and reconciliation
* Calculated on a quarterly basis and adjusted to exclude the impact of acquisitions and divestitures
EVERY CONNECTION COUNTS
Appendix
We present non-GAAP performance and liquidity measures as
we believe it is appropriate for investors to consider adjusted
financial measures in addition to results in accordance with
accounting principles generally accepted in the U.S. (“GAAP”).
These non-GAAP financial measures provide supplemental
information and should not be considered replacements for
results in accordance with GAAP. Management uses non-GAAP
financial measures internally for planning and forecasting
purposes and in its decision-making processes related to the
operations of our company. We believe these measures provide
meaningful information to us and investors because they
enhance the understanding of our operating performance, ability
to generate cash, and the trends of our business. Additionally,
we believe that investors benefit from having access to the same
financial measures that management uses in evaluating our
operations. The primary limitation of these measures is that they
exclude the financial impact of items that would otherwise either
increase or decrease our reported results. This limitation is best
addressed by using these non-GAAP financial measures in
combination with the most directly comparable GAAP financial
measures in order to better understand the amounts, character,
and impact of any increase or decrease in reported amounts.
These non-GAAP financial measures may not be comparable to
similarly-titled measures reported by other companies.
The following provides additional information regarding our non-GAAP financial measures:
▪ Organic Net Sales Growth (Decline) – represents net sales
growth (decline) (the most comparable GAAP financial
measure) excluding the impact of foreign currency exchange
rates and acquisitions and divestitures that occurred in the
preceding twelve months, if any. Organic Net Sales Growth
(Decline) is a useful measure of our performance because it
excludes items that are not completely under management’s
control, such as the impact of changes in foreign currency
exchange rates, and items that do not reflect the underlying
growth of the company, such as acquisition and divestiture
activity. This measure is a significant component in our
incentive compensation plans.
▪ Adjusted Operating Income and Adjusted Operating
Margin – represent operating income and operating margin,
respectively, (the most comparable GAAP financial
measures) before special items including restructuring and
other charges, acquisition-related charges, amortization
expense on intangible assets, impairment of goodwill, and
other income or charges, if any. We utilize these adjusted
measures in combination with operating income and
operating margin to assess segment level operating
performance and to provide insight to management in
evaluating segment operating plan execution and market
conditions. Adjusted Operating Income is a significant
component in our incentive compensation plans.
▪ Adjusted Income Tax (Expense) Benefit and Adjusted
Effective Tax Rate – represent income tax (expense) benefit
and effective tax rate, respectively, (the most comparable
GAAP financial measures) after adjusting for the tax effect of
special items including restructuring and other charges,
acquisition-related charges, amortization expense on
intangible assets, impairment of goodwill, other income or
charges, and certain significant tax items, if any.
▪ Adjusted Income from Continuing Operations –
represents income from continuing operations (the most
comparable GAAP financial measure) before special items
including restructuring and other charges, acquisition-related
charges, amortization expense on intangible assets,
impairment of goodwill, other income or charges, and certain
significant tax items, if any, and, if applicable, the related tax
effects.
Non-GAAP Financial Measures
15
▪ Adjusted Earnings Per Share – represents diluted earnings
per share from continuing operations (the most comparable
GAAP financial measure) before special items including
restructuring and other charges, acquisition-related charges,
amortization expense on intangible assets, impairment of
goodwill, other income or charges, and certain significant tax
items, if any, and, if applicable, the related tax effects. This
measure is a significant component in our incentive
compensation plans.
▪ Adjusted EBITDA and Adjusted EBITDA Margin –
represent net income and net income as a percentage of net
sales, respectively, (the most comparable GAAP financial
measures) before interest expense, interest income, income
taxes, depreciation, and amortization, as adjusted for net
other income (expense), income (loss) from discontinued
operations, and special items including restructuring and
other charges, acquisition-related charges, impairment of
goodwill, and other income or charges, if any.
▪ Free Cash Flow (FCF) – is a useful measure of our ability to
generate cash. The difference between net cash provided by
operating activities (the most comparable GAAP financial
measure) and Free Cash Flow consists mainly of significant
cash outflows and inflows that we believe are useful to
identify. We believe Free Cash Flow provides useful
information to investors as it provides insight into the primary
cash flow metric used by management to monitor and
evaluate cash flows generated from our operations. Free
Cash Flow is defined as net cash provided by operating
activities excluding voluntary pension contributions and the
cash impact of special items, if any, minus net capital
expenditures. Voluntary pension contributions are excluded
from the GAAP financial measure because this activity is
driven by economic financing decisions rather than operating
activity. Certain special items, including cash paid (collected)
pursuant to collateral requirements related to cross-currency
swap contracts, are also excluded by management in
evaluating Free Cash Flow. Net capital expenditures consist
of capital expenditures less proceeds from the sale of
property, plant, and equipment. These items are subtracted
because they represent long-term commitments. In the
calculation of Free Cash Flow, we subtract certain cash items
that are ultimately within management’s and the Board of
Directors’ discretion to direct and may imply that there is less
or more cash available for our programs than the most
comparable GAAP financial measure indicates. It should not
be inferred that the entire Free Cash Flow amount is available
for future discretionary expenditures, as our definition of Free
Cash Flow does not consider certain non-discretionary
expenditures, such as debt payments. In addition, we may
have other discretionary expenditures, such as discretionary
dividends, share repurchases, and business acquisitions, that
are not considered in the calculation of Free Cash Flow.
▪ Free Cash Flow Conversion – represents Free Cash Flow
as a percentage of Adjusted Income from Continuing
Operations. We use Free Cash Flow Conversion as an
indicator of our ability to convert earnings to cash.
Non-GAAP Financial Measures (cont.)
16
Segment Summary
17
Transportation Solutions $ 2,600 $ 2,413 $ 10,069 $ 9,388
Industrial Solutions 2,799 2,336 9,903 7,874
Reconciling item (1)
(87) — (87) —
Total $ 5,312 $ 4,749 $ 19,885 $ 17,262
O perating O perating O perating O perating
Margin Margin Margin Margin
Transportation Solutions $ 521 20.0 % $ 465 19.3 % $ 1,969 19.6 % $ 1,818 19.4 %
Industrial Solutions 568 20.3 451 19.3 2,018 20.4 1,393 17.7
Reconciling item (2)
4 — 4 —
Total $ 1,093 20.6 % $ 916 19.3 % $ 3,991 20.1 % $ 3,211 18.6 %
Adjusted Adjusted Adjusted Adjusted
O perating O perating O perating O perating
Margin (3) Margin (3) Margin (3) Margin (3)
Transportation Solutions $ 545 21.0 % $ 487 20.2 % $ 2,131 21.2 % $ 1,963 20.9 %
Industrial Solutions 627 22.4 514 22.0 2,235 22.6 1,621 20.6
Reconciling item (2)
4 — 4 —
Total $ 1,176 22.1 % $ 1,001 21.1 % $ 4,370 22.0 % $ 3,584 20.8 %
Net Sales
For the Q uarters Ended
September 25, September 26, September 25, September 26,
For the Years Ended
O perating O perating
Income
2025
O perating
Income
O perating
Income
2026
(3) Adjusted operating income and adjusted operating margin are non-GAAP financial measures. See description of non-GAAP financial measures.
2026 2025
($ in millions)
Adjusted
O perating
Income (3)
Adjusted
O perating
Adjusted
O perating
Income (3)
Net Sales Net Sales Net Sales
Income (3)
(2) Reconciling item relates to the net impact of IEEPA tariff refunds received in fiscal 2026.
(1) Reconciling item relates to IEEPA tariff refunds received in fiscal 2026 that are expected to be returned to customers.
Adjusted
O perating
Income (3)
Income
Reconciliation of Net Sales Growth
18
Transportation Solutions:
Automotive $ 127 7.0 % $ 107 5.9 % $ 20 $ —
Commercial transportation 65 17.9 64 17.8 1 —
Sensors (5) (2.0) (4) (1.7) (1) —
Total Transportation Solutions 187 7.7 167 6.9 20 —
Industrial Solutions:
Digital data networks 242 34.2 246 34.4 (4) —
Automation and connected living 103 17.6 101 17.6 2 —
Energy 55 11.8 54 11.7 1 —
Aerospace, defense, and marine 61 15.2 63 16.0 (2) —
Medical 2 1.1 3 1.3 (1) —
Total Industrial Solutions 463 19.8 467 20.0 (4) —
Reconciling item (3)
(87) — (87) —
Total $ 563 11.9 % $ 634 13.4 % $ (71) $ —
Net Sales
Growth (Decline)
O rganic Net Sales
Growth (Decline) (1)
Change in Net Sales for the Q uarter Ended September 25, 2026
versus Net Sales for the Q uarter Ended September 26, 2025
($ in millions)
Translation
and O ther (2) Acquisition
Transportation Solutions:
Automotive $ 417 5.9 % $ 212 3.0 % $ 205 $ —
Commercial transportation 264 19.3 233 17.1 31 —
Sensors — — (22) (2.4) 22 —
Total Transportation Solutions 681 7.3 423 4.5 258 —
Industrial Solutions:
Digital data networks 975 44.2 961 43.5 14 —
Automation and connected living 333 15.5 281 13.1 51 1
Energy 543 40.4 243 18.1 29 271
Aerospace, defense, and marine 187 12.6 163 11.0 24 —
Medical (9) (1.3) (9) (1.3) — —
Total Industrial Solutions 2,029 25.8 1,639 20.8 118 272
Reconciling item (3)
(87) — (87) —
Total $ 2,623 15.2 % $ 2,062 11.9 % $ 289 $ 272
Growth (Decline) Growth (Decline) (1)
(3) Reconciling item relates to IEEPA tariff refunds received in fiscal 2026 that are expected to be returned to customers.
(1) Organic net sales growth (decline) is a non-GAAP financial measure. See description of non-GAAP financial measures.
(2) Represents the change in net sales resulting from changes in foreign currency exchange rates and IEEPA tariff refunds.
and O ther (2) Acquisitions
Change in Net Sales for the Year Ended September 25, 2026
versus Net Sales for the Year Ended September 26, 2025
($ in millions)
Net Sales O rganic Net Sales Translation
Reconciliation of Non-GAAP Financial Measures to GAAP
Financial Measures for the Quarter Ended September 25, 2026
19
Operating income:
Transportation Solutions $ 521 $ 1 $ 5 $ 18 $ — $ 545
Industrial Solutions 568 11 9 39 — 627
Reconciling item (4)
4 — — — — 4
Total $ 1,093 $ 12 $ 14 $ 57 $ — $ 1,176
Operating margin 20.6 % 22.1 %
Income tax expense $ (175) $ (2) $ 2 $ (11) $ (59) $ (245)
Effective tax rate 16.3 % 21.1 %
Income from continuing operations $ 901 $ 10 $ 16 $ 46 $ (59) $ 914
Diluted earnings per share from
continuing operations $ 3.10 $ 0.03 $ 0.05 $ 0.16 $ (0.20) $ 3.14
(3) See description of non-GAAP financial measures.
(4) Reconciling item relates to the net impact of IEEPA tariff refunds received in fiscal 2026.
Related and O ther Adjusted
Acquisition- Restructuring
Amortization
(2) Represents a $59 million income tax benefit related to a decrease in the valuation allowance for certain tax loss and credit carryforwards.
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect
for each such jurisdiction.
Adjustments
U.S. GAAP Charges (1) (Non-GAAP) (3) Charges, Net (1)
($ in millions, except per share data)
Expense (1) Tax Items (2)
Reconciliation of Non-GAAP Financial Measures to GAAP
Financial Measures for the Quarter Ended September 26, 2025
20
Operating income:
Transportation Solutions $ 465 $ — $ 3 $ 19 $ — $ 487
Industrial Solutions 451 10 14 39 — 514
Total $ 916 $ 10 $ 17 $ 58 $ — $ 1,001
Operating margin 19.3 % 21.1 %
Income tax expense $ (233) $ (2) $ 6 $ (11) $ 31 $ (209)
Effective tax rate 26.0 % 21.3 %
Income from continuing operations $ 664 $ 8 $ 23 $ 47 $ 31 $ 773
Diluted earnings per share from
continuing operations $ 2.23 $ 0.03 $ 0.08 $ 0.16 $ 0.10 $ 2.59
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect
for each such jurisdiction.
(2) Represents income tax expense of $44 million related to an increase in the valuation allowance for certain U.S. tax loss and credit carryforwards and an
income tax benefit of $13 million related to the revaluation of deferred tax liabilities as a result of a decrease in the corporate tax rate in a non-U.S.
jurisdiction.
(3) See description of non-GAAP financial measures.
Tax Items (2)
Related and O ther Amortization
Acquisition- Restructuring
U.S. GAAP Charges (1)
($ in millions, except per share data)
Charges, Net (1) Expense (1)
Adjustments
Adjusted
(Non-GAAP) (3)
Reconciliation of Non-GAAP Financial Measures to GAAP
Financial Measures for the Year Ended September 25, 2026
21
Operating income:
Transportation Solutions $ 1,969 $ 2 $ 89 $ 71 $ — $ 2,131
Industrial Solutions 2,018 33 28 156 — 2,235
Reconciling item (4)
4 — — — — 4
Total $ 3,991 $ 35 $ 117 $ 227 $ — $ 4,370
Operating margin 20.1 % 22.0 %
Income tax expense $ (695) $ (7) $ (21) $ (45) $ (173) $ (941)
Effective tax rate 17.6 % 21.7 %
Income from continuing operations $ 3,255 $ 28 $ 96 $ 182 $ (173) $ 3,388
Diluted earnings per share from
continuing operations $ 11.07 $ 0.10 $ 0.33 $ 0.62 $ (0.59) $ 11.52
(4) Reconciling item relates to the net impact of IEEPA tariff refunds received in fiscal 2026.
($ in millions, except per share data)
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect
for each such jurisdiction.
(2) Represents a $114 million net income tax benefit related primarily to the settlement of prior period tax matters and a $59 million income tax benefit
related to a decrease in the valuation allowance for certain tax loss and credit carryforwards.
(3) See description of non-GAAP financial measures.
Related and O ther Amortization Adjusted
U.S. GAAP Charges (1) Charges, Net (1) Tax Items (2) (Non-GAAP) (3) Expense (1)
Adjustments
Acquisition- Restructuring
Reconciliation of Non-GAAP Financial Measures to GAAP
Financial Measures for the Year Ended September 26, 2025
22
Operating income:
Transportation Solutions $ 1,818 $ — $ 75 $ 70 $ — $ 1,963
Industrial Solutions 1,393 57 51 120 — 1,621
Total $ 3,211 $ 57 $ 126 $ 190 $ — $ 3,584
Operating margin 18.6 % 20.8 %
Income tax expense $ (1,361) $ (12) $ (13) $ (37) $ 618 $ (805)
Effective tax rate 42.5 % 22.5 %
Income from continuing operations $ 1,843 $ 45 $ 113 $ 153 $ 618 $ 2,772
Diluted earnings per share from
continuing operations $ 6.16 $ 0.15 $ 0.38 $ 0.51 $ 2.07 $ 9.27
($ in millions, except per share data)
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect
for each such jurisdiction.
(2) Represents income tax expense of $574 million related to a net increase in the valuation allowance for certain deferred tax assets associated with a ten-year tax credit obtained by a Swiss subsidiary in fiscal 2024 as well as income tax expense of $44 million related to an increase in the valuation allowance
for certain U.S. tax loss and credit carryforwards.
(3) See description of non-GAAP financial measures.
Related and O ther Adjusted
U.S. GAAP Charges (1) Charges, Net (1) Tax Items (2) (Non-GAAP) (3)
Amortization
Expense (1)
Adjustments
Acquisition- Restructuring
Reconciliation of Non-GAAP Financial Measures to GAAP
Financial Measures for the Quarter Ended December 26, 2025
23
Operating income:
Transportation Solutions $ 501 $ — $ 4 $ 18 $ 523
Industrial Solutions 462 6 6 39 513
Total $ 963 $ 6 $ 10 $ 57 $ 1,036
Operating margin 20.6 % 22.2 %
Income tax expense $ (210) $ (1) $ (3) $ (11) $ (225)
Effective tax rate 21.9 % 21.8 %
Income from continuing operations $ 751 $ 5 $ 7 $ 46 $ 809
Diluted earnings per share from
continuing operations $ 2.53 $ 0.02 $ 0.02 $ 0.15 $ 2.72
Related and O ther Amortization
U.S. GAAP Charges (1) Charges, Net (1) Expense (1)
Acquisition- Restructuring
Adjustments
Adjusted
(Non-GAAP) (3)
($ in millions, except per share data)
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax
laws in effect for each such jurisdiction.
(2) See description of non-GAAP financial measures.
Reconciliation of Adjusted EBITDA
and Adjusted EBITDA Margin
24
Net income $ 900 $ 663
Loss from discontinued operations 1 1
Income tax expense 175 233
Other expense, net 9 11
Interest expense 31 29
Interest income (23) (21)
Operating income 1,093 916
Acquisition-related charges 12 10
Restructuring and other charges, net 14 17
Amortization expense 57 58
Adjusted operating income (1)
1,176 1,001
Depreciation 218 186
Adjusted EBITDA (1) $ 1,394 $ 1,187
Net sales $ 5,312 $ 4,749
Net income as a percentage of net sales 16.9 % 14.0 %
Adjusted EBITDA margin (1)
26.2 % 25.0 %
Operating income $ 521 $ 568 $ 4 $ 1,093 $ 465 $ 451 $ 916
Acquisition-related charges 1 11 — 12 — 10 10
Restructuring and other charges, net 5 9 — 14 3 14 17
Amortization expense 18 39 — 57 19 39 58
Adjusted operating income (1)
545 627 4 1,176 487 514 1,001
Depreciation 113 105 — 218 112 74 186
Adjusted EBITDA (1) $ 658 $ 732 $ 4 $ 1,394 $ 599 $ 588 $ 1,187
Net sales $ 2,600 $ 2,799 $ (87) $ 5,312 $ 2,413 $ 2,336 $ 4,749
Operating margin 20.0 % 20.3 % 20.6 % 19.3 % 19.3 % 19.3 %
Adjusted operating margin (1)
21.0 % 22.4 % 22.1 % 20.2 % 22.0 % 21.1 %
Adjusted EBITDA margin (1)
25.3 % 26.2 % 26.2 % 24.8 % 25.2 % 25.0 %
(1) See description of non-GAAP financial measures.
(2) Reconciling item relates to IEEPA tariff refunds received in fiscal 2026.
($ in millions)
September 25, 2026 September 26, 2025
Transportation Industrial
For the Q uarters Ended
September 25,
2026
September 26,
2025
For the Q uarters Ended
($ in millions)
Transportation Industrial
Solutions Solutions Total Solutions Solutions Total
Reconciling
Item (2)
Reconciliation of Free Cash Flow
25
Net cash provided by operating activities $ 1,528 $ 1,421 $ 4,525 $ 4,139
Net cash used in investing activities (302) (270) (1,334) (3,568)
Net cash used in financing activities (769) (566) (2,749) (629)
Effect of currency translation on cash 1 (2) — (6)
Net increase (decrease) in cash, cash equivalents, and restricted cash $ 458 $ 583 $ 442 $ (64)
Net cash provided by operating activities $ 1,528 $ 1,421 $ 4,525 $ 4,139
Capital expenditures, net (287) (267) (1,113) (925)
Free cash flow (1) $ 1,241 $ 1,154 $ 3,412 $ 3,214
For the Q uarters Ended
September 25, September 26, September 25, September 26,
For the Years Ended
(1) Free cash flow is a non-GAAP financial measure. See description of non-GAAP financial measures.
2026 2025 2026 2025
(in millions)
Free Cash Flow Conversion
26
Free cash flow (1) $ 1,241 $ 1,154 $ 3,412 $ 3,214
Adjusted income from continuing operations (1) $ 914 $ 773 $ 3,388 $ 2,772
Free cash flow conversion (1) 135.8 % 149.3 % 100.7 % 115.9 %
(1) See description of non-GAAP financial measures.
($ in millions)
For the Years Ended
September 25, September 26,
2026 2025
For the Q uarters Ended
September 25, September 26,
2026 2025
Reconciliation of Forward-Looking Non-GAAP Financial
Measures to Forward-Looking GAAP Financial Measures
27
Diluted earnings per share from continuing operations $ 3.04
Acquisition-related charges 0.06
Restructuring and other charges, net 0.05
Amortization expense 0.15
Adjusted diluted earnings per share from continuing operations (2) $ 3.30
Net sales growth 14.6 %
Translation and other (3)
0.7
(Acquisitions) divestitures, net —
Organic net sales growth (2)
15.3 %
Effective tax rate 21.1 % 22.0 %
Effective tax rate adjustments (4)
(0.1) -
Adjusted effective tax rate (2)
21.0 % 22.0 %
(4) Includes adjustments for special tax items and the tax effect of acquisition-related charges and net restructuring and other charges, calculated based
on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction.
Q uarter Ending
O utlook for
2026 (1)
December 25, O utlook for
Fiscal 2027 (1)
(3) Includes IEEPA tariff refunds expected to be received in fiscal 2027 and returned to customers.
(1) Outlook is as of October 28, 2026.
(2) See description of non-GAAP financial measures.
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v3.26.3
Document and Entity Information
Oct. 28, 2026
Document Information
Document Type
8-K
Amendment Flag
false
Document Period End Date
Oct. 28, 2026
Entity File Number
001-33260
Entity Registrant Name
TE CONNECTIVITY PLC
Entity Central Index Key
0001385157
Entity Tax Identification Number
98-1779916
Entity Incorporation, State or Country Code
L2
Entity Address, Address Line One
Parkmore Business Park West
Entity Address, Adress Line Two
Parkmore
Entity Address, City or Town
Galway
Entity Address, Postal Zip Code
H91VN2T
Entity Address, Country
IE
Country Region
+353
City Area Code
91
Local Phone Number
378 040
Written Communications
false
Soliciting Material
false
Pre-commencement Tender Offer
false
Pre-commencement Issuer Tender Offer
false
Entity Emerging Growth Company
false
Ordinary Shares
Document Information
Title of 12(b) Security
Ordinary Shares, Par Value $0.01
Trading Symbol
TEL
Security Exchange Name
NYSE
2.50% Senior Notes due 2028
Document Information
Title of 12(b) Security
2.50% Senior Notes due 2028*
Trading Symbol
TEL/28
Security Exchange Name
NYSE
0.00% Senior Notes due 2029
Document Information
Title of 12(b) Security
0.00% Senior Notes due 2029*
Trading Symbol
TEL/29
Security Exchange Name
NYSE
3.25% Senior Notes due 2033
Document Information
Title of 12(b) Security
3.25% Senior Notes due 2033*
Trading Symbol
TEL/33
Security Exchange Name
NYSE
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Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
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For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
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The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
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Address Line 1 such as Attn, Building Name, Street Name
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Address Line 2 such as Street or Suite number
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Name of the City or Town
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ISO 3166-1 alpha-2 country code.
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Code for the postal or zip code
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A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
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Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Exchange Act
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Indicate if registrant meets the emerging growth company criteria.
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Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
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- Definition
Two-character EDGAR code representing the state or country of incorporation.
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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
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Local phone number for entity.
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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
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Title of a 12(b) registered security.
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Name of the Exchange on which a security is registered.
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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
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Trading symbol of an instrument as listed on an exchange.
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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
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