10-Q

Quarterly report

✓ VerifiedTeledyne reported Q3 2026 net sales of $1,684.9 million, up 9.4%, with net income attributable to Teledyne of $272.8 million and diluted EPS of $5.82, while agreeing to acquire Varex Imaging for about $1.1 billion.

Filed Oct 23, 2026 · 17:19 ET

Summary

Third quarter net sales rose to $1,684.9 million from $1,539.5 million, a 9.4% increase, and net income attributable to Teledyne was $272.8 million, up 23.6%, with diluted EPS of $5.82 versus $4.65.
On August 10, 2026, Teledyne and Varex Imaging Corporation entered a definitive agreement for Teledyne to acquire Varex in a cash transaction valued at approximately $1.1 billion, with close targeted for early 2027 and Varex to join the Digital Imaging segment.
Digital Imaging led growth with Q3 net sales of $903.0 million, up 15.0%, and operating income of $182.7 million, up 48.1%, driven by higher infrared imaging detector and X-ray product sales.
In the second quarter of 2026, the Company repaid $450.0 million of its Fixed Rate Senior Notes due April 2026, reducing total debt, net to $2,027.8 million from $2,475.4 million.
During the third quarter and first nine months of 2026, the Company repurchased approximately 0.2 million shares for $94.8 million at a weighted average price of $603.09, with $1.5 billion remaining under the $2.0 billion authorization.
Remaining performance obligations totaled $5,514.4 million as of September 27, 2026, and nine-month operating cash flow was $901.7 million.

Key facts

Q3 net sales: $1,684.9 million
From the filing for Q3 net sales
“Our third quarter of 2026 net sales increased 9.4%.”
Q3 net income attributable to Teledyne: $272.8 million
From the filing for Q3 net income attributable to Teledyne
“Net income (loss) attributable to Teledyne $ 272.8 $ 220.7 $ 751.3 $ 619.2”
Q3 diluted EPS: $5.82
From the filing for Q3 diluted EPS
“Net income per diluted share was $5.82 for the third quarter of 2026, compared with net income per diluted share of $4.65.”
Varex acquisition: approximately $1.1 billion
From the filing for Varex acquisition
“Teledyne will acquire Varex in a cash transaction valued at approximately $ 1.1 billion, which considers Varex's outstanding equity awards and net debt”
Senior notes repaid: $450.0 million
From the filing for Senior notes repaid
“the Company repaid $ 450.0 million of its Fixed Rate Senior Notes due April 2026”
Share repurchases: 0.2 million shares for $94.8 million
From the filing for Share repurchases
“the Company repurchased approximately 0.2 million shares for $ 94.8 million, with a weighted average price of $ 603.09 per share”
Remaining performance obligations: $5,514.4 million
From the filing for Remaining performance obligations
“the aggregate amount of the transaction price allocated to remaining performance obligations was $ 5,514.4 million”
Nine-month operating cash flow: $901.7 million
From the filing for Nine-month operating cash flow
“Net cash provided by operating activities was $901.7 million for the first nine months of 2026”

Why it mattersThe pending $1.1 billion Varex acquisition would expand Teledyne's Digital Imaging segment into X-ray imaging, funded from cash and credit facility borrowings. Defense electronics and infrared imaging drove the quarterly sales and margin gains.

Filed: Oct 23, 2026
Accepted: 2026-10-23 21:19Z
Period: Sep 27, 2026
Accession no.: 0001094285-26-000059
Size: 9.4 MB
Index: Filing index

Summary

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