TE Connectivity Ltd. (TEL) Q1 2023 Earnings Call Transcript

TE Connectivity Ltd. (NYSE:TEL) Q1 2023 Earnings Conference Call January 25, 2023 8:30 AM ET

Company Participants

Sujal Shah - VP, IR

Terrence Curtin - CEO

Heath Mitts - EVP and CFO

Conference Call Participants

Mark Delaney - Goldman Sachs

David Kelley - Jefferies

Wamsi Mohan - Bank of America Securities

Christopher Snyder - UBS

Matthew Sheerin - Stifel, Nicolaus & Company

James Suva - Citigroup

Amit Daryanani - Evercore ISI

Scott Davis - Melius Research

Christopher Glynn - Oppenheimer & Co.

William Stein - Truist Securities

Unidentified Analyst - Cowen

Samik Chatterjee - J.P. Morgan Chase

Steven Fox - Fox Advisors

Guy Hardwick - Credit Suisse

Luke Junk - Robert W. Baird

Shreyas Patil - Wolfe Research

Operator

Ladies and gentlemen, thank you for standing by and welcome to the TE Connectivity First Quarter 2023 Earnings Call. At this time, all lines are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions]. As a reminder, today's call is being recorded.

I would now like to turn the conference over to our host, Vice President of Investor Relations, Sujal Shah. Please go ahead.

Sujal Shah

Good morning and thank you for joining our conference call to discuss TE Connectivity's first quarter 2023 results. With me today are Chief Executive Officer, Terrence Curtin; and Chief Financial Officer, Heath Mitts.

During this call, we will be providing certain forward-looking information and we ask you to review the forward-looking cautionary statements included in today's press release. In addition, we will use certain non-GAAP measures in our discussion this morning and we ask you to review the sections of our press release and the accompanying slide presentation that address the use of these items. The press release and related tables, along with the slide presentation, can be found on the Investor Relations portion of our website at te.com.

Finally, during the Q&A portion of today’s call we are asking everyone to limit themselves to one question and you may rejoin the queue if you have a second question. Now let me turn the call over to Terrence for opening comments.

Terrence Curtin

Thanks, Sujal and thank you everyone for joining us today to cover our results for our first fiscal quarter along with our outlook for our second quarter.

Before Heath and I take you through the details on the slides, I do want to take a moment to discuss our performance within the backdrop of the current environment along with what we're seeing since our call 90 days ago. Clearly, we're all experiencing a lot of moving pieces in the global macro environment. While this volatility is creating cyclicality in specific end markets, we continue to benefit from secular trends leading to outperformance across many of the markets we serve.