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Analyst
Greg Konrad
Period: Reporting periods mapped to calendar 2024 Q4 – 2026 Q1 (6 quarters).
- Questions
- 14on tracked calls
- Challenge rate
- 0%none of 14 questions
- Companies
- 1questioned at least once
- Reporting periods
- 6with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 14 of 14 questions from 1 company
TDYTeledyne Technologies14 questions · 6 reporting periods · 0 of 14 challenging
Calendar 2026 Q1
Maybe just to start on the revised revenue guidance of $6.415 billion. Can you maybe just talk about organic versus inorganic? And then if you think about some of the derisking or things that have ...
Show response
Clear breakdown: 4% organic, 0.9% M&A. Digital Imaging and A&D expected highest growth. FLIR expected ~6.5% growth.
How much was it up overall in the quarter? And then you mentioned FLIR. Can you just maybe give a little bit more color on FLIR defense growth?
Show response
FLIR defense growing ~9%. Growth across drones, loitering munitions, surveillance, and infrared detectors supplied to third-party drone makers globally.
Calendar 2025 Q4
you had really strong Digital Imaging margins in Q4. I think you called out a contingent liability reversal. But how are you thinking about the exit rate for digital imaging?
Show response
Q4 DI margin 24%+ even adjusting for 50bps contingent liability reversal (offset by restructuring costs). FY2025 DI margins 22.6% (+30bps YoY). FY2026 target ~23.4% (+80bps). 24% achievable with good luck.
just thinking about that, 4% growth, is there any way to parse organic versus inorganic given the smaller recent deals plus, you know, how you are thinking about, you know, long cycle growth in bac...
Show response
3.6% organic, 4.2% total. Short/long cycle balanced: environmental and T&M ~2%, marine ~5%, FLIR ~4.6%. No short-cycle business expected to decline for the full year.
Calendar 2025 Q3
you raised the full year outlook by 0.5% to $6.06 billion. Is that all organic?
Show response
$30M increase: $10M FLIR organic, $10M A&D organic, $10M Qioptiq. Conservatism still embedded.
you had talked about a 24% target. How do you think about the margin recovery into Q4 and maybe into next year for Digital Imaging?
Show response
Q4 margins achievable at 2023-2024 levels. Full year flat with last year despite significant restructuring costs. 24% medium-term target maintained. Cost restructuring sets up margin improvement in FY2026.
Calendar 2025 Q2
can you give some color on what overall defense was up and how maybe international contributed to that just given some of the positive commentary
Show response
U.S. defense +12.5% organic, foreign defense +15%. European manufacturing footprint (UK, Sweden, Iceland, Denmark) enables in-country production. Sensor sales to own drones and third-party drone makers. Heritage from Vietnam-era Firebee drones through FLIR unmanned portfolio.
has there been any change to the revenue guidance you gave on the last call just as we think about kind of expectations for Q4?
Show response
Full year raised to ~$6.3B with 6.3% growth. ~4.2% from acquisitions, 2%+ organic. Q3 expected flat with Q2. FX effects and tariff uncertainty still moving parts.
I think you called out the book-to-bill was 1.2 in the quarter. And I appreciate some of the short-cycle commentary. But any additional color in kind of what you're seeing in that business
Show response
George Bobb responded. MV cameras growing in semi inspection. MV sensors down on sales but orders up YoY. Both showing order improvement. Full year still expected relatively flat. Cost structure rightsized.
Calendar 2025 Q1
I believe China is maybe 5% of your total sales. Can you maybe just talk about what you're seeing into that region
Show response
China ~4% of sales, 2% from U.S. Avionic computers essential regardless of tariffs. High-end oscilloscopes and machine vision cameras (made in Canada/Europe, not U.S.) exposed to indirect effects.
how do you think about the net impact, just thinking about margins, given you mentioned some of the pricing and localized production?
Show response
$700M import base facing ~15% average tariff = ~$100M cost increase, mitigatable to <$70M (~$18M/quarter). Goes through inventory first so P&L impact delayed to Q3-Q4. Pricing and supply chain actions underway.
it seems like you took about 1 point out of revenues, including the M&A contribution. Can you maybe just level set us where you see the biggest potential impact?
Show response
~$100M taken out of guidance representing 1% GDP hit. Impact mostly in Digital Imaging (~$16-20M) and Instruments (~$20M). A&D and Engineered Systems not affected.
Calendar 2024 Q4
maybe just starting with the Digital Imaging outlook, I mean, a lot to unpack in the quarter and you have both short cycle and FLIR. Can you maybe just put a finer point on kind of last year into n...
Show response
FLIR defense +9% in FY2024, expected +3.9% in FY2025. Machine vision area scan declined $40M but rest of FLIR +$70M. Legacy DI organic only ~1.2% growth. Conservative on commercial DI due to FX headwinds. Total DI growth ~3.6% with acquisitions.
implied EPS, it seems like you have good margin expansion into 2025. I think in the past, you've maybe talked about mix of some of that short cycle markets
Show response
Overall margins expected +80bps to 24.1%. DI +70-80bps. Instruments more modest +45bps (already up 310bps since 2022). A&D only +14-15bps due to Micropac dilution initially.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| TDY Teledyne Technologies | 14 | 0%none of 14 questions |
- TDYTeledyne Technologies · 14 questions0%none of 14 questions
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2024 Q4 | 2 | 0%none of 2 questions | 1 |
| 2025 Q1 | 3 | 0%none of 3 questions | 1 |
| 2025 Q2 | 3 | 0%none of 3 questions | 1 |
| 2025 Q3 | 2 | 0%none of 2 questions | 1 |
| 2025 Q4 | 2 | 0%none of 2 questions | 1 |
| 2026 Q1 | 2 | 0%none of 2 questions | 1 |
- 2024 Q42 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q13 questions · challenge rate 0% (none of 3 questions) · 1 company
- 2025 Q23 questions · challenge rate 0% (none of 3 questions) · 1 company
- 2025 Q32 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q42 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2026 Q12 questions · challenge rate 0% (none of 2 questions) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Revenue Growth8
- Guidance Reliability4
- Demand4
- Margin4
- Trade Tariffs3
- Geographic Expansion2