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Teledyne Is Not Just A Defense Story — Space Tops $400 Million!

Teledyne Technologies reported its second quarter of fiscal 2026 with record sales, orders, and operating profit, reflecting broad-based growth across its diversified portfolio. Sales increased 9.8% year-over-year, with non-GAAP earnings rising 20.8%, supported by strong backlog execution and approximately $5 billion in funded backlog at quarter-end. Orders exceeded sales for the 11th consecutive quarter, driven largely by robust demand in the Digital Imaging segment, where organic sales growth of nearly 12% was fueled by infrared detectors and subsystems for space, airborne, and maritime unmanned systems, along with counter-drone applications. Other segments, including Instrumentation, Aerospace and Defense Electronics, and Engineered Systems, registered mid- to high single-digit growth. Digital Imaging’s operating margin improved substantially by 353 basis points to 25%, aided by tariff refunds that contributed roughly 120 basis points, nearly offset by higher R&D and inventory reserves.