By Dean Seal

Shares of Teledyne Technologies Inc. were down 5.7% to $377.18 in early trading after the company revised its 2022 outlook based on foreign exchange headwinds.

The supplier of electronic products said it now expects full-year earnings to be between $15.13 to $15.45 per share, down from $15.34 to $15.66 in the previous outlook.

Stripping out one-time items, adjusted earnings are forecasted to be in the range of $17.45 to $17.70, compared with the prior outlook of $17.75 to $18.00.

The Thousand Oaks, Calif.-based company said currency effects have hurt organic sales.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

July 27, 2022 10:07 ET (14:07 GMT)

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