8-K
Sensata Technologies Holding plc (ST)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
__________________________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 8, 2020
__________________________________________
SENSATA TECHNOLOGIES HOLDING PLC
(Exact name of Registrant as specified in its charter)
__________________________________________
| England and Wales | 001-34652 | 98-1386780 |
|---|---|---|
| (State or other jurisdiction<br>of incorporation) | (Commission<br>File Number) | (IRS Employer<br>Identification No.) |
529 Pleasant Street
Attleboro, Massachusetts 02703, United States
(Address of Principal executive offices, including Zip Code)
+1(508) 236 3800
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
__________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | | --- | --- || ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | | --- | --- || ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | | --- | --- || ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | | --- | --- |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of exchange on which registered |
|---|---|---|
| Ordinary Shares - nominal value €0.01 per share | ST | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
| Item 7.01 | Regulation FD Disclosure. |
|---|
On September 8, 2020, Sensata Technologies Holding plc (the “Company”) issued a press release announcing an update to its third quarter 2020 financial guidance originally provided on July 28, 2020. The new financial guidance anticipates third quarter revenue to be in the range of $735 million to $765 million and adjusted earnings per share ("EPS") in the range of $0.50 to $0.56, assuming no significant reversal in current market conditions. The press release announcing the change in guidance is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
| Item 9.01 | Financial Statements and Exhibits. |
|---|
(d) Exhibits
| 99.1 | September 8, 2020 press release entitled "Sensata Technologies Raises Third Quarter 2020 Financial Guidance" |
|---|---|
| 104 | Cover Page Interactive Data File (embedded within Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SENSATA TECHNOLOGIES HOLDING PLC | |
|---|---|
| /s/ Maria Freve | |
| Date: September 8, 2020 | Name: Maria Freve |
| Title: Vice President and Chief Accounting Officer |
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Document

Sensata Technologies Raises Third Quarter 2020 Financial Guidance
SWINDON, United Kingdom – September 8, 2020 – Sensata Technologies (NYSE:ST), a global industrial technology company and a leading provider of sensor-rich solutions that create insights for customers, today announced an update to its third quarter 2020 financial guidance originally provided on July 28, 2020.
"We are seeing increased business activity especially in our Automotive business in Europe and the U.S. which has translated into higher orders and deliveries within the quarter,” said Jeff Cote, CEO and President of Sensata. “We now expect third quarter revenue to be in the range of $735 to $765 million and Adjusted EPS in the range of $0.50 to $0.56, assuming no significant reversal in current market conditions.”
| in millions, except EPS | Q2-20 | Prior Q3-20 Guidance as of 7/28/20 | Updated Q3-20 Guidance as of 9/08/2020 | Q/Q Sequential Change |
| Revenue | $576.5 | $675 - $705 | $735 - $765 | 28% - 33% |
| organic growth | 27% - 32% | |||
| Adjusted Operating Income | $75.0 | $110 - $124 | $132 - $142 | 76% - 89% |
| Adjusted Net Income | $27.7 | $60 - $74 | $79 - $89 | 185% - 221% |
| Adjusted EPS | $0.18 | $0.38 - $0.46 | $0.50 - $0.56 | 178% - 211% |
All values are in US Dollars.
Upcoming Investor Conference Presentations
Sensata Technologies will present at the Citigroup Technology Investor conference on Wednesday, September 9th at 8:55 a.m. ET and will present at the RBC Industrial Investor conference on Monday, September 14th at 4:20 p.m. ET. Both events are being held virtually and a live audio webcast of each presentation will be available on the Company’s investor relations website at: http://investors.sensata.com. A replay of the presentations will be archived and available at the same location.
About Sensata Technologies
Sensata Technologies is a leading industrial technology company that develops sensors, sensor-based solutions, including controllers and software, and other mission-critical products to create valuable business insights for customers and end users. For more than 100 years, Sensata has provided a wide range of customized, sensor-rich solutions that address complex engineering requirements to help customers solve difficult challenges in the automotive, heavy vehicle & off-road, industrial and aerospace industries. With more than 20,000 employees and operations in 11 countries, Sensata’s solutions help to make products safer, cleaner and more efficient, electrified, and connected. For more information, please visit Sensata’s website at www.sensata.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding anticipated financial results and liquidity. The words "will," "may," "designed to," "outlook," "believes," "should," "anticipates," "plans," "expects," "intends," "estimates," "forecasts" and similar expressions identify certain of these forward-looking statements. The Company also may provide forward-looking statements in oral statements or other written materials released to the public. All statements contained or incorporated in this press release or in any other public statements that address operating performance, events or developments that the Company expects or anticipates may occur in the future are forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2019, and its other Securities and Exchange Commission filings. Future operating results will be based on various factors, including actual industry production volumes, the impact of COVID-19 on the Company’s business and the global economy, commodity prices, the impact of restructuring actions and the Company's success in implementing its operating strategy. The forward-looking statements in this press release are made as of the date hereof, and the Company does not assume any obligation to update, amend or clarify them to reflect events, new information or circumstances occurring after the date hereof.
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| Media Contact: | Investor Contact |
|---|---|
| Alexia Taxiarchos | Jacob Sayer |
| Head of Media Relations | Vice President, Finance |
| +1 (508) 236-1761 | +1 (508) 236-1666 |
| ataxiarchos@sensata.com | jsayer@sensata.com |