Ciara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
Sensata Technologies Holding Plc’s stock ST, -0.61% fell 1.6% early Tuesday, after the maker of sensors and senor-based technology for the automotive and aerospace industries, lowered full-year guidance to reflect the impact of the UAW strike. The company posted net income of $62.8 million, or 41 cents a share, for the third quarter, down from $140.3 million, or 91 cents a share, in the year-earlier period.
“Sensata remains on track to achieve its long-term growth goals, including scaling its Electrification business to $2 billion in revenue by 2026,” said Jeff Cote, CEO, in a statement. Cote said the third-quarter numbers were in line with the company’s own guidance. However, it adjusted its fourth-quarter guidance “to reflect updated third-party estimates for automotive production in the quarter due to the UAW strike.
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