Earnings Per Share

3 Months Ended

Mar. 29, 2026

The weighted average number of common shares used in the calculation of basic and diluted earnings per share consisted of the following (in millions):


	First Quarter
	2026	2025

Weighted average basic common shares outstanding	46.3	46.8
Effect of dilutive securities (primarily stock options)	0.5	0.5
Weighted average diluted common shares outstanding	46.8	47.3

For the first quarter of 2026 and 2025, the Company did not have any stock options that would have been anti-dilutive.

Stock Repurchases

In July 2025, the Company’s Board of Directors approved a stock repurchase program authorizing the Company to repurchase up to $2.0 billion of Teledyne’s common stock. As of March 29, 2026, $1.6 billion remained available under the repurchase authorization. The authorized stock repurchase program does not have a stated expiration date. Shares may be repurchased from time to time in open-market transactions at prevailing market prices, in privately negotiated transactions or via an accelerated stock repurchase program. Shares could be repurchased in a plan pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934. The repurchase program is expected to remain open continuously, and the number of shares purchased will depend on a variety of factors such as share price, levels of cash available, acquisitions and alternative investment opportunities available immediately or longer-term, and other regulatory, market or economic conditions. The Company currently intends to fund future share repurchases, if any, with cash on hand and available borrowings under the Company’s credit facility. No repurchases under any authorizations were made in the first quarter of 2026.