Electronic and fiber optic connector company Amphenol Corporation APH reported a fiscal third-quarter 2024 sales increase of 26% year-on-year to $4.04 billion, beating the analyst consensus estimate of $3.80 billion.
Adjusted EPS of 50 cents topped the analyst consensus estimate of 45 cents.
The adjusted operating margin for the quarter was 21.9% versus 20.8% a year ago.
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Amphenol held $1.58 billion in cash and equivalents as of Sept.30.
CEO R. Adam Norwitt: “Sales increased from prior year by 26%, driven by robust organic growth in the IT datacom, mobile networks, mobile devices, commercial air and defense markets, as well as contributions from the Company’s acquisition program. During the quarter, we again realized strong profitability with Adjusted Operating Margin reaching a record 21.9%.”
Outlook: Amphenol expects fourth-quarter sales of $3.95 billion-$4.05 billion. This represents a 19%-22% increase over the prior-year quarter, and the street view pegs expectations at $3.80 billion.
The company sees adjusted EPS of $0.48–$0.50, representing a 17%–22% increase Y/Y. The analyst consensus stands at $0.45.
Amphenol expects fiscal 2024 sales of $14.85 billion-$14.95 billion, representing an 18%-19% increase over the prior year versus a consensus of $14.62 billion.
It expects fiscal 2024 adjusted EPS of $1.82-$1.84, representing a 21%-22%, versus a consensus of $1.76.
Price Action: APH stock is up 2.47% at $68.50 premarket at the last check Wednesday.
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