Amphenol reported record first quarter results with strong sales growth driven by organic expansion and acquisitions, alongside robust order intake and improved profitability. The company is actively deploying capital through share repurchases and dividends, and is optimistic about future growth opportunities fueled by technological innovation and its expanded product portfolio.
Record first quarter sales of $7.6 billion, up 58% year-over-year and 33% organically.
positiveRecord orders of $9.4 billion, resulting in a strong book-to-bill ratio of 1.24:1.
positiveAdjusted Diluted EPS of $1.06, up 68% compared to the prior year.
positiveAdjusted Operating Margin reached 27.3%, demonstrating strong profitability.
positiveOperating Cash Flow of $1.1 billion and Free Cash Flow of $831 million.
positiveSignificant increase in inventories from $3.4B to $4.1B, a 19% increase QoQ, outpacing revenue growth.
attentionA substantial increase in long-term debt from $14.6B to $16.6B, a 13.7% increase QoQ, primarily due to acquisitions.
attentionDiscrete tax items in China resulted in $290.0 million in additional tax obligations, impacting net income.
attentionAcquisition-related expenses of $116.9 million and amortization of acquisition-related inventory step-up costs of $132.0 million impacted GAAP results.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total | CC |
|---|---|---|---|---|---|
Communications Solutions | N/A | — | — | — | +47.0% |
Harsh Environment Solutions | N/A | — | — | — | +23.0% |
Interconnect and Sensor Systems | N/A | — | — | — | +17.0% |
| Total Revenue | $0.00M | — | — | 100.0% | — |
Segment performance shows business unit health and growth drivers. Constant currency (CC) removes FX impact for like-for-like comparison.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
| Metric | Value | Period | Specificity | vs Prior |
|---|---|---|---|---|
| sales | 8.1 billion to 8.2 billion | Q2 2026 | tight_range | New |
| adjusted_diluted_eps | $1.14 to $1.16 | Q2 2026 | tight_range | New |
| sales | high single-digit range sequentially | Q2 2026 | directional | New |
| sales | slight further sequential moderation | Q2 2026 | directional | New |
| sales | high single digits from these already strong first quarter levels | Q2 2026 | directional | New |
| sales | increase modestly from these first quarter levels | Q2 2026 | directional | New |
| sales | remain at these first quarter levels | Q2 2026 | directional | New |
| sales | modest sales decline | Q2 2026 | directional | New |
| sales | low teens level | Q2 2026 | directional | New |
$7.6 billion · end of the quarter · funded by cash and short-term investments on hand plus ability under existing credit facilities
net leverage ratio: 1.6 times
$140 · first quarter of 2026
funded by debt offering proceeds
funded by free cash flow generation and proceeds from our ongoing portfolio management actions
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Record sales and Adjusted Diluted EPS exceeding guidance.
Strong organic growth driven by IT datacom and contributions from acquisitions.
Record orders and a book-to-bill of 1.24:1 indicate strong demand.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.