Amphenol reports Q1 adjusted EPS 69c, consensus 67c

Reports Q1 revenue $2.97B, consensus $2.9B. "We are pleased to have closed the first quarter of 2023 with sales and Adjusted Diluted EPS both exceeding the high end of our guidance," said Amphenol President and Chief Executive Officer, R. Adam Norwitt. "Sales increased from prior year by 1%, driven by strong growth in the commercial air, broadband communications, military, industrial and automotive markets, as well as contributions from the Company’s acquisition program. This was largely offset by expected declines in the IT datacom, mobile networks and mobile devices markets, along with the negative impact of currency. Despite the continued range of challenges around the world, as well as moderating conditions in several of our communications-related markets, our team executed strongly in the quarter, with Adjusted Operating Margin reaching 20.1%."