Amphenol reports Q1 adjusted EPS 80c, consensus 73c

Reports Q1 revenue $3.26B, consensus $3.1B. “We are pleased to have closed the first quarter of 2024 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 9%, driven by growth in the IT datacom, commercial air, automotive and defense markets as well as contributions from the Company’s acquisition program, partially offset by moderations in the mobile networks, broadband and industrial markets. During the quarter, we again realized strong profitability with Adjusted Operating Margin of 21.0%, a first-quarter record. We are very proud of the Company’s outstanding performance during the quarter.”