Amphenol reports Q2 EPS 74c, consensus 68c

Reports Q2 revenue $3.05B, consensus $2.95B. “We are pleased to have closed the second quarter of 2023 with sales and Adjusted Diluted EPS both exceeding the high end of our guidance,” said Amphenol president and CEO Adam Norwitt. “Sales decreased from prior year by 3%, driven by declines in the IT datacom, mobile networks and mobile devices markets, which was partially offset by growth in the commercial air, military and automotive markets as well as contributions from the Company’s acquisition program. Despite the moderation in our sales from prior year, our team executed strongly in the quarter, with Adjusted Operating Margin reaching 20.4%.”