EarningsQ2 2026 Earnings Report
MX:APH Q2 2026 EPS Results
Actual EPS$11.42
Consensus EPS$9.94
Beat/MissBeat by +$1.47
One Year Ago EPS$6.85
MX:APH Q2 2026 Revenue Results
Actual Revenue$148.12B
Expected Revenue$139.66B
Beat/MissBeat by +$8.45B
YoY Revenue Growth+55.00%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeBefore Open
Conference CallWednesday, July 29, 2026
MX:APH Upcoming Earnings
Amphenol's next earnings date is estimated for October 28, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:APH Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was decidedly positive: management reported record sales, record orders, record adjusted EPS, strong operating margins, robust cash generation, and an improved outlook for the CommScope acquisition driven by AI/IT datacom demand. Multiple end markets delivered strong organic growth (notably IT datacom, industrial, defense, commercial air and mobile devices). Headwinds include communications networks organic moderation with expected Q3 sequential declines, higher effective tax rates, one-time tariff/acquisition-related benefits embedded in Q2 results, increased CapEx to support growth, and ongoing supply-chain sensitivities (e.g., fiber). On balance the operational execution, margin expansion, upgraded acquisition contribution, and cash/coverage metrics substantially outweigh the near-term moderations and risks.Company Guidance
Record Sales and Strong YoY/Sequential Growth
Second quarter record sales of $8.8 billion, up 55% in U.S. dollars, 54% in local currencies, and 30% organically vs. Q2 2025. Sequentially sales rose 15% in USD (15% in local currencies) and 13% organically.
Record Orders and Robust Book-to-Bill
Quarterly orders reached a record $10.7 billion, up 94% year-over-year and up 14% sequentially, producing a strong book-to-bill ratio of 1.23; every end market had a positive book-to-bill in the quarter.
Record Adjusted EPS and Improved Profitability
Adjusted diluted EPS was a record $1.35, up 67% YoY (GAAP diluted EPS $1.37, +59% YoY). Adjusted operating income of $2.6 billion and adjusted operating margin of 29.8% (up 24 basis points YoY and up 250 basis points sequentially). GAAP operating margin was 29.5%.
Exceptional Cash Generation and Shareholder Returns
Operating cash flow of $1.6 billion (88% of net income) and free cash flow of $1.2 billion (68% of net income). Returned approximately $515 million to shareholders in Q2 (including repurchase of 1.5 million shares at an average price of $141 and regular dividend).
CommScope Acquisition Outperformance and Guidance Upgrade
CommScope now expected to deliver $4.6 billion of sales and $0.30 of accretion for full-year 2026 (previously $4.1B and $0.15). CommScope showing strong profitability (operating over 20% in Q2 including amortization) and rapid IT datacom growth (near doubling YoY in IT datacom).
IT Datacom / AI-Related Demand Surge
IT datacom represented 43% of company sales and grew 89% in USD and 63% organically in Q2, driven largely by AI-related products. Sequential IT datacom sales increased 22%; management expects further mid-teens sequential growth in Q3 as AI data center investments accelerate.
Strong Segment Performance Across Most End Markets
Communication Solutions: $5.4B (+85% USD, +42% organic) with 33.6% margin. Harsh Environment Solutions: $1.9B (+28% USD, +22% organic) with 30.1% margin. Interconnect & Sensor Systems: $1.5B (+17% USD, +13% organic) with 21% margin. Defense +37% USD / +24% organic; Industrial +56% USD / +18% organic; Mobile Devices +17% USD / +14% organic; Automotive +9% USD / +6% organic.
Healthy Balance Sheet and Leverage Metrics
Total debt $18.8 billion, net debt $13.4 billion, total liquidity $8.4 billion (including $5.4 billion cash/short-term investments). Q2 EBITDA $3.0 billion and net leverage ratio 1.3x.
MX:APH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed