Amphenol (APH) Q3 2026 Earnings Report
MX:APH Q3 2026 EPS Results
- Actual EPS
- MXN 15.03
- Consensus EPS
- MXN 13.70
- Beat/Miss
- Beat by +MXN 1.33
- One Year Ago EPS
- MXN 8.74
MX:APH Q3 2026 Revenue Results
- Actual Revenue
- MXN 192.18B
- Expected Revenue
- MXN 178.30B
- Beat/Miss
- Beat by +MXN 13.88B
- YoY Revenue Growth
- +65.14%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/28/2026
- Time
- Before Open
- Conference Call
- Wednesday, October 28, 2026
Amphenol's next earnings date is estimated for January 27, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call was strongly positive. Record sales, orders, earnings, cash flow, margins, backlog, and guidance were supported by broad-based demand, particularly in AI-driven IT Datacom, defense, industrial, mobile devices, and commercial air. The main challenges were organic weakness in communications networks, expected near-term moderation in industrial and automotive, a sequential margin decline partly related to lower tariff recoveries, higher GAAP taxes, and some acquisition-related margin dilution. Highlights significantly outweighed lowlights.
Assuming the continuation of current market conditions and constant exchange rates, Amphenol expects fourth-quarter sales of $10.3 billion to $10.5 billion and adjusted diluted EPS of $0.81 to $0.83, representing a year over year sales increase of 60% to 63% and an adjusted diluted EPS increase of 65% to 69%; full-year sales are expected at $36.9 billion to $37.1 billion and full-year adjusted diluted EPS at $2.82 to $2.84, representing a full year sales increase of approximately 60% and an adjusted EPS increase of approximately 70%. Fourth-quarter market guidance includes a mid single digit increase in defense sales, sales remaining at the strong third quarter levels in commercial air, sales moderating somewhat in industrial, a slight sales moderation in automotive, a further decline in communications networks, an increase of approximately 35% in mobile devices, and a mid single digits increase in IT Datacom; full-year guidance includes defense sales increasing by more than 35%, commercial air by approximately 20%, industrial by more than 50%, automotive in the 10% range, communications networks by more than 40%, mobile devices by more than 30%, and IT Datacom sales more than double compared to prior year. Guidance excludes Advanced PCB, DexScreen, and Humanetics; CommScope is expected to achieve $5.1 billion in sales and contribute $0.18 to 2026 adjusted earnings per share. Long term, capital intensity is expected to remain in the 3% to 4% range, with maybe slightly higher than 4 and certainly times where we are growing pretty quickly.
- Record Quarterly Sales and Strong Organic GrowthThird-quarter sales reached a record $10.2 billion, up 65% in U.S. Dollars and local currencies and up 37% organically compared to the third quarter of 25. Sequentially, sales increased 17% in U.S. Dollars and local currencies and 16% organically.
- Record Orders and Book-to-BillOrders reached a record $12.17 billion, up 99% compared to the third quarter of 25 and up 13% sequentially, producing a strong book-to-bill ratio of 1.19 to 1. Positive book-to-bill was achieved in all but one end market.
- Record Earnings and Operating PerformanceGAAP and adjusted operating income were both approximately $3 billion, with GAAP and adjusted operating margins of 29.5% and 29.7%, respectively. Adjusted operating margin increased 22 basis points year over year, driven primarily by operating leverage on higher sales volumes that more than offset the margin-dilutive impact of recent acquisitions.
- Record Adjusted EPS GrowthGAAP diluted EPS was a record $0.79, up 61% compared to the prior-year period. Adjusted diluted EPS was a record $0.80, up 74% from $0.46 in the third quarter of 25.
- Strong Cash Flow GenerationOperating cash flow was a record $2.1 billion, or 102% of net income, and free cash flow was a record $1.6 billion, or 80% of net income. Inventory days, days sales outstanding, and payable days were all within normal ranges.
- Shareholder Returns IncreasedThe company repurchased 3 million shares at an average price of approximately $81, and total capital returned to shareholders was approximately $553 million. The quarterly dividend was increased 20% to $0.15 per share beginning with payments in January 2027, and the Board approved a new three-year $4 billion stock repurchase plan effective January 1, 2027.
- Robust Balance Sheet and LiquidityTotal debt was $17.9 billion, net debt was $12.6 billion, and total liquidity was $8.3 billion, including $5.3 billion of cash and short-term investments. Adjusted EBITDA was $3.4 billion and the net leverage ratio was 1.1x.
- Strong Segment PerformanceCommunications Solutions sales were $6.6 billion, up 99% in U.S. Dollars and 51% organically, with a 33.1% operating margin. Harsh Environment Solutions sales were $2 billion, up 35% in U.S. Dollars and 29% organically, with a 30.1% operating margin. Interconnect and Sensor Systems sales were $1.6 billion, up 17% in U.S. Dollars and 11% organically, with a 20% operating margin.
- Defense Market Growth and OutlookDefense represented 8% of quarterly sales, with sales up 42% in U.S. Dollars and 30% organically year over year, driven by growth across virtually all defense segments. Sequential sales increased 12%. The company expects a mid-single-digit increase in the fourth quarter and full-year 2026 sales growth of more than 35%, driven primarily by strong organic growth and acquisitions.
- Commercial Air Market ExpansionCommercial air represented 3% of sales, with sales up 23% year over year and 22% organically, benefiting from increasing aircraft production volumes and higher content on next-generation commercial aircraft. Sequential sales increased 9%. The company expects fourth-quarter sales to remain at strong third-quarter levels and full-year 2026 sales to increase approximately 20%.
- Broad-Based Industrial GrowthIndustrial represented 18% of sales, with sales up 60% in U.S. Dollars and 25% organically, supported by continued demand across diversified industrial submarkets and the addition of CommScope's building connectivity business. Virtually all industrial submarkets grew in the quarter, and all three geographies showed strong growth. Full-year 2026 sales growth is expected to exceed 50%, reflecting organic growth and acquisitions.
- Automotive Growth Driven by Electric VehiclesAutomotive represented 10% of sales, with sales up 13% in U.S. Dollars and 9% organically, driven by strength in electric vehicles and growth in all regions. Sequential sales increased 12%, including some contribution from the Empire acquisition. Full-year 2026 sales are expected to increase in the 10% range.
- Mobile Devices OutperformanceMobile devices represented 5% of sales, with sales up 31% in U.S. Dollars and 29% organically, driven by growth in wearables, handsets, laptops, and accessories that more than offset a modest decline in tablets. Sequential sales increased 32%. Fourth-quarter sales are expected to increase approximately 35% from third-quarter levels, and full-year 2026 sales growth is expected to exceed 30%.
- IT Datacom and AI Demand AccelerationIT Datacom represented 48% of sales, with sales up 100% in U.S. Dollars and 77% organically, driven by accelerating demand for products used in artificial intelligence applications and continued strength in the base IT Datacom business. Sequential sales increased 30%, substantially above the expected mid-teens increase, with approximately three-quarters of IT Datacom sales now related to AI. Fourth-quarter sales are expected to increase in the mid-single digits, and full-year 2026 sales are expected to more than double.
- Continued Investment in AI Interconnect TechnologiesThe company continues to invest in high-speed copper, optical, and power interconnect technologies for AI and data-center applications. Power interconnect is described as a meaningful portion of the AI business and a high-growth opportunity as chip architectures consume more power and customers move toward 800-volt and beyond power formats.
- CommScope Performance and Integration ProgressCommScope's expected 2026 sales increased to $5.1 billion, with an expected contribution of $0.18 to 2026 adjusted EPS. The company said CommScope is benefiting from strong demand in data centers and industrial markets, continued execution, access to capital, and investment in technology and capacity. CommScope's IT Datacom sales are expected to more than double in 2026 and represent roughly half of its full-year sales, compared with around a third last year.
- Acquisition Program ExpandedThe company closed the acquisition of Empire Electronics, which is expected to generate approximately $320 million of 2026 revenue and has approximately 4.8 thousand employees. Definitive agreements were also signed for Advanced PCB, expected to generate approximately $270 million of sales; DexScreen, expected to generate approximately $90 million; and Humanetics, expected to generate approximately $70 million. The latter three acquisitions are expected to close between the call date and the end of the first quarter.
- Fourth-Quarter and Full-Year Guidance Raised to Strong Growth LevelsFourth-quarter sales are expected to be $10.3 billion to $10.5 billion, with adjusted diluted EPS of $0.81 to $0.83. This represents year-over-year sales growth of 60% to 63% and adjusted diluted EPS growth of 65% to 69%. Full-year sales guidance is $36.9 billion to $37.1 billion, with adjusted diluted EPS of $2.82 to $2.84, representing approximately 60% sales growth and approximately 70% adjusted EPS growth.
- Defense and Industrial Demand Broadly DistributedManagement reported double-digit growth across nearly every defense application, including space, land, unmanned vehicles, communications, avionics, vehicles, munitions-related applications, and naval markets. Industrial growth was also broad, including building automation, industrial instrumentation, oil and gas, alternative energy, electrification, factory automation, and heavy equipment.
- Organic Growth and Diversification Remain StrongManagement stated that, excluding AI and its growth, the company is generating organic growth in the high teens percentage range. The company also emphasized continued diversification across customers, technologies, geographies, and end markets while continuing to invest in IT Datacom and other markets.
MX:APH Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Jan 27, 2027 | 2026 (Q4) | 15.20- | 9.11 | ― | ― |
| Oct 28, 2026 | 2026 (Q3) | 13.7015.03 | 8.74 | 72.04% (+6.29) | |
| Jul 29, 2026 | 2026 (Q2) | 11.0512.68 | 7.61 | 66.67% (+5.07) | |
| Apr 29, 2026 | 2026 (Q1) | 8.859.96 | 5.92 | 68.25% (+4.04) | |
| Jan 28, 2026 | 2025 (Q4) | 8.759.11 | 5.17 | 76.36% (+3.95) | |
| Oct 22, 2025 | 2025 (Q3) | 7.468.74 | 4.7 | 86.00% (+4.04) | |
| Jul 23, 2025 | 2025 (Q2) | 6.267.61 | 4.13 | 84.09% (+3.48) | |
| Apr 23, 2025 | 2025 (Q1) | 4.925.92 | 3.76 | 57.50% (+2.16) | |
| Jan 22, 2025 | 2024 (Q4) | 4.725.17 | 3.85 | 34.15% (+1.32) | |
| Oct 23, 2024 | 2024 (Q3) | 4.254.70 | 3.66 | 28.21% (+1.03) |
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.
