Have you looked into how Amphenol (APH) performed internationally during the quarter ending June 2024? Considering the widespread global presence of this maker of fiber-optic products, examining the trends in international revenues is essential for assessing its financial resilience and prospects for growth.In the current era of a tightly interconnected global economy, the proficiency of a company to penetrate international markets significantly influences its financial health and trajectory of growth. For ...

Part I - Financial Information [Item 1. Financial Statements](index=2&type=section&id=Item%201.%20Financial%20Statements) This section presents Amphenol's unaudited condensed consolidated financial statements for Q2 2024, including Balance Sheets, Income, Comprehensive Income, and Cash Flow, with notes on key events [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) **Total assets** increased to **$18.59 billion** by June 30, 2024, driven by **acquisitions**, while **total liabilities** grew to **$9.54 billion** due to increased long-term debt Condensed Consolidated Balance Sheet Highlights (in millions) | Account | June 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Total current assets | $6,971.8 | $6,835.3 | | Goodwill | $8,261.8 | $7,092.4 | | Other intangible assets, net | $1,308.7 | $834.8 | | **Total Assets** | **$18,586.8** | **$16,526.4** | | Total current liabilities | $3,455.8 | $3,152.7 | | Long-term debt, less current portion | $5,035.3 | $3,983.5 | | **Total Liabilities** | **$9,536.3** | **$8,099.9** | | **Total Equity** | **$9,030.6** | **$8,395.8** | [Condensed Consolidated Statements of Income](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) Q2 2024 **net sales** grew **18%** to **$3.61 billion**, with **net income** at **$524.8 million** and **diluted EPS** of **$0.41**, reflecting strong year-over-year performance Key Income Statement Data (in millions, except per share data) | Metric | Q2 2024 | Q2 2023 | H1 2024 | H1 2023 | | :--- | :--- | :--- | :--- | :--- | | Net sales | $3,609.7 | $3,053.9 | $6,866.0 | $6,028.0 | | Gross profit | $1,213.1 | $991.7 | $2,302.1 | $1,935.1 | | Operating income | $698.8 | $619.9 | $1,383.7 | $1,211.6 | | Net income attributable to Amphenol | $524.8 | $460.5 | $1,073.5 | $899.7 | | Diluted EPS | $0.41 | $0.37 | $0.85 | $0.73 | [Condensed Consolidated Statements of Cash Flow](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flow) H1 2024 **operating cash flow** increased to **$1.26 billion**, with **$2.20 billion** used for **acquisitions**, primarily funded by new debt issuance Cash Flow Summary for Six Months Ended June 30 (in millions) | Activity | 2024 | 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $1,263.6 | $1,068.8 | | Net cash used in investing activities | $(2,195.7) | $(375.1) | | Net cash provided by (used in) financing activities | $743.4 | $(704.0) | | **Net decrease in cash and cash equivalents** | **$(222.5)** | **$(48.0)** | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail a two-for-one **stock split**, **$1.5 billion** in new **senior notes** funding **$2.1 billion** in **acquisitions**, plus a new **$2.1 billion** acquisition agreement - A two-for-one **stock split** was approved on May 20, 2024, and became effective on June 12, 2024 All share and per-share data in the report have been retroactively adjusted to reflect this split[21](index=21&type=chunk)[22](index=22&type=chunk) - In April 2024, the company issued three series of new **senior notes** totaling **$1.5 billion** to help fund the CIT **acquisition** It also repaid **$350 million** of **3.20% Senior Notes** upon maturity[35](index=35&type=chunk)[37](index=37&type=chunk)[38](index=38&type=chunk) - The company completed two **acquisitions** for ~**$2.1 billion** in H1 2024, including the significant **acquisition** of Carlisle Interconnect Technologies (CIT) for ~**$2.0 billion** on May 21, 2024 This resulted in **$70.0 million** of **acquisition**-related expenses in Q2 2024[89](index=89&type=chunk)[90](index=90&type=chunk)[92](index=92&type=chunk) - On July 18, 2024, the company entered into an agreement to acquire CommScope's Mobile Networks Business for approximately **$2.1 billion** in cash, with the transaction expected to close in the first half of 2025[118](index=118&type=chunk) - A new **$2.0 billion stock repurchase program** was authorized in April 2024 The quarterly **dividend** was increased from **$0.11** to **$0.165** per share, effective Q3 2024[63](index=63&type=chunk)[66](index=66&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=40&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses strong Q2 2024 performance, with **net sales** up **18%** to **$3.6 billion** and **adjusted operating margin** at **21.3%**, highlighting robust **liquidity** and significant **acquisition** activity [Results of Operations](index=45&type=section&id=Results%20of%20Operations) Q2 2024 **net sales** grew **18%** to **$3.61 billion** (11% organically), driven by Communications Solutions and IT datacom/defense, with **adjusted operating margin** expanding to **21.3%** Net Sales Growth vs. Prior Year Period (Q2 2024) | Segment | Net Sales Growth (GAAP) | Constant Currency Growth | Organic Growth | | :--- | :--- | :--- | :--- | | Harsh Environment Solutions | 18% | 18% | 1% | | Communications Solutions | 24% | 25% | 23% | | Interconnect and Sensor Systems | 12% | 13% | 7% | | **Consolidated** | **18%** | **19%** | **11%** | - End market growth was driven by strong organic performance in IT datacom and defense, and moderate growth in commercial aerospace, mobile devices, mobile networks, and automotive markets[133](index=133&type=chunk) Reconciliation of GAAP to Adjusted (Non-GAAP) Results for Q2 2024 | Metric | Reported (GAAP) | Adjusted (Non-GAAP) | | :--- | :--- | :--- | | Operating Income | $698.8M | $768.8M | | Operating Margin | 19.4% | 21.3% | | Net Income | $524.8M | $553.8M | | Diluted EPS | $0.41 | $0.44 | [Liquidity and Capital Resources](index=53&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintained strong **liquidity** and generated **$1.26 billion** **operating cash flow** and **$1.03 billion** **free cash flow** in H1 2024, primarily funding **acquisitions** and shareholder returns - Primary sources of **liquidity** are cash from **operations**, cash on hand, and availability under its **$3.0B Revolving Credit Facility** and **Commercial Paper Programs**[158](index=158&type=chunk)[175](index=175&type=chunk) Free Cash Flow for Six Months Ended June 30 (in millions) | Metric | 2024 | 2023 | | :--- | :--- | :--- | | Operating Cash Flow (GAAP) | $1,263.6 | $1,068.8 | | Capital expenditures (net of disposals) | $(230.2) | $(191.5) | | **Free Cash Flow (Non-GAAP)** | **$1,033.4** | **$877.3** | - In H1 2024, the company used cash for **acquisitions** (**$2.1B**), **stock repurchases** (**$344.2M**), and **dividends** (**$263.8M**) This was partly funded by issuing **$1.5B** in new **senior notes**[170](index=170&type=chunk)[172](index=172&type=chunk)[180](index=180&type=chunk) - A new **$2.0 billion stock repurchase program** was authorized in April 2024, replacing the expiring 2021 program[184](index=184&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=68&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary **market risks** relate to **foreign currency exchange rates** and **interest rate** fluctuations, managed through a mix of **fixed** and **variable rate debt** - The company is exposed to **market risks** from **foreign currency exchange rates** and changes in **interest rates**[201](index=201&type=chunk) - **Interest rate** risk is managed with a mix of **fixed-rate senior notes** and **variable-rate debt facilities** The company is exposed to higher **interest costs** on its **variable-rate debt** (**Commercial Paper Programs**, **Revolving Credit Facility**) due to recent increases in the federal funds rate[204](index=204&type=chunk) [Item 4. Controls and Procedures](index=69&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including CEO and CFO, concluded the company's **disclosure controls and procedures** were effective as of June 30, 2024, with no material changes in **internal control over financial reporting** - Management, including the CEO and CFO, concluded that the company's **disclosure controls and procedures** were effective as of the end of the period covered by the report[205](index=205&type=chunk) - No change in **internal control over financial reporting** occurred during the most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, **internal controls**[206](index=206&type=chunk) Part II - Other Information [Item 1. Legal Proceedings](index=70&type=section&id=Item%201.%20Legal%20Proceedings) The company is party to normal course **legal actions** but does not expect them to have a material adverse effect on its financial condition, results of operations, or cash flows - The company does not expect any existing **legal or regulatory action** to have a material adverse effect on its financial condition, results of operations or cash flows[116](index=116&type=chunk)[207](index=207&type=chunk) [Item 1A. Risk Factors](index=70&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the company's **risk factors** as disclosed in its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 - There have been no material changes to the Company's **risk factors** from the 2023 Annual Report on Form 10-K[208](index=208&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=70&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) A new **$2.0 billion stock repurchase program** was authorized in April 2024, with **3.1 million shares** repurchased for **$190.4 million** in Q2 2024 - A new **$2.0 billion stock repurchase program** was authorized by the Board on April 23, 2024, effective through April 28, 2027[209](index=209&type=chunk) Stock Repurchases for Q2 2024 (in millions, except per share data) | Period | Total Shares Purchased | Average Price Paid per Share | Total Cost | | :--- | :--- | :--- | :--- | | April 2024 | 1.26 | $57.07 | $71.8 | | May 2024 | 1.06 | $64.37 | $68.4 | | June 2024 | 0.75 | $67.12 | $50.2 | | **Total Q2** | **3.07** | **$62.05** | **$190.4** | [Item 3. Defaults Upon Senior Securities](index=71&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon **senior securities** during the period - None[212](index=212&type=chunk) [Item 5. Other Information](index=71&type=section&id=Item%205.%20Other%20Information) No director or officer adopted or terminated a **Rule 10b5-1** or non-**Rule 10b5-1 trading arrangement** during Q2 2024 - No director or officer of the Company adopted or terminated a "**Rule 10b5-1 trading arrangement**" or "**non-Rule 10b5-1 trading arrangement**" during the three months ended June 30, 2024[213](index=213&type=chunk) [Item 6. Exhibits](index=72&type=section&id=Item%206.%20Exhibits) This section lists all **exhibits** filed with the Form 10-Q, including corporate governance documents, debt agreements, employee benefit plans, and required certifications

Amphenol Corporation (NYSE:APH) Q2 2024 Earnings Conference Call July 24, 2024 1:00 PM ET Company Participants Craig Lampo - Chief Financial Officer Adam Norwitt - Chief Executive Officer Conference Call Participants Wamsi Mohan - Bank of America Amit Daryanani - Evercore Samik Chatterjee - JPMorgan Luke Junk - Baird Asiya Merchant - Citigroup Joe Spak - UBS Guy Hardwick - Freedom Capital Markets Scott Graham - Seaport Research Andrew Buscaglia - BNP Paribas Mark Delaney - Goldman Sachs Will Stein - Truist ...

Amphenol’s (APH) second-quarter 2024 adjusted earnings of 43 cents per share beat the Zacks Consensus Estimate by 4.88%. The earnings figure increased 19.4% year over year.Net sales increased 18.2% year over year to $3.61 billion and beat the consensus mark by 7.02%. Organically, net sales increased 11%.The top line benefited from higher revenues across the IT datacom, defense, commercial air, mobile devices, mobile networks and automotive end-markets.Quarterly DetailsHarsh Environment Solutions’ (29% of ne ...

Amphenol (APH) reported $3.61 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 18.2%. EPS of $0.43 for the same period compares to $0.36 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $3.37 billion, representing a surprise of +7.01%. The company delivered an EPS surprise of +4.88%, with the consensus EPS estimate being $0.41.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ex ...

Amphenol (APH) came out with quarterly earnings of $0.43 per share, beating the Zacks Consensus Estimate of $0.41 per share. This compares to earnings of $0.36 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.88%. A quarter ago, it was expected that this maker of fiber-optic products would post earnings of $0.37 per share when it actually produced earnings of $0.40, delivering a surprise of 8.11%.Over the last four quarters, ...

Exhibit 99.1 Amphenol News Release Second Quarter 2024 Highlights: Increase in Quarterly Dividend World Headquarters 358 Hall Avenue Wallingford, CT 06492 Telephone (203) 265-8900 ● Record sales of $3.61 billion, up 18% in U.S. dollars and 11% organically compared to the second quarter of 2023 ● GAAP Diluted EPS of $0.41, up 11% compared to prior year ● Record Adjusted Diluted EPS of $0.44, up 22% compared to prior year ● GAAP and record Adjusted Operating Margin of 19.4% and 21.3%, respectively ● Operating ...

Technology stocks’ upcoming results are anticipated to reflect the benefits of the growing proliferation of generative AI technology. Rising demand for generative AI chips required in Large Language Models, which is the base of this technology, is expected to have continued benefiting the electronics and semiconductor companies this earnings season.Increasing adoption of Machine Learning, Augmented Reality/Virtual Reality devices, quantum computing, and cloud computing is expected to have aided the performa ...

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Amphenol (APH) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.Amphenol is a member of the Computer and Technology sector. This group includes 618 individual stocks and currently holds a Zacks ...

Many great stocks get little attention and fly under the radars of investors. This situation is partly due to a lack of media attention and news coverage of great companies that, for the most part, are quietly going about their business. Another factor is that there are stocks that Wall Street pros don’t want you to know they’ve discovered.Protective and territorial, many hedge fund managers, traders and other whales on Wall Street jealously guard the stocks they are quietly amassing big positions in. The m ...