Investment Rating - The report does not explicitly mention the investment rating for Amphenol (APH) [1][2][3] Core Views - Amphenol's FY24Q3 revenue reached $4 04 billion (YoY +26% QoQ +12%) exceeding the upper end of the previous guidance of $3 8 billion [1][5] - Net income attributable to Amphenol was $604 4 million (YoY +17 61% QoQ +15 71%) with adjusted diluted EPS of $0 48 (YoY +17%) surpassing the guidance of $0 45 [1][5] - Adjusted operating margin hit a record high of 21 9% [1][5] - Orders in Q3 reached a record $4 412 billion (YoY +39% QoQ +9%) with a book-to-bill ratio of 1 09:1 driven by strong IT datacom market performance [1][7] - AI-related products accounted for more than half of the YoY growth in the IT datacom market [1][12] Revenue Breakdown by Segment - Harsh Environment Solutions: $1 194 billion (YoY +35%) [10][11] - Communications Solutions: $1 686 billion (YoY +32%) [10][11] - Interconnect and Sensor Systems: $1 16 billion (YoY +12%) [10][11] AI-Related Business - AI-related products contributed significantly to the growth in the IT datacom market accounting for more than half of the YoY and QoQ growth [12] - The company provides industry-leading high-speed products with the highest operating speeds and lowest latency along with efficient power interconnect products for high-power consumption chips [12] Q4 2024 Guidance - Q4 2024 revenue is expected to be between $3 95 billion and $4 05 billion (YoY +19% to +22%) [13] - Adjusted diluted EPS for Q4 is projected to be $0 48 to $0 50 (YoY +17% to +22%) [13] - Full-year 2024 revenue is expected to be between $14 855 billion and $14 955 billion (YoY +18% to +19%) with adjusted diluted EPS of $1 82 to $1 84 (YoY +21% to +22%) [13] Key Financial Metrics - Operating cash flow in Q3 was $704 million representing 117% of net income [16] - Free cash flow was $476 million representing 79% of net income [16] - The company repurchased 2 7 million shares at an average price of $65 per share returning $308 million to shareholders in Q3 [16] - Total debt at the end of Q3 was $5 5 billion with net debt of $3 9 billion and total liquidity of $4 6 billion [16]

Have you assessed how the international operations of Amphenol (APH) performed in the quarter ended September 2024? For this maker of fiber-optic products, possessing an expansive global footprint, parsing the trends of international revenues could be critical to gauge its financial resilience and growth prospects. 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 grow ...

Net Sales Growth - Net sales in Q3 2024 increased by 26% to $4,038.8 million compared to $3,199.2 million in Q3 2023, driven by strong organic growth in the Communications Solutions segment and moderate growth in the Interconnect and Sensor Systems and Harsh Environment Solutions segments[114] - Net sales for the first nine months of 2024 increased by 18% to $10,904.9 million compared to $9,227.2 million in the same period of 2023, with strong organic growth in the IT datacom, defense, and commercial aerospace markets[115] - Harsh Environment Solutions segment net sales in Q3 2024 increased by 35% in U.S. dollars and 3% organically, driven by contributions from acquisitions and strong growth in IT datacom, commercial aerospace, and mobile networks markets[116] - Communications Solutions segment experienced strong organic growth in Q3 2024, contributing significantly to the overall net sales increase[114] - Organic net sales growth in Q3 2024 was 15%, excluding currency and acquisition impacts[114] - Organic net sales growth for the first nine months of 2024 was 11%, excluding currency and acquisition impacts[115] - The IT datacom, mobile devices, and commercial aerospace markets showed strong organic growth in Q3 2024[114] - The defense market experienced moderate growth in Q3 2024, contributing to the overall increase in net sales[114] - Communications Solutions segment net sales increased 32% in Q3 2024 compared to Q3 2023, driven by strong organic growth in IT datacom, mobile devices, automotive, industrial, and mobile networks markets[117] - Interconnect and Sensor Systems segment net sales increased 12% in Q3 2024 compared to Q3 2023, primarily driven by contributions from acquisitions and strong organic growth in the IT datacom market[118] - Consolidated net sales for Q3 2024 were $4,038.8 million, a 26% increase compared to Q3 2023, with organic net sales growth of 15%[120] - Foreign net sales for Q3 2024 were $2,627.1 million, a 27% increase compared to Q3 2023, with organic net sales growth of 22%[120] Segment Performance - The Harsh Environment Solutions segment accounted for approximately 29% of total net sales in Q3 2024[116] - Communications Solutions segment operating income for Q3 2024 was $431.0 million, or 25.6% of net sales, compared to $283.3 million, or 22.1% of net sales, for Q3 2023[126] - Harsh Environment Solutions segment operating income for Q3 2024 was $283.7 million, or 23.8% of net sales, compared to $239.1 million, or 26.9% of net sales, for Q3 2023[125] - Operating income for the Interconnect and Sensor Systems segment in Q3 2024 was $217.6 million, or 18.8% of net sales, compared to $188.9 million, or 18.3% of net sales, in Q3 2023[127] Financial Performance - Selling, general and administrative expenses were $492.0 million, or 12.2% of net sales, for Q3 2024, compared to $381.6 million, or 11.9% of net sales, for Q3 2023[123] - Operating income for Q3 2024 was $819.5 million, or 20.3% of net sales, compared to $657.9 million, or 20.6% of net sales, for Q3 2023[124] - Adjusted Operating Income for Q3 2024 was $883.1 million, or 21.9% of net sales, compared to $666.9 million, or 20.8% of net sales, for Q3 2023[124] - Interest expense for Q3 2024 was $55.7 million, up from $33.6 million in Q3 2023, driven by higher borrowing levels and interest rates[128] - Effective tax rate for Q3 2024 was 21.4%, compared to 18.2% in Q3 2023, impacted by stock option exercises and acquisition-related expenses[129] - Net income attributable to Amphenol Corporation for Q3 2024 was $604.4 million, with Diluted EPS of $0.48, up from $513.9 million and $0.41 in Q3 2023[130] - Adjusted Operating Income for Q3 2024 was $883.1 million, with an Adjusted Operating Margin of 21.9%, compared to $666.9 million and 20.8% in Q3 2023[131] - Adjusted Net Income attributable to Amphenol Corporation for the first nine months of 2024 was $1,686.9 million, with Adjusted Diluted EPS of $1.34, up from $1,357.1 million and $1.09 in the same period of 2023[132] Cash Flow and Working Capital - As of September 30, 2024, the company had cash, cash equivalents, and short-term investments of $1,583.3 million, down from $1,660.2 million at the end of 2023[133] - Net cash provided by operating activities for the first nine months of 2024 was $1,967.6 million, up from $1,686.9 million in the same period of 2023[138] - Working capital components increased by $197.6 million in the first nine months of 2024, driven by higher accounts receivable, inventories, and prepaid expenses[139] - Accounts receivable increased by $511.9 million to $3,130.3 million, driven by higher sales in Q3 2024 and the impact of 2024 Acquisitions[140] - Inventories increased by $411.7 million to $2,578.8 million, primarily due to the 2024 Acquisitions and higher sales in Q3 2024[140] - Free Cash Flow increased to $1,509.1 million for the nine months ended September 30, 2024, up from $1,421.2 million in the same period in 2023[141] - Net cash used in investing activities was $2,398.2 million in the first nine months of 2024, driven by $2,099.8 million for acquisitions and $458.5 million in capital expenditures[143] - Net cash provided by financing activities was $515.8 million in the first nine months of 2024, primarily due to $1,500.1 million in net cash proceeds from borrowings[145] - Days sales outstanding decreased to 69 days at September 30, 2024, compared to 70 days at December 31, 2023[140] - Inventory days increased to 87 days at September 30, 2024, compared to 85 days at December 31, 2023[140] Acquisitions and Investments - The company's acquisition program played a key role in driving net sales growth across all segments in both Q3 and the first nine months of 2024[114][115][116] - The company completed two acquisitions in 2024, including CIT, for approximately $2,099.8 million, net of cash acquired[161] - The CIT acquisition was completed for approximately $1,995.3 million, net of cash acquired, and was funded through a combination of net proceeds from the New Senior Notes, borrowings under the U.S. Commercial Paper Program, and cash on hand[162] - The company entered into a Purchase Agreement to acquire CommScope's Mobile Networks Business for approximately $2,100 million, expected to close in Q1 2025[166] - The company incurred $63.6 million in acquisition-related expenses in Q3 2024 and $133.6 million in the first nine months of 2024, primarily due to the CIT acquisition[164] - The company completed 10 acquisitions in 2023 for approximately $970.4 million, net of cash acquired, with one acquisition resulting in a non-cash gain of $5.4 million[163] Debt and Financing - The Company increased its Revolving Credit Facility by $500.0 million to $3,000.0 million, maturing in March 2029[147] - The Company issued $1,500.0 million in New Senior Notes in April 2024, including $450.0 million due in 2027, $450.0 million due in 2029, and $600.0 million due in 2034[153] - The Company repaid $350.0 million in 3.20% Senior Notes upon maturity in April 2024[154] - The company's Euro Notes have an aggregate principal amount of €500.0 million each, with one series maturing in May 2026 and the other in October 2028[155] - The company manages interest rate risk through a mix of fixed and variable rate debt, with recent fixed-rate senior notes issued in April 2024[176] - As of September 30, 2024, the company had no borrowings outstanding under the Revolving Credit Facility, U.S. Commercial Paper Program, and Euro Commercial Paper Program[176] - The company borrowed under the U.S. Commercial Paper Program in the first nine months of 2024, partially funding the acquisition of Carlisle Interconnect Technologies (CIT) in May 2024[176] - The U.S. Federal Reserve lowered the federal funds rate modestly in September 2024, potentially reducing future interest expenses if the company borrows under floating rate instruments[176] - The company is exposed to foreign currency exchange rate risk, particularly with borrowings under the Euro Commercial Paper Program and Revolving Credit Facility denominated in various foreign currencies[175] - The company does not expect changes in interest rates to have a material effect on income or cash flows for the remainder of 2024[176] Share Repurchases and Dividends - The company repurchased 2.7 million shares for $176.2 million in Q3 2024 and 4.5 million shares for $294.8 million in the first nine months of 2024 under the 2024 Stock Repurchase Program[157] - The company has remaining authorization to repurchase up to $1,669.4 million of its Common Stock under the 2024 Stock Repurchase Program as of October 23, 2024[157] - The company repurchased 4.1 million shares for $225.6 million under the 2021 Stock Repurchase Program in the first nine months of 2024, which were the final repurchases under this program[158] - The company declared quarterly dividends of $0.165 per share in Q3 2024, an increase from $0.105 per share in Q3 2023[159][160] Internal Controls and Risk Management - The company's disclosure controls and procedures were effective as of the end of the reporting period, ensuring timely and accurate financial reporting[177] - There has been no material change in the company's internal control over financial reporting during the most recent fiscal quarter[178] Currency and Interest Rate Impact - The weaker U.S. dollar in Q3 2024 increased sales by approximately $9.2 million compared to Q3 2023[122]

Amphenol’s (APH) third-quarter 2024 Communications Solutions revenues of $1.69 billion beat the Zacks Consensus Estimate by 13.51%. Communications Solutions revenues surged 31.8% year over year, accounting for 41.7% of sales in the reported quarter.In the reported quarter, Amphenol’s adjusted earnings of 50 cents per share beat the Zacks Consensus Estimate by 11.11%. The earnings figure increased 28.2% year over year.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Net sales increased ...

Financial Data and Key Metrics - Record sales of $4.39 billion in Q3 2024, up 26% YoY in USD and 15% organically [3] - Record GAAP and adjusted diluted EPS of $0.48 and $0.50, respectively, up 17% and 28% YoY [3][5] - Record orders of $4.412 billion, up 39% YoY, with a strong book-to-bill ratio of 1.09:1 [3] - GAAP operating income of $819 million, with adjusted operating income of $883 million and a record adjusted operating margin of 21.9% [3] - Operating cash flow of $704 million (117% of net income) and free cash flow of $476 million (79% of net income) [6] - Net leverage ratio of 1.0x at the end of Q3 2024 [7] Segment Performance - **Harsh Environment Solutions**: Sales of $1.194 billion, up 35% YoY in USD and 3% organically, with a segment operating margin of 23.8% [4] - **Communications Solutions**: Sales of $1.685 billion, up 32% YoY in USD and 30% organically, with a segment operating margin of 25.6% [5] - **Interconnect and Sensor Systems**: Sales of $1.160 billion, up 12% YoY in USD and 6% organically, with a segment operating margin of 18.8% [5] Market Performance - **Defense Market**: 11% of sales, up 16% YoY in USD and 8% organically, driven by growth in space, aircraft, avionics, and ground vehicle applications [12] - **Commercial Air Market**: 6% of sales, up 123% YoY in USD and 12% organically, benefiting from the CIT acquisition and next-gen aircraft content [14] - **Industrial Market**: 23% of sales, up 24% YoY in USD, flat organically, with growth in alternative energy and medical offset by declines in factory automation and oil & gas [16] - **Automotive Market**: 19% of sales, up 4% YoY in USD, flat organically, with growth in North America and Asia offset by declines in Europe [17] - **Mobile Devices Market**: 10% of sales, up 18% YoY in USD and 17% organically, driven by broad-based strength across applications [19] - **Mobile Networks Market**: 3% of sales, up 22% YoY in USD and 19% organically, with recovery in demand from operators and equipment manufacturers [20] - **IT Datacom Market**: 25% of sales, up 60% YoY in USD and 59% organically, driven by AI applications and base IT datacom growth [21] - **Broadband Market**: 3% of sales, down 15% YoY in USD and 14% organically, with continued moderation in procurement levels [23] Strategic Direction and Industry Competition - The company closed the acquisition of Lutze Europe, strengthening its position in the industrial market [10] - Pending acquisition of Andrew businesses from CommScope expected to close in Q1 2025, enhancing the company's position in mobile networks [11] - Continued focus on high-speed, low-latency, and power-efficient interconnect products, particularly in AI and IT datacom markets [22][39] - Diversified end-market exposure reduces volatility and creates long-term growth opportunities [11] Management Commentary on Operating Environment and Future Outlook - Management highlighted strong execution and outperformance in a dynamic environment, with record sales and margins [8][9] - The company expects Q4 2024 sales of $3.950 billion to $4.50 billion and adjusted diluted EPS of $0.48 to $0.50, representing YoY growth of 19% to 22% in sales and 17% to 22% in EPS [24] - Full-year 2024 sales are expected to be $14.855 billion to $14.955 billion, with adjusted diluted EPS of $1.82 to $1.84, representing YoY growth of 18% to 19% in sales and 21% to 22% in EPS [24] Other Important Information - The company repurchased 2.7 million shares at an average price of $65, returning $308 million to shareholders in Q3 2024 [6] - Total debt stood at $5.5 billion, with net debt of $3.9 billion and total liquidity of $4.6 billion at the end of Q3 2024 [7] Q&A Session Summary Question: AI vs Non-AI Growth in IT Datacom - AI-related products accounted for more than half of the YoY growth in IT datacom, with strong underlying IT datacom demand also contributing [27][28] Question: Automotive Market Dynamics - The company continues to outperform in the automotive market, driven by content growth in electrified drivetrains and next-gen electronics, despite challenges in Europe [30][33] Question: AI Customer Base and Revenue Breakdown - The company serves a broad customer base in AI, including hyperscalers, OEMs, and chip companies, with a focus on high-speed and power-efficient interconnect products [36][39] Question: Content Growth in Next-Gen IT Systems - The company sees significant content growth in next-gen IT systems, driven by the need for high-speed, low-latency interconnect solutions, with opportunities in both copper and fiber [42][46] Question: CapEx Outlook - Elevated CapEx levels are expected to continue in Q4 2024 to support growth in IT datacom and defense markets, with a long-term target of 3% to 4% of sales [48] Question: Aerospace Guidance and Industrial Green Shoots - Aerospace guidance incorporates all known factors, including strikes, while industrial growth in North America and Asia is offset by slower demand in Europe [51][52] Question: Margin Strength and CIT Integration - Record margins were driven by strong execution, with CIT still on its journey to reach company-average margins [54][56] Question: Mobile Devices Market Growth - High single-digit growth in mobile devices is driven by content expansion and innovation, with the company guiding for robust levels in Q4 [59][62] Question: Organic Orders and Vertical Strength - The company does not break out organic orders but highlights strong book-to-bill ratios across all segments, particularly in IT datacom and defense [63] Question: Order Visibility and Fulfillment Timeline - Orders are typically fulfilled within a couple of quarters, with some extending to three quarters, particularly in IT datacom and defense [65][67] Question: Employee Motivation and Market Cycles - The company's entrepreneurial culture focuses on agility and reactivity, enabling it to navigate market cycles and capitalize on growth opportunities [69][74]

Amphenol’s (APH) third-quarter 2024 adjusted earnings of 50 cents per share beat the Zacks Consensus Estimate by 11.11%. The earnings figure increased 28.2% year over year.Amphenol’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, which is commendable.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Net sales increased 26.2% year over year to $4.04 billion and beat the consensus mark by 7.11%. Organically, net sales increased 15%.Amphenol offered encouragi ...

For the quarter ended September 2024, Amphenol (APH) reported revenue of $4.04 billion, up 26.2% over the same period last year. EPS came in at $0.50, compared to $0.39 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $3.77 billion, representing a surprise of +7.11%. The company delivered an EPS surprise of +11.11%, with the consensus EPS estimate being $0.45.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how th ...

Amphenol (APH) came out with quarterly earnings of $0.50 per share, beating the Zacks Consensus Estimate of $0.45 per share. This compares to earnings of $0.39 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.11%. A quarter ago, it was expected that this maker of fiber-optic products would post earnings of $0.41 per share when it actually produced earnings of $0.43, delivering a surprise of 4.88%.Over the last four quarters, ...

Exhibit 99.1 Amphenol News Release World Headquarters 358 Hall Avenue Wallingford, CT 06492 Telephone (203) 265-8900 AMPHENOL REPORTS RECORD THIRD QUARTER 2024 RESULTS Third Quarter 2024 Highlights: ● Record sales of $4.04 billion, up 26% in U.S. dollars and 15% organically compared to the third quarter of 2023 ● Record GAAP Diluted EPS of $0.48, up 17% compared to prior year ● Record Adjusted Diluted EPS of $0.50, up 28% compared to prior year ● GAAP and record Adjusted Operating Margin of 20.3% and 21.9%, ...

Amphenol (APH) is set to report its third-quarter 2024 results on Oct 23. The company expects third-quarter 2024 earnings between 43 cents and 45 cents per share, indicating growth of 10%-15% year over year. Revenues are anticipated to be between $3.7 billion and $3.8 billion. The Zacks Consensus Estimate for third-quarter earnings has been steady at 45 cents per share over the past 30 days, suggesting 15.38% growth from the figure reported in the year-ago quarter. Stay up-to-date with all quarterly release ...