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Amphenol Corporation (NYSE: APH) is a global industry leader in the design, manufacture, and marketing of electrical, electronic, and fiber optic connectors, as well as interconnect systems, antennas, sensors, and sensor-based products. Founded in 1932 and headquartered in Wallingford, Connecticut, Amphenol is a Fortune 500 company with over 80,000 employees across 40 countries.
Amphenol products are embedded in a multitude of electronic devices used daily, from mobile phones and automobiles to network equipment and aerospace applications. With operations spanning diverse end markets such as automotive, broadband communications, commercial aerospace, defense, industrial, IT and data communications, mobile devices, and mobile networks, Amphenol holds the second-largest connector market share globally.
In 2023, Amphenol reported record sales of $12.55 billion, and achieved a GAAP Diluted EPS of $3.11, reflecting a 2% increase over the prior year. The company also achieved a record Adjusted Diluted EPS of $3.01. The fourth quarter of 2023 saw record sales of $3.33 billion, a 3% increase year-over-year, with a GAAP Diluted EPS of $0.83. Amphenol's impressive financial performance is complemented by strategic acquisitions, such as TPC Wire & Cable, Airmar Technology Corporation, LID Technologies, and PCTEL, Inc., enhancing its product offerings and market reach.
Looking ahead, Amphenol anticipates first quarter 2024 sales between $3.04 billion and $3.10 billion, with an Adjusted Diluted EPS range of $0.71 to $0.73. Despite global market challenges, Amphenol remains committed to expanding its portfolio of enabling technologies and maintaining its competitive edge through innovation and strategic acquisitions.
In April 2024, Amphenol announced a new three-year, $2 billion stock repurchase program, reflecting its ongoing commitment to returning capital to shareholders. The company's strong financial health, evidenced by $2.53 billion in operating cash flow and $2.16 billion in free cash flow for 2023, supports these initiatives.
Additionally, Amphenol's recent acquisition of Carlisle Interconnect Technologies (CIT) is expected to be accretive to earnings per share in 2024. This acquisition bolsters Amphenol's capabilities in harsh environment interconnect solutions, further strengthening its market position in commercial air, defense, and industrial sectors.
Amphenol's strategic focus on market and geographic diversification, coupled with its robust acquisition strategy, positions it well for sustained growth and long-term shareholder value creation.
Amphenol Corporation (NYSE: APH) reported first quarter 2023 results with sales of $2.974 billion, a 1% increase in U.S. dollars compared to the previous year. The GAAP Diluted EPS was $0.71, up 4%, while the Adjusted Diluted EPS reached $0.69, up 3%. Operating and Free Cash Flow were reported at $532 million and $436 million, respectively. Despite challenges in various markets, including IT datacom and mobile devices, Amphenol's diversified portfolio led to an Adjusted Operating Margin of 20.1%. For Q2 2023, the company expects sales between $2.890 billion and $2.950 billion, indicating a projected 6% to 8% decline from the prior year. Adjusted Diluted EPS for this period is anticipated to drop by 9% to 12% compared to last year.
Amphenol Corporation (NYSE: APH) has announced the pricing of its senior notes offering, totaling $350,000,000 with a 4.750% interest rate, maturing in 2026. The closing of this offering is expected on March 30, 2023, pending standard closing conditions. The proceeds will be utilized to repay existing commercial paper borrowings and for general corporate purposes. The offering is underpinned by an effective shelf registration statement with the Securities and Exchange Commission, and a prospectus supplement will be filed detailing the offering's terms.
Amphenol Corporation (NYSE: APH) has declared a dividend of
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