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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
Amphenol Corporation reported strong fourth quarter 2022 results with sales of $3.239 billion, a 7% increase year-over-year. GAAP EPS rose 14% to $0.82, while Adjusted EPS increased 11% to $0.78. For the full year, sales hit a record $12.623 billion, growing 16%, driven by robust performances across various sectors. The company announced the acquisition of CMR and plans to acquire RFS's cable and antenna businesses. Despite economic uncertainties, Amphenol expects first quarter 2023 sales between $2.840 billion and $2.900 billion, reflecting a potential 2% to 4% decline compared to the previous year.
Amphenol Corporation (NYSE: APH) has appointed Dr. Prahlad Singh to its board of directors, expanding the board to 10 members. Dr. Singh, who is currently the President and CEO of PerkinElmer (NYSE: PKI), boasts over 25 years of global leadership experience in the healthcare and technology sectors. His background includes senior roles in major companies such as GE Healthcare and Philips Healthcare. The board views his extensive expertise in technology and mergers as valuable for Amphenol's growth strategy.
Amphenol Corporation (NYSE: APH) reported record sales of $3.295 billion for Q3 2022, marking a 17% increase year-over-year. The company achieved a GAAP EPS of $0.80, up 19%, with an Adjusted Operating Margin of 21.0%. Amphenol announced a 5% increase in its quarterly dividend to $0.21, payable January 11, 2023. The acquisition of Integrated Cable Assembly Holdings, Inc. was completed, enhancing the company’s offerings in the industrial market. For Q4 2022, projected sales are $3.090 billion to $3.150 billion, anticipating continued growth despite economic challenges.
Amphenol Corporation (NYSE: APH) announced a third quarter 2022 dividend of $0.20 per share. The dividend, approved by the Board of Directors on August 3, 2022, will be paid on October 12, 2022 to shareholders of record as of September 20, 2022. This move reflects the company's consistent commitment to returning value to shareholders. Amphenol is a global leader in designing and manufacturing various connector systems and has a diversified presence across high-growth interconnect markets.
Amphenol Corporation reported a record second quarter 2022 with sales of $3.137 billion, an 18% increase compared to the previous year. GAAP diluted EPS rose 29% to $0.76, while Adjusted Diluted EPS increased 23% to $0.75. The operating margin stood at 20.7%, with operating cash flow at $543 million. Amphenol returned $305 million to shareholders through dividends and buybacks, and acquired NPI Solutions, Inc., enhancing its industrial capabilities. For Q3 2022, sales are projected between $3.040 billion and $3.100 billion, indicating 8%-10% growth.
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