Amphenol Corporation Earnings Recaps
Q2 2026
Jul 31, 2026
The stock surged 11.1% as Amphenol delivered substantial beats across sales, margins, and earnings, supported by record bookings and strong operating leverage despite acquisition-related dilution.
Key takeaways
- Record Q2 sales of $8.8 billion, up 55% year-over-year in USD and 30% organically.
- Bookings soared 94% from prior year to $10.7 billion, driving a robust book-to-bill ratio of 1.23.
- Adjusted operating margin expanded 24 basis points year-over-year to 29.8%, reflecting strong operational execution and tariff recovery benefits.
- Adjusted diluted EPS jumped 67% to a record $1.35.
- Operating cash flow was $1.6 billion (88% of net income), with free cash flow at $1.2 billion (68% of net income), underpinning solid cash generation amid rapid growth.
Q1 2026
Apr 30, 2026
Amphenol shares rose 2.5% after first quarter 2026 results, reflecting a broadly in-line market reaction amid record sales, strong order growth, and margin performance, balanced by modest sequential margin dilution and an elevated tax rate. While the results met expectations, investors appear watchful on the impact of recent acquisitions and tax items.
Key takeaways
- Revenue reached a record $7.6 billion, up 58% year-over-year (33% organically) and up 18% sequentially.
- Orders set a new high at $9.435 billion, producing a book-to-bill of 1.24 and positive momentum across all end markets.
- Adjusted operating margin climbed 380 bps year-over-year to 27.3%; however, it slipped 20 bps sequentially due to dilution from the CommScope acquisition.
- Adjusted diluted EPS of $1.06 grew 68% year-over-year; GAAP EPS was $0.72, reflecting significant acquisition-related costs and a higher tax rate.
- The adjusted effective tax rate rose to 27%, following $290 million in accruals related to negative tax developments in China.
Q3 2025
Oct 24, 2025
Amphenol Corporation reported record sales of $6.194 billion in Q3 2025, a 53% increase year-over-year, complemented by a record operating margin of 27.5% and adjusted EPS of $0.93.
Key takeaways
- Record operating income of $1.702 billion, reflecting a substantial 560 basis point year-over-year margin improvement.
- Orders surged to a record $6.111 billion, representing a 38% increase from Q3 2024, achieving a book-to-bill ratio of 0.99 to 1.
- Operating and free cash flow reached $1.471 billion and $1.215 billion respectively, demonstrating strong conversion of earnings into cash.
- Increased quarterly dividend by 52% to $0.25 per share, effective January 2026.
- The company remains on track with plans for an acquisition of Trexan for approximately $1 billion, signaling continued strategic growth.