Amphenol Corporation Q1 2026 Earnings Recap

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.