Loading...
•
Mar 31, 2021
Amphenol Q1 2021 Earnings Report
Amphenol's first quarter results for 2021 were reported, marked by sales growth, EPS increase, and strategic acquisitions.
Key Takeaways
Amphenol reported a strong first quarter in 2021, with sales up 28% and GAAP diluted EPS up 33%. The company closed several acquisitions and announced a new stock repurchase program, demonstrating a commitment to increasing shareholder value.
Sales increased by 28% to $2.377 billion, with organic growth of 23% compared to Q1 2020.
GAAP diluted EPS rose by 33% to $0.53, while Adjusted Diluted EPS increased by 49% to $0.52.
The company closed acquisitions of Euromicron, Cabelcon and MTS Systems Corporation during the quarter.
A new three-year, $2 billion open market stock repurchase program was announced.
Amphenol
Amphenol
Forward Guidance
For the second quarter of 2021, Amphenol anticipates sales between $2.415 billion and $2.475 billion, representing a 22% to 25% increase year-over-year, and adjusted diluted EPS from continuing operations between $0.53 and $0.55, representing a 33% to 38% increase year-over-year. This guidance excludes costs related to the MTS acquisition.
Positive Outlook
- Sales are expected to be in the range of $2.415 billion to $2.475 billion, representing 22% to 25% growth over the second quarter of 2020.
- Adjusted Diluted EPS from continuing operations is expected to be in the range of $0.53 to $0.55, representing 33% to 38% growth over the second quarter of 2020.
- The electronics revolution continues to create exciting long-term growth opportunities for Amphenol across each of our diversified end markets.
- Customers are driving their products and networks to achieve ever higher levels of performance.
- Actions to leverage competitive advantages and initiatives to expand high-technology product offerings have created an excellent base for the Company’s future performance.
Challenges Ahead
- Guidance assumes no new material disruptions from the COVID-19 pandemic.
- Guidance assumes constant exchange rates.
- Guidance excludes cash and non-cash costs related to the MTS acquisition, which are expected to be approximately $85 million, or $0.12 per diluted share.
- The extent to which the COVID-19 pandemic will continue to impact business and financial results going forward will be dependent on future developments.
- Uncertainties associated with a protracted economic slowdown that could negatively affect the financial condition of our customers.