Amphenol Q2 2023 Earnings Report
Key Takeaways
Amphenol reported a decrease in sales by 3% compared to the previous year, driven by declines in the IT datacom, mobile networks, and mobile devices markets, which was partially offset by growth in the commercial air, military, and automotive markets. Despite the sales moderation, the team's execution was strong, with Adjusted Operating Margin reaching 20.4%.
Sales of $3.054 billion, down 3% in U.S. dollars and 4% organically compared to the second quarter of 2022
GAAP Diluted EPS of $0.74, down 3% compared to prior year
Adjusted Diluted EPS of $0.72, down 4% compared to prior year
GAAP and Adjusted Operating Margin of 20.3% and 20.4%, respectively
Amphenol
Amphenol
Forward Guidance
For the third quarter of 2023, Amphenol expects sales to be in the range of $3.040 billion to $3.100 billion, representing a 6% to 8% decline over the prior year quarter. Adjusted Diluted EPS is expected to be in the range of $0.72 to $0.74, representing an 8% to 10% reduction from the third quarter of 2022.