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Dec 31, 2023
Amphenol Q4 2023 Earnings Report
Amphenol's Q4 2023 results were reported, with sales and adjusted diluted EPS exceeding guidance. Sales increased driven by growth in commercial air, defense, automotive, and IT datacom markets, along with contributions from acquisitions. Strong profitability was realized despite moderating demand in communications-related markets.
Key Takeaways
Amphenol reported record fourth-quarter sales of $3.33 billion, a 3% increase year-over-year, and GAAP diluted EPS of $0.83, up 1%. Adjusted diluted EPS reached a record $0.82, a 5% increase. The company also reported record operating and free cash flow of $842 million and $739 million, respectively. Amphenol completed four acquisitions during the quarter.
Record sales of $3.33 billion, up 3% in U.S. dollars
GAAP Diluted EPS of $0.83, up 1% compared to prior year
Record Adjusted Diluted EPS of $0.82, up 5% compared to prior year
Record Operating and Free Cash Flow of $842 million and $739 million, respectively
Amphenol
Amphenol
Amphenol Revenue by Segment
Revenue by Segment
Harsh Environment Solutions Revenue
CapyFin.comCommunications Solutions Revenue
CapyFin.comInterconnect & Sensor Systems Revenue
CapyFin.com Forward Guidance
For the first quarter of 2024, Amphenol anticipates sales to be in the range of $3.04 billion to $3.10 billion, representing a 2% to 4% increase over the prior year quarter. Adjusted Diluted EPS is expected to be in the range of $0.71 to $0.73, a 3% to 6% increase from the first quarter of 2023.
Positive Outlook
- Sales to be in the range of $3.04 billion to $3.10 billion.
- Represents a 2% to 4% increase over the prior year quarter.
- Adjusted Diluted EPS is expected to be in the range of $0.71 to $0.73.
- Represents a 3% to 6% increase from the first quarter of 2023.
- Revolution in electronics has continued to accelerate, with new innovations creating exciting growth opportunities for Amphenol across each of our diversified end markets.
Challenges Ahead
- Guidance assumes the continuation of current market conditions.
- Guidance assumes constant exchange rates.
- Uncertainties associated with an economic slowdown or recession in any of the Company’s end markets that could negatively affect the financial condition of our customers and could result in reduced demand
- Risks and impacts associated with adverse public health developments, including epidemics and pandemics
- Risks associated with our inability to obtain certain raw materials and components, as well as the increasing cost of certain of the Company’s raw materials and components
Revenue & Expenses
Visualization of income flow from segment revenue to net income