Amphenol Corporation

Latest Results (06.06.2026):

Amphenol Corporation reported record results for the first quarter of 2026, with consolidated net sales of $7.62 billion (up 58% year-over-year, 33% organically), record orders of $9.4 billion (book-to-bill 1.24:1), GAAP diluted EPS of $0.72 (up 24% YoY) and Adjusted diluted EPS of $1.06 (up 68% YoY). The quarter included completion of the CommScope CCS acquisition, strong operating margins, and robust cash generation.

Revenue & Orders

Net sales: $7.620B (+58% vs Q1 2025; +33% organic). Orders: $9.4B, yielding a 1.24:1 book-to-bill — signaling continued demand, notably very strong organic growth in IT/datacom.

Profitability & EPS

Operating income was $1.832B; GAAP operating margin 24.0% and Adjusted operating margin 27.3%. GAAP diluted EPS $0.72 (24% increase); Adjusted diluted EPS $1.06 (68% increase).

Cash Flow, Balance Sheet & M&A

Operating cash flow: $1.122B; Free cash flow: $831M. The company completed the CommScope CCS acquisition (cash paid reflected in ~$10.59B of acquisitions in the quarter), which materially reduced cash from $11.13B at year-end 2025 to $4.13B at March 31, 2026. Long-term debt increased (long-term debt $16.64B plus current portion $2.11B), reflecting acquisition financing.

Capital Return

Share repurchases: 1.3M shares for $178M in Q1; dividends paid $307M. Total capital returned in the quarter ~ $485M.

Non‑GAAP adjustments & tax items

Significant items: amortization of acquisition-related inventory step-up costs $132M; acquisition-related expenses (total impact to EPS disclosed ~$249M). The quarter included discrete tax items of $290M related to China tax matters, increasing the company’s Adjusted effective tax rate to ~27.0%.

Segment performance

Communications Solutions: $4.535B sales, 30.6% operating margin. Harsh Environment Solutions: $1.693B, 28.0% margin. Interconnect & Sensor Systems: $1.392B, 20.2% margin — all segments showed improved margins year-over-year.

Outlook (Q2 2026)

Assuming current conditions and constant FX, Amphenol expects Q2 2026 sales of $8.1–8.2B (+43–45% YoY) and Adjusted diluted EPS of $1.14–1.16 (+41–43% YoY).