Amphenol Clocks 18% Revenue Growth In Q2 Backed By End Markets, Acquisition Program

[ad_1]

  • Amphenol Corp APH reported second-quarter FY22 sales growth of 18% year-on-year to $3.14 billion, beating the consensus of $2.94 billion.
  • Margin: The consolidated operating margin was 20.7% versus 17.9% last year.
  • Non-GAAP EPS of $0.75 beat the consensus of $0.68.
  • Amphenol generated $543 million in operating cash flow and held $1.33 billion in cash and equivalents.
  • Amphenol closed on the acquisition of NPI Solutions, Inc. in June. Based in Morgan Hill, California, with annual sales of approximately $65 million, NPI is a manufacturer of cable assemblies, and value-add interconnect assemblies for industrial applications with a particular focus on semiconductor manufacturing equipment. 
  • CEO R. Adam Norwitt said, “Sales increased from prior year by a strong 18%, supported by robust growth across nearly all our end markets, as well as contributions from the Company’s acquisition program which were offset by the impact of the strengthening US dollar.”
  • Outlook: Amphenol sees Q3 sales of $3.04 billion – $3.10 billion, versus the consensus of $3.04 billion.
  • It sees non-GAAP EPS of $0.73 – $0.75, above the consensus of $0.71.
  • Price Action: APH shares traded higher by 3.25% at $71.79 on the last check Wednesday.

[ad_2]

Image and article originally from www.benzinga.com. Read the original article here.