Amphenol tops Q3 profit and sales estimates as acquisitions add to growth

Amphenol Corporation (APH) said on Oct. 28 that its third-quarter adjusted profit rose to 80 cents per share from 46 cents a year earlier, topping the 73 cents consensus estimate compiled by Finnhub.

Sales were $10.23 billion, up 65% from $6.19 billion a year earlier, and topped the $9.56 billion estimate. Organic sales growth was 37%, according to the company's release.

Amphenol designs and makes connectors, interconnect systems, antennas, sensors and cable at facilities in about 40 countries. Its common stock began trading on a split-adjusted basis on Sept. 3, after a 2-for-1 stock split.

Here's how the company did:

• Adjusted EPS: 80 cents vs. 46 cents a year earlier, compared with the 73 cents consensus estimate, according to Finnhub
• GAAP diluted EPS: 79 cents vs. 49 cents a year earlier
• Revenue: $10.23 billion vs. $6.19 billion a year earlier, compared with the $9.56 billion consensus estimate, according to Finnhub

Adjusted operating margin was 29.7%, and GAAP operating margin was 29.5%. Orders reached $12.2 billion, a book-to-bill ratio of 1.19 to 1. Operating cash flow was $2.1 billion and free cash flow was $1.6 billion.

"We are pleased to have closed the third quarter of 2026 with record sales and Adjusted Diluted EPS, both exceeding the high end of our guidance," said Amphenol Chairman and Chief Executive Officer R. Adam Norwitt.

Norwitt said sales grew "driven by strong organic growth in most of our end markets, including continued exceptional organic growth in the IT datacom market, as well as contributions from the Company's acquisition program."

Revenue has risen in each of the last three quarters, from $6.19 billion in the third quarter of 2025 to $8.76 billion in the second quarter of 2026, according to its SEC filings.

Fourth-quarter and full-year outlook

For the fourth quarter, the company expects sales of $10.3 billion to $10.5 billion and adjusted EPS of 81 cents to 83 cents.

For full-year 2026, it expects sales of $36.9 billion to $37.1 billion and adjusted EPS of $2.82 to $2.84. The outlook excludes three businesses it has agreed to buy but has not yet closed.

The company also raised its CommScope forecast. It now expects the business to generate $5.1 billion in full-year 2026 sales, up from $4.6 billion, and to add 18 cents to 2026 adjusted EPS, up from 15 cents.

Acquisitions

Amphenol closed its acquisition of Empire Electronics at the beginning of September. The company said the business is expected to generate about $320 million in full-year 2026 sales and is included in the Interconnect and Sensor Systems segment.

The company also signed definitive agreements to acquire AdvancedPCB, Dexgreen Limited and the sensor business of Humanetics. The three are expected to generate about $270 million, $90 million and $70 million in full-year 2026 sales, respectively.

AdvancedPCB and Humanetics Sensors are expected to close in the fourth quarter of 2026, and Dexgreen in the first quarter of 2027, all subject to regulatory approvals. The combined purchase price for the four businesses is about $1.6 billion, to be financed with cash on hand and debt.

Capital returns

During the quarter, the company bought back 3.0 million shares for $245 million and paid $308 million in dividends, returning $553 million to shareholders.

Its board approved a 20% increase in the quarterly dividend, to 15 cents per share from 12.5 cents. The dividend is payable Jan. 13, 2027, to holders of record on Dec. 22, 2026.

The board also authorized a new three-year stock repurchase program of up to $4 billion, beginning Jan. 1, 2027. The company expects to complete the remaining repurchases under its existing $2 billion program by Dec. 31, 2026.