U.S. Markets open in 1 hr 43 mins
  • S&P Futures

    4,409.75
    +60.75 (+1.40%)
     
  • Dow Futures

    34,552.00
    +367.00 (+1.07%)
     
  • Nasdaq Futures

    14,400.00
    +259.25 (+1.83%)
     
  • Russell 2000 Futures

    2,035.30
    +34.00 (+1.70%)
     
  • Crude Oil

    86.47
    +0.87 (+1.02%)
     
  • Gold

    1,845.30
    -7.20 (-0.39%)
     
  • Silver

    23.93
    +0.03 (+0.14%)
     
  • EUR/USD

    1.1287
    -0.0019 (-0.1693%)
     
  • 10-Yr Bond

    1.7830
    0.0000 (0.00%)
     
  • Vix

    28.84
    -0.01 (-0.03%)
     
  • GBP/USD

    1.3516
    +0.0009 (+0.0703%)
     
  • USD/JPY

    114.1860
    +0.3200 (+0.2810%)
     
  • BTC-USD

    37,869.14
    +1,209.96 (+3.30%)
     
  • CMC Crypto 200

    864.92
    +54.31 (+6.70%)
     
  • FTSE 100

    7,498.61
    +127.15 (+1.72%)
     
  • Nikkei 225

    27,011.33
    -120.01 (-0.44%)
     

Amphenol (APH) Q3 Earnings Beat Estimates, Revenues Rise Y/Y

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • APH
  • CGNX

Amphenol’s APH third-quarter 2021 adjusted earnings of 65 cents per share beat the Zacks Consensus Estimate by 3.2%. The figure increased 18.2% year over year.

Net sales increased 21.3% year over year to $2.82 billion and beat the consensus mark by 4.2%. Organically, net sales increased 13%.

The top line benefited from robust growth in the automotive, industrial, military and broadband end-markets.

Quarterly Details

Interconnect Products and Assemblies’ (95.8% of net sales) sales were up 21.5% from the year-ago quarter to $2.70 billion. Cable Products and Solutions' sales were $119.3 million, up 17.5% year over year.

Amphenol Corporation Price, Consensus and EPS Surprise

Amphenol Corporation Price, Consensus and EPS Surprise
Amphenol Corporation Price, Consensus and EPS Surprise

Amphenol Corporation price-consensus-eps-surprise-chart | Amphenol Corporation Quote

Gross margin, on a GAAP basis, contracted 10 basis points (bps) to 31.6% year over year.

Selling, general and administrative expenses (SG&A) as a percentage of revenues increased 20 bps on a year-over-year basis to 11.3%.

Adjusted operating margin contracted 20 bps on a year-over-year basis to 20.3%.

Balance Sheet

As of Sep 30, 2021, Amphenol had cash and cash equivalents worth $1.30 billion, higher than $1.24 billion as of Jun 30, 2021.

Total debt was $5.25 billion as of Sep 30, 2021.

During the quarter, the company purchased 2.3 million shares for $171 million. Amphenol also paid dividends of $87 million, resulting in total capital returned to shareholders during the third quarter being $258 million.

Amphenol also announced a 38% increase in dividend from 0.145 cents to 20 cents per share.

Guidance

Amphenol expects fourth-quarter 2021 earnings between 61 cents and 63 cents per share, indicating 7% to 11% year-over-year growth. Revenues are anticipated between $2.690 billion and $2.750 billion, indicating 11-13% year-over-year growth.

The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 63 cents, implying 14.6% growth from the figure reported in the year-ago quarter. The consensus mark for revenues stands at $2.70 billion, suggesting 16.4% growth from the year-ago quarter’s reported figure.

For 2021, Amphenol expects earnings between $2.39 and $2.41 per share, indicating 28% to 29% year-over-year growth. Revenues are anticipated between $10.540 billion and $10.600 billion, indicating 28-29% year-over-year growth.

Zacks Rank & Other Stocks to Consider

Currently, Amphenol has a Zacks Rank #2 (Buy).

Similar-ranked stocks are Apple AAPL, Trimble TRMB and Cognex CGNX. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Apple, Trimble and Cognex are set to report their quarterly earnings on Oct 28, Nov 3 and Nov 4.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Apple Inc. (AAPL) : Free Stock Analysis Report

Amphenol Corporation (APH) : Free Stock Analysis Report

Trimble Inc. (TRMB) : Free Stock Analysis Report

Cognex Corporation (CGNX) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research