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Notice: Undefined index: HTTP_ACCEPT_LANGUAGE in /home/stockstowatch/public_html/wp-content/mu-plugins/GrULw0.php on line 4 Amphenol Clocks 18% Revenue Growth In Q2 Backed By End Markets, Acquisition Program – Stocks to Watch
Amphenol CorpAPHreported 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.
