Amphenol Reports Record Third Quarter 2024 Results
October 25, 2024 | BUSINESS WIREEstimated reading time: 2 minutes
Amphenol Corporation reported third quarter 2024 results.
“We are pleased to have closed the third quarter of 2024 with record sales and Adjusted Diluted EPS, both exceeding the high end of our guidance,” said Amphenol President and Chief Executive Officer, R. Adam Norwitt. “Sales increased from prior year by 26%, driven by robust organic growth in the IT datacom, mobile networks, mobile devices, commercial air and defense markets, as well as contributions from the Company’s acquisition program. During the quarter, we again realized strong profitability with Adjusted Operating Margin reaching a record 21.9%. We are very proud of the Company’s outstanding performance during the quarter.”
The Company continues to deploy its financial strength in a variety of ways to increase shareholder value. During the quarter, the Company purchased 2.7 million shares of its common stock for $176 million and paid dividends of $132 million, resulting in total capital returned to shareholders of $308 million.
Amphenol remains focused on expanding its growth opportunities through a deep commitment to developing enabling technologies for customers across our served markets, an ongoing strategy of market and geographic diversification as well as an active and successful acquisition program. To that end, the Company is excited to have closed the previously announced acquisition of Lütze Europe in early October 2024. Based in Germany with annual sales of approximately $100 million, Lütze Europe is a leading provider of harsh environment cable and cable assembly solutions for high-technology applications in the industrial market. This acquisition, together with the previously acquired Lutze US business, will be reported in our Harsh Environment Solutions segment. In addition, we remain excited by the previously announced acquisition of the OWN and DAS businesses from CommScope, and now expect that transaction to close in the first quarter of 2025.
Fourth Quarter and Full Year 2024 Outlook
Assuming the continuation of current market conditions as well as constant exchange rates, for the fourth quarter of 2024, Amphenol expects sales to be in the range of $3.95 billion to $4.05 billion, representing a 19% to 22% increase from the fourth quarter of 2023. Adjusted Diluted EPS is expected to be in the range of $0.48 to $0.50, representing a 17% to 22% increase from the prior year quarter. For the full year 2024, Amphenol expects sales to be in the range of $14.85 billion to $14.95 billion, representing an 18% to 19% increase over the prior year, while Adjusted Diluted EPS is expected to be in the range of $1.82 to $1.84, representing a 21% to 22% increase over the prior year. This guidance does not include the impact of acquisitions that have not yet closed.
Mr. Norwitt continued, “I am very pleased with the Company’s third quarter 2024 results. The revolution in electronics continues to accelerate, with new innovations creating exciting growth opportunities for Amphenol across each of our diversified end markets. In turn, we have expanded our range of high-technology interconnect products, both through our organic innovation efforts as well as through our successful acquisition program. This expanded technology position coupled with our unique entrepreneurial culture has strengthened our competitive advantage. Our ongoing drive to leverage that competitive advantage and thereby create sustained financial strength has established an excellent base for the Company’s future performance. I am confident in the ability of our outstanding and growing entrepreneurial management team to continue to dynamically adjust to changing market conditions, to capitalize on the wide array of growth opportunities that arise in all market cycles and to continue to generate sustainable long-term value for our shareholders and other stakeholders.”
Testimonial
"We’re proud to call I-Connect007 a trusted partner. Their innovative approach and industry insight made our podcast collaboration a success by connecting us with the right audience and delivering real results."
Julia McCaffrey - NCAB GroupSuggested Items
Federal Electronics Mexico Boosts Speed and Flexibility with New Mycronic A40DX Pick-and-Place
07/23/2025 | Federal ElectronicsFederal Electronics, a leader in providing advanced electronic manufacturing services, has announced a major upgrade at its Hermosillo, Mexico facility with the installation of a Mycronic MYPro A40DX Pick-and-Place system, advancing its surface mount assembly capabilities for high-reliability electronics manufacturing.
DuPont Publishes 2025 Sustainability Report
07/22/2025 | PRNewswireDuPont published its 2025 Sustainability Report detailing the progress made toward achieving its 2030 Sustainability Goals.
NEOTech’s Westborough Facility Achieves AS9100 Surveillance Audit, Reinforcing Trust with Aerospace & Defense Customers
07/22/2025 | NEOTechNEOTech, a premier provider of electronic manufacturing services (EMS), integrated design engineering, and advanced supply chain solutions for the aerospace and defense, medical device, and high-tech industrial markets, proudly announces that its Westborough, Massachusetts facility has successfully completed the rigorous AS9100 Bi-Annual Surveillance Audit with zero findings, a testament to the company’s unwavering commitment to quality, security, and operational excellence.
PCBAA Wins Summit Silver Award from the American Society of Association Executives
07/18/2025 | PCBAAPCBAA was one of 38 associations that earned Silver Awards for outstanding contributions for an entry titled: Chips Don’t Float: More Printed Circuit Boards Must be Made in America.
INSPECTIS AB ‘Makes it a Meal’ with Series U50s Advanced Kit
07/18/2025 | INSPECTIS ABFamous chefs the world over maintain that an entrée doesn’t make a great meal without side dishes. At INSPECTIS, we call those ‘sides’ an Advanced Kit.