Amphenol shares up 2% amid raised guidance, record sales

NEW YORK - Amphenol Corporation (NYSE:APH ) shares jumped 2.75% in after-hours trading Wednesday after the company reported third quarter results that beat expectations and raised its full-year outlook.

The electronic components maker posted adjusted earnings per share of $0.50 for Q3, surpassing the analyst consensus of $0.45. Revenue rose 26% YoY to $4.04 billion, also topping estimates of $3.81 billion.

Amphenol President and CEO R. Adam Norwitt said the company achieved "record sales and Adjusted Diluted EPS, both exceeding the high end of our guidance." He noted robust organic growth across several end markets, including IT datacom, mobile networks, mobile devices, commercial air and defense.

For the fourth quarter, Amphenol expects EPS of $0.48-$0.50 on revenue of $3.95-$4.05 billion. The company raised its full-year 2024 EPS guidance to $1.82-$1.84, up from its prior outlook of $1.77.

"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," Norwitt added.

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Source: Investing.com