- Amphenol Corp APH reported first-quarter FY23 sales growth of 1% year-on-year to $2.97 billion, beating the consensus of $2.90 billion.
- Margin: The consolidated operating margin was flat Y/Y at 20.1%.
- Non-GAAP EPS of $0.69 beat the consensus of $0.67.
- Amphenol generated $532.4 million in operating cash flow and held $1.5 billion in cash and equivalents.
- CEO R. Adam Norwitt said the revenue increase was partially offset by expected declines in other markets and negative currency effects.
- Despite the challenges, the company achieved an Adjusted Operating Margin of 20.1%, added Norwitt.
- Outlook: Amphenol sees Q2 sales of $2.89 billion - $2.95 billion, below the consensus of $3.07 billion.
- It sees non-GAAP EPS of $0.66 - $0.68, below the consensus of $0.72.
- Price Action: APH shares traded lower by 1.62% at $73.66 on the last check Wednesday.
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