Amphenol Corporation (NYSE:APH) reported a fourth-quarter FY23 sales increase of 3% year-on-year to $3.328 billion, beating the consensus of $3.150 billion.
Adjusted EPS of $0.82 topped the consensus of $0.77.
The adjusted operating margin for the quarter was 21.2% versus 20.9% a year ago.
Amphenol exited the quarter with $1.66 billion in cash and equivalents.
“For the full year, sales were down slightly compared to 2022, with growth in the commercial air, defense and automotive markets as well as contributions from the company’s acquisition program, offset by moderations in the mobile networks, IT datacom, mobile devices and broadband markets,” CEO R. Adam Norwitt said.
Outlook: Amphenol expects first quarter sales of $3.04 billion to $3.10 billion. This represents a 2% to 4% increase over the prior year quarter, and the street view pegs at $3.12 billion.
The company sees adjusted EPS of $0.71 to $0.73, representing a 3% to 6% increase from the first quarter of 2023. The analyst consensus stands at $0.72.
Price Action: APH shares traded 4.74% higher at $102.58 on the last check Wednesday.
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