Amphenol (APH) investor relations material

Executive summary

• Q1 2026 delivered record sales of $7.62 billion, up 58% year-over-year and 33% organically, with adjusted diluted EPS of $1.06, both exceeding guidance.

• Orders reached a record $9.4 billion, resulting in a strong book-to-bill ratio of 1.24.

• Operating income increased 79% to $1.83 billion, with operating margin improving to 24.0% (GAAP) and 27.3% (Adjusted).

• CommScope acquisition closed in January, contributing significantly to growth, expanding product offerings, and adding fiber optic and industrial interconnect capabilities.

• Returned $485 million to shareholders via buybacks and dividends.

Financial highlights

• Gross profit for Q1 2026 was $2.8 billion, up from $1.64 billion year-over-year.

• Free cash flow reached $831 million, up from $580 million year-over-year, representing 89% of net income.

• Total debt at quarter-end was $18.7 billion; net debt $14.2 billion; liquidity $7.6 billion.

• Cash and equivalents at March 31, 2026 were $4.13 billion, down from $11.13 billion at year-end 2025, mainly due to the CommScope acquisition.

• Significant increase in goodwill and intangible assets due to acquisitions.

Outlook and guidance

• Q2 2026 sales expected at $8.1–$8.2 billion, with adjusted diluted EPS of $1.14–$1.16, up 43–45% and 41–43% year-over-year, respectively.

• Adjusted effective tax rate expected to remain at 27% for 2026, up from 24.5% in 2025, due to China tax matters and higher-tax jurisdictions.

• Guidance excludes $0.01 per share in acquisition-related costs.