- Amphenol Corp (NYSE: NYSE:APH) reported second-quarter FY22 sales growth of 18% year-on-year to $3.14 billion, beating the consensus of $2.94 billion.
- Margin: The consolidated operating margin was 20.7% versus 17.9% last year.
- Non-GAAP EPS of $0.75 beat the consensus of $0.68.
- Amphenol generated $543 million in operating cash flow and held $1.33 billion in cash and equivalents.
- Amphenol closed on the acquisition of NPI Solutions, Inc. in June. Based in Morgan Hill, California, with annual sales of approximately $65 million, NPI is a manufacturer of cable assemblies, and value-add interconnect assemblies for industrial applications with a particular focus on semiconductor manufacturing equipment.
- CEO R. Adam Norwitt said, "Sales increased from prior year by a strong 18%, supported by robust growth across nearly all our end markets, as well as contributions from the Company's acquisition program which were offset by the impact of the strengthening US dollar."
- Outlook: Amphenol sees Q3 sales of $3.04 billion - $3.10 billion, versus the consensus of $3.04 billion.
- It sees non-GAAP EPS of $0.73 - $0.75, above the consensus of $0.71.
- Price Action: APH shares traded higher by 3.25% at $71.79 on the last check Wednesday.
Read at Benzinga