Amphenol Q2 Highlights: Earnings Beat, 3% Revenue Dip, Warning On Ongoing Challenges & More
Portfolio Pulse from Nabaparna Bhattacharya
Amphenol Corporation (NYSE:APH) reported a 2.6% YoY decline in Q2 FY23 sales to $3.054 billion, beating the consensus of $2.95 billion. The decline was due to reductions in the IT datacom, mobile networks, and mobile devices markets. Non-GAAP EPS of $0.72 topped the consensus of $0.68. The company exited the quarter with $1.5 billion in cash and equivalents. For Q3, the company expects sales of $3.04 billion - $3.10 billion and adjusted EPS of $0.72 - $0.74.
July 26, 2023 | 5:14 pm
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POSITIVE IMPACT
Amphenol Corporation reported better than expected Q2 FY23 results, with sales and EPS beating consensus. However, the company expects a decline in Q3 sales and EPS compared to the prior-year quarter.
Amphenol Corporation's Q2 FY23 results were better than expected, which is likely to have a positive impact on the stock price in the short term. However, the company's warning of a decline in Q3 sales and EPS compared to the prior-year quarter could potentially offset some of the positive sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100