Amphenol Beats Q3 Sales, EPS Estimates Despite Market Moderations, CEO Highlights Mixed Market Performance
Portfolio Pulse from Anusuya Lahiri
Amphenol Corp (NYSE:APH) reported a Q3 FY23 sales decline of 1% YoY to $3.199 billion, beating the consensus of $3.098 billion. Adjusted EPS of $0.78 topped the consensus of $0.74. The company's sales decreased by 3% due to moderations in several markets, partially offset by growth in others and contributions from the acquisition program. The company's Q4 sales and adjusted EPS are expected to decline. The Board approved a 5% increase in the quarterly dividend.
October 25, 2023 | 6:44 pm
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NEUTRAL IMPACT
Amphenol Corp reported better than expected Q3 FY23 sales and EPS despite a YoY decline. The company expects a decline in Q4 sales and EPS. The Board approved a 5% increase in the quarterly dividend.
Despite the YoY decline in sales, Amphenol Corp managed to beat the consensus estimates for Q3 FY23 sales and EPS. However, the company expects a decline in Q4 sales and EPS, which might negatively impact the stock price. On the other hand, the Board's approval of a 5% increase in the quarterly dividend might have a positive impact on the stock price. Therefore, the overall short-term impact on the stock price is neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100