Amphenol Stock Gains After Q1 Print, What's Going On?
Portfolio Pulse from Anusuya Lahiri
Amphenol Corporation (NYSE:APH) reported a 9% year-on-year sales increase for Q1 2024, reaching $3.256 billion and beating consensus estimates. Adjusted EPS was $0.80, surpassing the expected $0.73. The company announced a new $2 billion stock repurchase program and expects Q2 sales to increase by 6%-8%. APH stock has gained over 48% in the last 12 months. Investors can also gain exposure through VictoryShares THB Mid Cap ETF (NASDAQ:MDCP) and AdvisorShares Focused Equity ETF (NYSE:CWS).
April 24, 2024 | 2:15 pm
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POSITIVE IMPACT
Amphenol Corporation reported strong Q1 2024 earnings, surpassing consensus estimates with a sales increase and higher adjusted EPS. Announced a new $2 billion stock repurchase program.
The positive earnings report and the announcement of a significant stock repurchase program are likely to boost investor confidence and demand for APH shares, leading to a potential short-term price increase.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
AdvisorShares Focused Equity ETF, holding APH shares, could benefit from Amphenol's positive Q1 earnings report and subsequent stock repurchase announcement.
Given APH's inclusion in CWS's portfolio, the ETF may see positive effects from Amphenol's better-than-expected earnings and stock repurchase plan, potentially making CWS more attractive to investors.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
VictoryShares THB Mid Cap ETF, which includes APH in its holdings, may see indirect benefits from Amphenol's strong Q1 performance and stock repurchase program.
As APH constitutes part of MDCP's holdings, the ETF might experience indirect positive impacts from Amphenol's earnings beat and stock repurchase announcement, potentially attracting more investors to MDCP.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50