Amphenol Corp (MEX:APH)
MXN 1366.84 0 (0%) Market Cap: 1.65 Tn Enterprise Value: 1.73 Tn PE Ratio: 39.21 PB Ratio: 8.70 GF Score: 83/100

Q2 2024 Amphenol Corp Earnings Call Transcript

Jul 24, 2024 / 05:00PM GMT
Release Date Price: MXN1146.27 (-8.00%)

Key Points

Positve
  • Amphenol Corp (APH) reported record sales of $3.61 billion for Q2 2024, an 18% increase year-over-year.
  • The company achieved a record adjusted diluted EPS of $0.44, up 22% from the prior year.
  • Orders in the quarter reached a record $4.61 billion, resulting in a strong book-to-bill ratio of 1.12 to 1.
  • Adjusted operating margins reached a record 21.3%, a 90 basis points increase from last year's second quarter.
  • The company announced a 50% increase in its quarterly dividend to $0.165 per share, effective October 2024.
Negative
  • The industrial market saw a 5% organic sales decline year-over-year, indicating some market softness.
  • The automotive market is expected to see a slight decline in sales in Q3 due to slowed production schedules by certain automakers.
  • Broadband market sales declined by 17% year-over-year, with further moderation expected in Q3.
  • The CIT acquisition is currently operating below the company's average profitability levels, impacting overall margins.
  • The pending acquisition of CommScope's mobile networks businesses is expected to take 10-11 months to close, which is longer than typical for Amphenol Corp (APH).
Operator

Hello, and welcome to the Second Quarter Earnings Conference Call for Amphenol Corporation. Following today's presentation, there will be a formal question and answer session. Until then all lines will remain in a listen only mode. At the request of the company, today's conference is being recorded. If anyone has any objections, you may disconnect at this time. I would now like to introduce today's conference host, Mr. Craig Lampo. Sir, you may begin.

Craig Lampo
Amphenol Corp - Chief Financial Officer, Senior Vice President

Thank you. Good afternoon, everyone. This is Craig Lampo, Amphenol's CFO, and I'm here together with Adam Norwitt, our CEO. We would like to welcome you to our second quarter 2024 conference call. Our second quarter 2024 results were released this morning. I will provide some financial commentary and then Adam will give an overview of the business and current market trends, and then we will take questions.

As a reminder, during the call, we may refer to certain non-GAAP financial measures and make certain forward-looking

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