By Dean Seal
Shares of Amphenol popped after the company's first-quarter performance and second-quarter outlook both blew past Wall Street forecasts.
The stock was up 12% at $73.70 in premarket trading. Shares were trading at around $57 this time a year ago.
The maker of electrical systems and connectors for broadband networks on Wednesday posted a profit of $737.8 million, or 58 cents a share, for the first three months of the year. That's up from 548.7 million, or 44 cents a share, in the same quarter a year earlier.
Stripping out one-time items, adjusted earnings were 63 cents a share. Analysts polled by FactSet had been projecting 52 cents a share.
Sales rocketed up 48% to $4.81 billion, beating analyst estimates by more than $500 million, according to FactSet.
The top line was driven up by strong organic growth in the IT datacom market and momentum in the mobile devices, defense and communications networks markets, Chief Executive R. Adam Norwitt said.
Amphenol is guiding for $4.9 billion to $5 billion in revenue and adjusted earnings of 64 cents to 66 cents a share this quarter, well ahead of current analyst targets for 56 cents a share on $4.57 billion in revenue.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
April 23, 2025 08:49 ET (12:49 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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