By Owen Tucker-Smith
Amphenol sales beat market expectations in the fourth quarter as the electronics-manufacturing company reported surging revenue in all of its major segments.
The Wallingford, Conn., company Wednesday reported profit of $746.2 million, or 59 cents a share, in the fourth quarter, up from the $514.5 million, or 41 cents a share, it posted a year ago.
On an adjusted basis, Amphenol earnings came in at 55 cents a share, up from 41 cents a share a year earlier. Analysts surveyed by FactSet expected 50 cents a share.
The company, which makes electronic and fiber-optic connectors for the auto, broadband, aerospace and defense markets, posted revenue of $4.31 billion, up 30% from $3.33 billion. Analysts expected $4.06 billion.
The company in May announced a two-for-one stock split, paid to shareholders as a stock dividend. This move led to adjustments in the company's previous per-share earnings data.
Chief Executive R. Adam Norwitt attributed the sales jump to the company's growth in the IT data-communications, mobile-networks, commercial air, mobile-devices, broadband and defense markets. He also pointed to the success of the company's acquisition program, adding the company was preparing to close two more acquisitions in the first quarter of 2025.
Amphenol expects adjusted earnings during the first quarter of 49 cents to 51 cents a share, on revenue of $4 billion-$4.10 billion.
Shares of Amphenol rose 4.5% to $76.02 in premarket trading. The stock is up about 48% over the past year.
Write to Owen Tucker-Smith at owen.tucker-smith@wsj.com
(END) Dow Jones Newswires
January 22, 2025 08:29 ET (13:29 GMT)
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