AMPHENOL REPORTS RECORD THIRD QUARTER 2026 RESULTS
AMPHENOL CORP /DE/ (APH) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Amphenol News Release World Headquarters 358 Hall Avenue Wallingford, CT 06492 Telephone (203) 265-8900 AMPHENOL REPORTS RECORD THIRD QUARTER 2026 RESULTS AND ANNOUNCES DIVIDEND INCREASE AND NEW STOCK REPURCHASE PROGRAM Third Quarter 2026 Highlights:
How this was made
The 30-second read
Why it matters
The earnings beat and capital return actions are likely to drive short-term upside, while guidance suggests continued strong growth.
Market read
Record earnings and aggressive shareholder returns position Amphenol for a near‑term price rally, with broader implications for the industrial components sector.
What to watch
Integration risk of recent acquisitions and potential margin pressure from future debt service.
AMPHENOL REPORTS RECORD THIRD QUARTER 2026 RESULTS AND ANNOUNCES DIVIDEND INCREASE AND NEW STOCK REPURCHASE PROGRAM
Third-quarter sales rose 65% in U.S. dollars and 37% organically, adjusted diluted EPS rose 74%, adjusted operating margin reached 29.7%, and orders produced a 1.19:1 book-to-bill ratio. Fourth-quarter and full-year outlook call for continued approximately 60% sales growth and substantial adjusted EPS growth.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Q3 2026 net salesGAAP | $10.23B | – | 65% |
| Q3 2026 organic net sales growthnon-GAAP | 37% | – | 37% |
| Q3 2026 constant currency net sales growthnon-GAAP | 65% | – | 65% |
| Q3 2026 acquisition impact on net salesnon-GAAP | 28% | – | 28% |
| Q3 2026 gross profitGAAP | $4.02B | – | – |
| Q3 2026 operating incomeGAAP | $3.02B | – | – |
| Q3 2026 operating marginGAAP | 29.5% | – | – |
| Q3 2026 adjusted operating incomenon-GAAP | $3.04B | – | – |
| Q3 2026 adjusted operating marginnon-GAAP | 29.7% | – | – |
| Q3 2026 net incomeGAAP | $2.05B | – | – |
| Q3 2026 net income attributable to Amphenol CorporationGAAP | $2.03B | – | – |
| Q3 2026 diluted EPSGAAP | $0.79 | – | 61% |
| Q3 2026 adjusted net income attributable to Amphenol Corporationnon-GAAP | $2.06B | – | – |
| Q3 2026 adjusted diluted EPSnon-GAAP | $0.80 | – | 74% |
| Q3 2026 effective tax rateGAAP | 27.4% | – | – |
| Q3 2026 adjusted effective tax ratenon-GAAP | 27.0% | – | – |
| Q3 2026 ordersother | $12.2B | – | – |
| Q3 2026 book-to-billnon-GAAP | 1.19:1 | – | – |
| Q3 2026 operating cash flowGAAP | $2.08B | – | – |
| Q3 2026 capital expendituresGAAP | −$457.2M | – | – |
| Q3 2026 free cash flownon-GAAP | $1.62B | – | – |
| Nine months ended September 30, 2026 net salesGAAP | $26.61B | – | 60% |
| Nine months ended September 30, 2026 organic net sales growthnon-GAAP | 34% | – | 34% |
| Nine months ended September 30, 2026 operating incomeGAAP | $7.44B | – | – |
| Nine months ended September 30, 2026 operating marginGAAP | 28.0% | – | – |
| Nine months ended September 30, 2026 adjusted operating incomenon-GAAP | $7.73B | – | – |
| Nine months ended September 30, 2026 adjusted operating marginnon-GAAP | 29.0% | – | – |
| Nine months ended September 30, 2026 net income attributable to Amphenol CorporationGAAP | $4.74B | – | – |
| Nine months ended September 30, 2026 diluted EPSGAAP | $1.84 | – | – |
| Nine months ended September 30, 2026 adjusted diluted EPSnon-GAAP | $2.01 | – | – |
| Nine months ended September 30, 2026 operating cash flowGAAP | $4.76B | – | – |
| Nine months ended September 30, 2026 free cash flownon-GAAP | $3.66B | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Communications Solutions, Q3 2026Organic Net Sales Growth was 51%; acquisition impact was 48%; operating margin was 33.1%. | $6.58B | – | 99% |
| Harsh Environment Solutions, Q3 2026Organic Net Sales Growth was 29%; acquisition impact was 5%; operating margin was 30.1%. | $2.04B | – | 35% |
| Interconnect and Sensor Systems, Q3 2026Organic Net Sales Growth was 11%; acquisition impact was 6%; operating margin was 20.0%. | $1.60B | – | 17% |
| Communications Solutions, nine months ended September 30, 2026Organic Net Sales Growth was 47%; acquisition impact was 44%; operating margin was 32.6%. | $16.50B | – | 91% |
| Harsh Environment Solutions, nine months ended September 30, 2026Organic Net Sales Growth was 25%; acquisition impact was 7%; operating margin was 29.5%. | $5.59B | – | 32% |
| Interconnect and Sensor Systems, nine months ended September 30, 2026Organic Net Sales Growth was 13%; acquisition impact was 4%; operating margin was 20.4%. | $4.51B | – | 19% |
Fourth Quarter and Full Year 2026 outlook
- RevenueFourth quarter 2026 sales of $10.3 to $10.5 billion; full year 2026 sales of $36.9 billion to $37.1 billion.
- NoteFourth quarter 2026 GAAP Diluted EPS of $0.80 - $0.82.
- NoteFourth quarter 2026 Adjusted Diluted EPS of $0.81 - $0.83.
- NoteFull year 2026 GAAP Diluted EPS of $2.64 - $2.66.
- NoteFull year 2026 Adjusted Diluted EPS of $2.82 - $2.84.
- NoteFourth-quarter sales guidance represents an approximately 60% increase over the prior year quarter.
- NoteFourth-quarter Adjusted Diluted EPS guidance represents a 65% to 69% increase from the fourth quarter of 2025.
- NoteFull-year sales guidance represents an approximately 60% increase over prior year.
- NoteFull-year Adjusted Diluted EPS guidance represents an approximately 70% increase over prior year.
- NoteGuidance does not include AdvancedPCB, Dexgreen and Humanetics Sensors.
- NoteCommScope is expected to generate full-year sales of $5.1 billion and be $0.18 accretive to Adjusted Diluted EPS in 2026.
Capital returns
- Purchased 3.0 million shares of common stock for $245 million during the third quarter.
- Paid dividends of $308 million during the third quarter.
- Total capital returned to shareholders was $553 million during the third quarter.
- Quarterly dividend increased by 20% to $0.15 per share from $0.125 per share.
- The new dividend will be paid on January 13, 2027 to shareholders of record as of December 22, 2026.
- The Company expects to complete repurchases remaining under the existing three-year, $2 billion stock repurchase plan by December 31, 2026.
- The Board approved a new three-year $4 billion stock repurchase plan, effective January 1, 2027.
What drove it
- Management cited strong organic growth in most end markets, including continued exceptional organic growth in the IT datacom market.
- Communications Solutions generated $6,583.0 million of Q3 sales, with 51% Organic Net Sales Growth and 48% acquisition impact.
- Record Q3 orders of $12.2 billion produced a 1.19:1 book-to-bill ratio.
- Empire Electronics closed at the beginning of September and is included in Interconnect and Sensor Systems.
- The release states that CommScope better-than-expected performance led management to expect full-year sales of $5.1 billion and $0.18 of Adjusted Diluted EPS accretion.
Concerns
- Q3 interest expense was $(212.3) million, compared with $(80.7) million in the prior-year quarter.
- Nine-month interest expense was $(633.9) million, compared with $(238.1) million in the prior-year period.
- The Company recorded $389.0 million of nine-month discrete tax items, including $130.0 million related to unfavorable determinations from relevant tax authorities in China and $160.0 million in additional China tax obligations.
- Management increased its Adjusted Effective Tax Rate to 27.0% as a result of the tax matter and a continued shift in income to higher-tax jurisdictions.
- The approximately $1.6 billion combined purchase price for AdvancedPCB, Dexgreen, Empire Electronics and Humanetics Sensors will be financed through cash on hand and debt.
- Acquisitions of AdvancedPCB and Humanetics Sensors remain subject to customary regulatory approvals and other closing conditions; Dexgreen is expected to close in the first quarter of 2027.
What to watch
- Fourth-quarter delivery against sales guidance of $10.3 to $10.5 billion and Adjusted Diluted EPS guidance of $0.81 to $0.83.
- Whether the 1.19:1 Q3 book-to-bill ratio supports continued growth in Communications Solutions and IT datacom.
- Completion and integration of AdvancedPCB and Humanetics Sensors in the fourth quarter of 2026 and Dexgreen in the first quarter of 2027.
- CommScope performance against expected full-year sales of $5.1 billion and $0.18 of Adjusted Diluted EPS accretion.
- Cash deployment between acquisition financing, debt, dividends and the new three-year $4 billion repurchase program.
Balance sheet and cash flow
- Cash and cash equivalents were $4,173.1 million at September 30, 2026, compared with $11,130.6 million at December 31, 2025.
- Short-term investments were $1,128.3 million at September 30, 2026, compared with $303.6 million at December 31, 2025.
- Total cash, cash equivalents and short-term investments were $5,301.4 million at September 30, 2026, compared with $11,434.2 million at December 31, 2025.
- Current portion of long-term debt was $700.7 million at September 30, 2026, compared with $937.2 million at December 31, 2025.
- Long-term debt, less current portion, was $17,170.1 million at September 30, 2026, compared with $14,564.8 million at December 31, 2025.
- Nine-month acquisitions, net of cash acquired, were $(11,055.8) million.
- Nine-month proceeds from issuance of senior notes and other debt facilities were $4,927.2 million; repayments of senior notes and other debt facilities were $(2,473.6) million.
- Nine-month purchase of treasury stock was $(630.6) million and dividend payments were $(922.0) million.
Analysis
Amphenol reported record third-quarter performance, with GAAP net sales of $10,229.7 million versus $6,194.4 million in the prior-year quarter. Reported sales growth was 65%, while Organic Net Sales Growth was 37%. Orders were $12.2 billion and book-to-bill was 1.19:1, providing a reported indicator of demand that exceeded quarterly sales. Communications Solutions was the principal growth contributor, reporting $6,583.0 million in sales, 99% growth and 51% Organic Net Sales Growth.
Profitability expanded on both reported and adjusted measures. GAAP operating income was $3,020.8 million and operating margin was 29.5%, versus 27.5% a year earlier. Adjusted operating income was $3,036.3 million and adjusted operating margin was 29.7%, versus 27.5%. GAAP diluted EPS increased to $0.79 from $0.49, while Adjusted Diluted EPS increased to $0.80 from $0.46. Harsh Environment Solutions increased operating margin to 30.1% from 27.1%, while Interconnect and Sensor Systems maintained a 20.0% margin.
Cash generation remained substantial. Q3 operating cash flow was $2,078.5 million and free cash flow was $1,622.7 million, compared with $1,470.8 million and $1,215.5 million, respectively, in the prior-year quarter. The Company repurchased 3.0 million shares for $245 million and paid $308 million in dividends. It also approved a 20% dividend increase to $0.15 per share and a new three-year $4 billion repurchase program effective January 1, 2027.
Acquisitions remain central to the reported growth and capital allocation profile. Empire Electronics closed at the beginning of September and is expected to generate full-year 2026 sales of approximately $320 million. The Company also signed agreements for AdvancedPCB, Dexgreen and Humanetics Sensors. The combined purchase price for AdvancedPCB, Dexgreen, Empire Electronics and Humanetics Sensors is approximately $1.6 billion, financed through a combination of cash on hand and debt. At September 30, 2026, cash and cash equivalents were $4,173.1 million and long-term debt, less current portion, was $17,170.1 million.
The fourth-quarter outlook calls for sales of $10.3 to $10.5 billion and Adjusted Diluted EPS of $0.81 to $0.83. Full-year outlook calls for sales of $36.9 billion to $37.1 billion and Adjusted Diluted EPS of $2.82 to $2.84. Management stated that outlook excludes acquisitions not yet closed. The release also raised expected CommScope full-year sales to $5.1 billion and expected 2026 Adjusted Diluted EPS accretion to $0.18, from prior expectations of $4.6 billion and $0.15, respectively.
Management, verbatim
We are pleased to have closed the third quarter of 2026 with record sales and Adjusted Diluted EPS, both exceeding the high end of our guidance.
R. Adam Norwitt, Chairman and Chief Executive Officer
Sales increased from prior year by 65%, driven by strong organic growth in most of our end markets, including continued exceptional organic growth in the IT datacom market, as well as contributions from the Company’s acquisition program.
R. Adam Norwitt, Chairman and Chief Executive Officer
The Company realized strong profitability during the quarter with Adjusted Operating Margin reaching 29.7%.
R. Adam Norwitt, Chairman and Chief Executive Officer
Not in the filing
stated, not guessed- Previous-release outlook was not provided, so comparison of actual results with prior company guidance is unavailable.
- Q3 2026 gross margin was not reported as a standalone metric.
- Q3 2026 prior-quarter comparisons were not reported for revenue, earnings, margins, cash flow or segment revenue.
- Forward guidance for gross margin, operating expenses and tax rate was not provided.
- Segment revenue drivers by end market were not quantified beyond Organic Net Sales Growth, acquisition impact and management commentary.
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Amphenol's 8‑K filing provides the first public disclosure of its Q3 2026 results and forward guidance.
Ticker impact
Amphenol reported record Q3 2026 sales of $10.2B, EPS up 61%, and announced a 20% dividend increase and a new $4B stock repurchase program.
likely upward pressure as the market prices in the earnings beat, dividend hike, and expanded buyback.
Record revenue and EPS growth exceed guidance, while the dividend increase and large buyback signal ample cash flow, supporting a price rally.
Market effects
Highlights strength in interconnect and sensor markets, potentially lifting peers in industrial and automotive components.
Positive for US technology and industrial sectors, may boost related ETFs.
Large-cap earnings beat can influence broader market sentiment, especially in hardware component space.
Counterpoint
Some investors may question the sustainability of 60%+ growth and the debt financing of acquisitions.
Key entities
- companyAmphenol Corp.
Manufacturer of interconnect products, ticker APH.
