second quarter 2026
Filed Jul 29, 2026AMPHENOL REPORTS RECORD SECOND QUARTER 2026 RESULTS
Record sales, record orders, GAAP and Adjusted Diluted EPS growth, strong operating margins and positive third-quarter sales and Adjusted Diluted EPS outlook underpin the result.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| SalesGAAP | $8.8 billion | – | up 55% in U.S. dollars |
| Organic Sales Growthnon-GAAP | 30% | – | 30% organically compared to the second quarter of 2025 |
| Ordersother | $10.7 billion | – | – |
| Book-to-billnon-GAAP | 1.23:1 | – | – |
| GAAP Diluted EPSGAAP | $1.37 | – | up 59% compared to prior year |
| Adjusted Diluted EPSnon-GAAP | $1.35 | – | up 67% compared to prior year |
| GAAP Operating MarginGAAP | 29.5% | – | – |
| Adjusted Operating Marginnon-GAAP | 29.8% | – | – |
| Tariff Recovery Net Benefit in GAAP and Adjusted Operating Incomeother | $80 million ($0.04 per share) | – | – |
| Operating Cash FlowGAAP | $1.6 billion | – | – |
| Free Cash Flownon-GAAP | $1.2 billion | – | – |
third quarter of 2026 outlook
- Revenue$9.3 billion to $9.4 billion
- NoteSales representing a 50% to 52% increase over the prior year quarter.
- NoteAdjusted Diluted EPS of $1.40 to $1.42, representing a 51% to 53% increase from the third quarter of 2025.
- NoteThis guidance does not include any additional tariff recoveries.
- NoteCommScope is expected to generate full-year sales of $4.6 billion and to be $0.30 accretive to the Company’s Adjusted Diluted EPS in 2026.
- NotePrior expectations for CommScope were sales of $4.1 billion and accretion of $0.15.
Capital returns
- Purchased 1.5 million shares of its common stock for $208 million.
- Paid dividends of $307 million.
- Total capital returned to shareholders of $515 million.
What drove it
- Sales increased from prior year by 55%, driven by strong organic growth in most end markets, including exceptional organic growth in the IT datacom market, and contributions from the acquisition program.
- The Company booked record orders, resulting in a book-to-bill of 1.23:1.
- Adjusted Operating Margin reached 29.8%, inclusive of $80 million in net tariff recoveries.
- The Company completed acquisitions of El.Com and Wilder Technologies during the second quarter.
- El.Com has annual sales of approximately $150 million and serves the industrial, defense and commercial aerospace markets.
- Wilder Technologies has annual sales of approximately $15 million and supplies high-performance test and measurement solutions for high-speed digital, RF and signal integrity applications to the IT datacom market.
- Better than expected performance of CommScope raised expected full-year sales and Adjusted Diluted EPS accretion.
Concerns
- GAAP and Adjusted Operating Income included an $80 million ($0.04 per share) net benefit related to the recovery of IEEPA tariffs.
- Third-quarter guidance does not include any additional tariff recoveries.
- Third-quarter outlook assumes continuation of current market conditions and constant exchange rates.
What to watch
- Whether orders and the 1.23:1 book-to-bill convert into third-quarter sales within the $9.3 billion to $9.4 billion outlook range.
- Sustainability of strong organic growth, particularly the exceptional growth cited in IT datacom.
- Operating-margin performance without additional tariff recoveries in third-quarter guidance.
- Delivery against the revised CommScope full-year sales and Adjusted Diluted EPS accretion expectations.
- Integration and contribution from El.Com and Wilder Technologies.
Balance sheet and cash flow
- Operating Cash Flow of $1.6 billion.
- Free Cash Flow of $1.2 billion.
Analysis
Amphenol reported record second-quarter 2026 sales of $8.8 billion, up 55% in U.S. dollars and 30% organically compared with the second quarter of 2025. Orders were $10.7 billion and produced a 1.23:1 book-to-bill. Management attributed growth to strong organic performance in most end markets, exceptional IT datacom organic growth, and acquisition contributions.
Profitability was strong in the reported period. GAAP Diluted EPS was $1.37, up 59% compared with prior year, while Adjusted Diluted EPS was $1.35, up 67%. GAAP Operating Margin was 29.5% and Adjusted Operating Margin was 29.8%. Both GAAP and Adjusted Operating Income included an $80 million ($0.04 per share) net benefit from recovery of IEEPA tariffs, making the contribution of tariff recoveries an important factor in assessing the quarter’s margin and earnings performance.
Cash generation and capital allocation remained substantial. Operating Cash Flow was $1.6 billion and Free Cash Flow was $1.2 billion. The Company repurchased 1.5 million shares for $208 million and paid $307 million in dividends, for total capital returned to shareholders of $515 million. Amphenol also completed the El.Com and Wilder Technologies acquisitions, expanding its exposure to industrial, defense, commercial aerospace and IT datacom-related applications.
For the third quarter of 2026, Amphenol expects sales of $9.3 billion to $9.4 billion and Adjusted Diluted EPS of $1.40 to $1.42. The outlook assumes current market conditions and constant exchange rates, and it excludes additional tariff recoveries. The Company also raised its 2026 CommScope expectations to $4.6 billion of full-year sales and $0.30 of Adjusted Diluted EPS accretion, above prior expectations of $4.1 billion and $0.15, respectively.
Management, verbatim
We are pleased to have closed the second quarter of 2026 with record sales and Adjusted Diluted EPS, both exceeding the high end of our guidance. Sales increased from prior year by 55%, driven by strong organic growth in most of our end markets, including exceptional organic growth in the IT datacom market, as well as contributions from the Company’s acquisition program. We also booked record orders in the quarter, resulting in a book-to-bill of 1.23:1. The Company realized strong profitability during the quarter with Adjusted Operating Margin reaching 29.8%, inclusive of $80 million in net tariff recoveries. We are extremely proud of the Company’s outstanding performance.
R. Adam Norwitt, Chairman and Chief Executive Officer
Not in the filing
stated, not guessed- Period-end date.
- GAAP gross profit and gross margin.
- GAAP operating income amount.
- Adjusted operating income amount.
- GAAP net income or net income attributable to Amphenol Corporation.
- Adjusted net income attributable to Amphenol Corporation.
- Effective tax rate and Adjusted Effective Tax Rate.
- Prior-year and prior-quarter absolute values for sales, orders, operating margins, earnings, cash flow and capital returns.
- Segment revenue, segment growth and segment profitability.
- Cash balance, debt balance and other balance-sheet metrics.
- Capital expenditures.
- Third-quarter gross-margin, operating-expense and tax-rate guidance.
- A separately provided previous-release outlook for formal actual-versus-prior-guidance comparison.
AlphaAI 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.