Amphenol (APH) Q3 2026 earnings summary

Executive summary

• Record Q3 sales were $10,229.7M, up 65% reported and 37% organically YoY; record orders of $12.17B yielded a 1.19:1 book-to-bill.

• Adjusted diluted EPS reached a record $0.80, above the high end of guidance; adjusted operating margin was 29.7%.

• Strong growth across all three segments was led by AI-related IT datacom demand.

Financial highlights

• Q3 operating income was $3,020.8M, versus $1,702.3M a year earlier; diluted EPS was $0.79 versus $0.49, and adjusted diluted EPS was $0.80 versus $0.46.

• Operating cash flow reached $2,078.5M and free cash flow $1,622.7M, both records; each represented 102% and 80% of net income, respectively.

• 9M net sales increased 60% YoY to $26,607.9M; organic growth was 34%.

• 9M net income attributable to shareholders was $4,736.5M and diluted EPS $1.84; adjusted net income was $5,174.7M and adjusted diluted EPS $2.01.

• Q3 acquisition-related expenses were $15.5M; 9M expenses totaled $287.9M, including inventory step-up amortization, backlog amortization and transaction costs.

Outlook and guidance

• Q4 sales guidance is $10.3B-$10.5B and adjusted diluted EPS guidance is $0.81-$0.83; assumptions include current market conditions and constant exchange rates, and exclude pending acquisitions.

• FY2026 guidance is sales of $36.9B-$37.1B and adjusted diluted EPS of $2.82-$2.84, representing ~60% and ~70% growth, respectively.

• Q4 outlook: IT datacom up mid-single digits, mobile devices up ~35%, defense up mid-single digits, commercial air steady, industrial moderating, automotive slightly lower and communications networks declining further.

• CommScope FY2026 outlook increased to $5.1B sales and $0.18 adjusted EPS contribution, from prior expectations of $4.6B and $0.15.

• Pending acquisitions have a combined purchase price of ~$1.2B; expected funding is cash and debt, with acquired businesses assigned across the three reporting segments.