Amphenol Q4 earnings meet guidance

Amphenol Corp
Interconnection supplier Amphenol Corp.'s fourth-quarter 2019 earnings met guidance, though declined slightly from the same quarter a year ago. (Amphenol Corp)

Amphenol Corp. reported today GAAP diluted earnings per share of $1.03 for the fourth quarter of 2019, compared to $1.09 for the comparable 2018 period. Fourth-quarter sales were $2.151 billion, compared to $2.225 billion for the comparable 2018 period.

For the 2019 calendar year ended December 31, Amphenol reported GAAP earnings per share of $3.75, down from $3.85 in 2018. Sales for 2019 were a record $8.225 billion, up from $8.202 billion for 2018.

Amphenol President and Chief Executive Officer, R. Adam Norwitt, said in a statement, “We are very pleased to close 2019 with both fourth quarter sales and adjusted diluted EPS exceeding the high end of our guidance, reaching $2.151 billion and 98 cents, respectively. Compared to the fourth quarter 2018, sales decreased 3% as a result of moderations in the communications-related markets, particularly the mobile devices and mobile networks markets, which were offset in part by strong growth in the military and commercial air markets together with contributions from the Company’s acquisition program.“

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Norwitt added, “For the full year 2019, sales were up slightly in U.S. dollars, driven by strong growth in the military and commercial air markets as well as contributions from the Company’s acquisition program. This growth was largely offset by reductions in the communications-related markets, in particular the mobile devices market, together with the negative effect of currency translation.”

Amphenol’s 2020 outlook reflects the current uncertain economic climate. Norwatt said, “As we look ahead, the overall demand environment continues to reflect a heightened level of uncertainty in the global economy. Given this environment, and assuming current exchange rates, we expect first quarter 2020 sales in the range of $1.96 billion to $2.00 billion and adjusted diluted EPS in the range of $0.85 to $0.87. For the full year 2020, we expect sales in the range of $8.24 billion to $8.40 billion, representing flat to 2% growth over 2019, and adjusted diluted EPS to be in the range of $3.76 to $3.84, representing 1% to 3% growth over 2019.

 

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