Amphenol Sales Jump 65% to $10.2 Billion in Record Third Quarter
Key Facts
Amphenol reported record results for the third quarter of 2026, with sales of $10.2 billion, up 65% in dollars and 37% organically from the same period in 2025, according to the company's statement. The company said adjusted operating margin reached 29.7%, while orders totaled $12.2 billion. The book-to-bill ratio was 1.19 to 1, reflecting recorded orders exceeding sales during the quarter. The figures show the company’s continued year-over-year growth, with organic sales expansion alongside the accounting impact of growth in dollars. Management linked the performance to strong demand in most end markets and contributions from its acquisition program.
Chief Executive Officer Adam Norwitt said sales benefited from "strong organic growth in most of our end markets," pointing to "continued exceptional organic growth in the information and communications technology market," in addition to contributions from the acquisition program. The comment distinguishes the sources of growth identified by the company: internal expansion in its markets, notable growth in the information and communications technology market, and revenue from acquired companies. Orders totaled $12.2 billion during the quarter, compared with sales of $10.2 billion. The book-to-bill ratio was 1.19 to 1, alongside an adjusted operating margin of 29.7%. These indicators put recorded demand and adjusted operating profitability at the center of the company's reading of its quarterly results.
Sales rose from the second quarter of 2026, when the company reported $8.8 billion, up 55% in dollars and 30% organically year over year. In the third quarter, annual growth accelerated to 65% in dollars and 37% organically, while quarterly sales increased from $8.8 billion to $10.2 billion. In July, the company had set a third-quarter sales range of $9.3 billion to $9.4 billion, with expected annual growth of 50% to 52%. It also forecast adjusted diluted earnings of $0.70 to $0.71 per share after the stock split, compared with a previous range of $1.40 to $1.42 before the split. Actual sales came in above the high end of the company's guidance, while the available facts in this report do not include the actual earnings-per-share result.
Operating cash flow was $2.1 billion in the quarter, and free cash flow reached $1.6 billion, according to the company's statement. During the same period, Amphenol repurchased 3.0 million shares for $245 million and paid $308 million in dividends. Total capital returned to shareholders during the quarter was $553 million. Alongside its results, the company raised its quarterly dividend 20% to $0.15 per share. It also announced a new $4 billion share repurchase program extending over three years, adding a new announced commitment to the capital returns it made during the quarter.
The company said its third-quarter results conference call will be held on October 28, 2026, at 1:00 p.m. Eastern Time. It is scheduled to report fourth-quarter 2026 results on January 27, 2027, according to its investor relations calendar. The upcoming dates follow a quarter in which the company recorded record sales and orders, with year-over-year growth in sales both in dollars and organically. The scheduled call provides an opportunity to discuss the reported results with management. The next scheduled announcement on the company's calendar is fourth-quarter results.