Amphenol Corporation Q3 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Overview

  • Record sales of $2.818 billion, up 21% year-over-year (YoY) in USD and 13% organically versus Q3 2020. Sequential sales increased 6%.
  • GAAP diluted EPS: $0.67 (up 20% YoY). Adjusted diluted EPS: $0.65 (up 18% YoY; a new record).
  • Orders totaled $3.016 billion, up 33% YoY, resulting in a strong book-to-bill ratio of 1.07.
  • Operating income: $571 million; operating margin: 20.3% (down 20 bps YoY, up 30 bps sequentially).
  • Operating cash flow: $328 million; free cash flow: $238 million.
  • Inventory levels increased due to supply chain disruptions and recent acquisitions.
  • The Board approved a 38% dividend increase to $0.20 per share starting January 2022.
  • Share repurchases totaled 2.3 million shares for $171 million.
  • Net leverage ratio: 1.6x.

Segment Highlights

Interconnect (96% of sales)

  • Sales rose 21% YoY in USD.
  • Operating margin: 22.4% (flat YoY; up from 22.0% in Q2).

Cable Products (4% of sales)

  • Sales up 18% YoY.
  • Operating margin: 3.8%, down sharply from 10.7% in Q3 2020 due to commodity and logistics cost spikes.

End Market Performance

Military (10% of sales)

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Operator: Hello, and welcome to the Third Quarter Earnings Conference Call for Amphenol Corporation. Following today's presentation, there will be a formal question-and-answer session. Until then all lines will remain in a listen-only mode. At the request of the company, today's conference is being recorded. If anyone has any objections, you may disconnect at this time. I would now like to introduce today's conference host, Mr. Craig Lampo. Thank you, sir. You may begin. Craig Lampo: Thank you very much. Good afternoon, everyone. This is Craig Lampo, Amphenol's CFO, and I'm here together with Adam Norwitt, our CEO. We would like to welcome you to our third quarter 2021 conference call. Our third quarter 2021 results were released this morning. I will provide some financial commentary, and then Adam will give an overview of the business as well as current trends, and then we'll take some questions. As a reminder, during the call, we may refer to certain non-GAAP financial measures and may make certain forward-looking statements. Please refer to the relevant disclosures in our press release for further information. In addition, all data discussed during this call will be on a continuing operations basis unless otherwise noted. The company closed the third quarter with record sales of $2.818 billion and GAAP and adjusted diluted EPS of $0.67 and $0.65 respectively. Sales were up 21% in U.S. dollars, 20% in local currencies and 13% organically compared to the third quarter of 202

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional