APH earnings analysis
What we found in APH's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Amphenol Corporation reported strong Q1 2026 results, with revenue of $7.62 billion and an adjusted EPS of $1.06, beating consensus estimates. The impressive growth of 58% in net sales year-over-year was driven by robust organic sales across all segments, particularly in Communications Solutions and Harsh Environment Solutions, and the company anticipates continued growth in the following quarter.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Record Revenue Growth
- Net sales increased by 58% from $4.81B in Q1 2025 to $7.62B in Q1 2026.
- Strong EPS Beat
- Adjusted EPS rose to $1.06, exceeding the consensus estimate of $0.95.
- Segment Performance Boost
- All segments reported growth, with Communications Solutions up 88%.
- Improved Operating Income Margin
- Operating income margin increased from 21.3% in Q1 2025 to 24.0% in Q1 2026.
- Positive Operating Cash Flow
- Operating cash flow improved, reaching $1.12B, up from $764.9M year-over-year.
- Acquisition-Driven Growth
- Acquisition of CommScope contributed to significant revenue growth.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Higher Interest Expense
- Interest expense surged to $207.9M from $76.5M due to increased debt levels.
- Effective Tax Rate Spike
- Effective tax rate rose substantially to 42.7% in Q1 2026, compared to 22.7% in Q1 2025.
- Cash Decrease Impact
- Cash and short-term investments dropped to $4.58B from $11.43B due to acquisition costs.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.06
- Gross margin
- 34.3%
- Operating margin
- 24.0%
- Segment
- Communications Solutions
- Segment
- Harsh Environment Solutions
- Segment
- Interconnect and Sensor Systems
What they said about what is next.
Management expects Q2 2026 revenue in the range of $8.1B to $8.2B, reflecting 43%-45% YoY growth.
The filing reads better than the one before it.
What came before.
- 10-K · February 11, 2026
- Amphenol reports strong 2025 operational performance with outsized revenue and margin expansion during the year and a meaningful step-up in M&A. Quarterly revenue rose to $6.44B in 2025Q4 (from $4.32B in 2024Q4)…
- 10-Q · April 25, 2025
- Amphenol reported strong Q1 results driven by acquisitions and end-market demand: net sales were $4,811.0 million (Q1 2024: $3,256.3 million) and GAAP diluted EPS was $0.58 (Q1 2024: $0.44). Gross margin expanded…
- 10-Q · July 26, 2024
- Amphenol reported Q2 2024 net sales of $3,609.7 million (up $555.8M, +18.2% vs Q2 2023) with gross profit of $1,213.1 million and diluted EPS of $0.41 (vs $0.37 in Q2 2023). Operating income rose to $698.8 million but…
- 10-Q · October 27, 2023
- Amphenol reported Q3 net sales of $3,199.2 million, down $96.0 million (‑2.9%) versus Q3 2022, while diluted EPS increased to $0.83 from $0.80. Gross profit was $1,048.5 million (slightly higher margin versus prior…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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