Amphenol (APH) Q1 Earnings Beat, Shares Down On Soft '19 View
Zacks Investment Research | Apr 24, 2019 12:14AM ET
Amphenol (NYSE:APH) reported first-quarter 2019 adjusted earnings of 89 cents per share that beat the Zacks Consensus Estimate by a penny and increased 7.2% from the year-ago quarter.
Net sales increased 4.9% year over year to $1.96 billion, which comfortably surpassed the Zacks Consensus Estimate of $1.94 billion. Unfavorable foreign exchange negatively impacted sales by $47 million.
However, shares were down 6.3% in pre-market trading, apparently due to slashed guidance for 2019. Amphenol expects the mobile devices end-market sales to decline more than its previous outlook.
Quarter Details
The year-over-year increase in revenues were driven by strong organic growth across the company’s end markets, including military, commercial air, IT datacom, industrial and mobile networks.
Interconnect Products and Assemblies (95.1% of net sales) sales increased 5.2% from the year-ago quarter to $1.86 billion. However, Cable Products and Solutions sales were $95.8 million, down 1.1% year over year.
Amphenol Corporation Price, Consensus and EPS Surprise
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