Amphenol (APH) reported Q4 EPS of $0.78, $0.03 better than the analyst estimate of $0.75. Revenue for the quarter came in at $3.24 billion versus the consensus estimate of $3.15 billion.
GUIDANCE:
Amphenol sees FY2023 revenue of $2.84-2.9 billion, versus the consensus of $3.06 billion.
The current economic environment remains uncertain. In addition, as we discussed last quarter, we have seen some continued moderation in demand in the communications-related markets. Assuming market conditions do not meaningfully worsen as well as constant exchange rates, for the first quarter of 2023, Amphenol expects sales to be in the range of $2.840 billion to $2.900 billion. This represents a 2% to 4% decline over the first quarter of 2022 and includes a two percentage point negative currency impact. Adjusted Diluted EPS is expected to be in the range of $0.65 to $0.67, representing a 3% decline to flat over the first quarter of 2022.
“Despite the ongoing challenges and uncertainties around the world, we are very pleased with the Company’s strong fourth quarter and full year 2022 results,” Mr. Norwitt continued. “The revolution in electronics continues to accelerate, creating exciting and dynamic long-term growth opportunities for Amphenol across each of our diversified end markets. Our ongoing drive to leverage our competitive advantages and create sustained financial strength, as well as our initiatives to expand our product offerings, both organically and through our acquisition program, have created an excellent base for the Company’s future performance. I am confident in the ability of our outstanding entrepreneurial management team to continue to dynamically adjust to changing market conditions, to capitalize on the wide array of growth opportunities that arise in all market cycles and to continue to generate sustainable long-term value for our shareholders and other stakeholders. Most importantly, I remain truly grateful to our team for their extraordinary efforts in navigating the myriad of challenges around the world while continuing to strongly support our customers and drive outstanding operating performance.”