Amphenol reported a 65% increase in third-quarter sales on October 28 and announced a higher dividend and new share repurchase program, according to its Business Wire release.
Sales for the quarter ended September 30 reached $10.2 billion, with organic growth of 37%. Orders totaled $12.2 billion, exceeding quarterly revenue.
Chief Executive R. Adam Norwitt attributed growth to most of the company's end markets, particularly IT data communications, as well as acquisitions.
Reported diluted earnings rose 61% to 79 cents per share. Adjusted diluted earnings increased 74% to 80 cents. Reported operating margin was 29.5%, compared with an adjusted margin of 29.7%.
Operating cash flow reached $2.1 billion, while free cash flow was $1.6 billion.
The board increased the quarterly dividend 20% to 15 cents per share and announced a new three-year, $4 billion repurchase program. An authorization permits purchases; it does not mean the entire amount has been spent.
Amphenol said all share and per-share figures reflect its September two-for-one stock split. Adjusted earnings exclude specified items and supplement standard accounting results.
Sources: Amphenol company release through Business Wire, reproduced by StockTitan.