WALLINGFORD, CT – Amphenol's sales in the second quarter totaled $3.05 billion, down 3% compared to the second quarter of last year.

"We are pleased to have closed the second quarter of 2023 with sales and Adjusted Diluted EPS both exceeding the high end of our guidance," said Amphenol President and CEO R. Adam Norwitt. "Sales decreased from prior year by 3%, driven by declines in the IT datacom, mobile networks and mobile devices markets, which was partially offset by growth in the commercial air, military and automotive markets as well as contributions from the Company’s acquisition program. Despite the moderation in our sales from prior year, our team executed strongly in the quarter, with Adjusted Operating Margin reaching 20.4%.

"We remain focused on expanding our growth opportunities through a deep commitment to developing enabling technologies for customers across our served markets, an ongoing strategy of market and geographic diversification as well as an active and successful acquisition program. To that end, we are excited to have closed on the previously announced acquisition of the North American cable and global base station antenna businesses of RFS. Given the current challenging conditions in the mobile networks market, we now expect RFS to contribute approximately $30 million to second half 2023 sales.

"We are also excited to have closed on the acquisition of EBY Electro Inc. (EBY) in July. Based in Long Island, New York and with annual sales of approximately $15 million, EBY designs and distributes terminal block interconnect products to the industrial market, primarily in North America. The acquisition further expands our offering of high-technology interconnect products in the diversified industrial market, while adding another talented management team to the Amphenol family."

For the third quarter, Amphenol expects sales to be in the range of $3.04 billion to $3.1 billion, which would represent a 6% to 8% decline over the prior year quarter.

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