Amphenol Reports Record Q3 2026 Results, Boosts Dividend 20%, and Authorizes New $4B Buyback
AMPHENOL CORP /DE/
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Filing Summary
Amphenol Corporation (NYSE: APH) - Form 8-K Summary • Q3 2026 Financial Results: Record sales of $10.2B (up 65% YoY, 37% organic); GAAP EPS of $0.79; Adjusted EPS of $0.80 (up 74% YoY); Orders of $12.2B (book-to-bill 1.19:1). • Capital Return Programs: Board authorized a new 3-year, $4.0B open-market stock repurchase program effective January 1, 2027; increased quarterly dividend by 20% to $0.15/share (payable Jan 13, 2027). • M&A Expansion: Closed acquisition of Empire Electronics; signed agreements to acquire AdvancedPCB, Dexgreen Limited, and Humanetics Sensors (combined purchase price ~$1.6B). • Outlook: FY 2026 sales expected between $36.9B–$37.1B; FY 2026 Adjusted EPS projected at $2.82–$2.84.
Comprehensive Analysis
Executive Summary
On October 28, 2026, Amphenol Corporation (NYSE: APH) filed an 8-K disclosing record financial performance for the third quarter ended September 30, 2026, accompanied by substantial capital return actions and aggressive strategic acquisitions.
Key Highlights
1. Financial Performance (Item 2.02)
- Net Sales: Reached $10.2 billion, up 65% in U.S. dollars and 37% organically year-over-year, driven primarily by strong performance across end markets and exceptional organic growth in IT datacom.
- Profitability: GAAP diluted EPS came in at $0.79 (+61% YoY), while Adjusted Diluted EPS reached $0.80 (+74% YoY). Adjusted Operating Margin finished at 29.7%.
- Orders & Cash Flow: Booked record orders of $12.2 billion, generating a strong book-to-bill ratio of 1.19:1. Operating cash flow stood at $2.1 billion and free cash flow reached $1.6 billion.
2. Capital Allocation Actions (Item 8.01)
- New $4.0B Share Buyback: The Board of Directors approved a new three-year, $4.0 billion open-market share repurchase program taking effect January 1, 2027, following the expected completion of the existing $2.0 billion authorization by December 31, 2026.
- 20% Dividend Increase: Increased the regular quarterly dividend to $0.15 per share (up from $0.125), reflecting post-split adjustments from September 2026. Payable January 13, 2027, to shareholders of record on December 22, 2026.
3. Strategic M&A Expansion
Amphenol detailed four strategic acquisitions totaling approximately $1.6 billion funded with cash and debt:
- Empire Electronics: Closed in September 2026; automotive interconnect supplier with estimated full-year 2026 sales of ~$320 million.
- AdvancedPCB: Definitive agreement signed; U.S. high-tech PCB manufacturer for defense/industrial with ~$270 million in expected 2026 revenue (closing expected Q4 2026).
- Dexgreen Limited: Definitive agreement signed; European fiber optic connectivity provider with ~$90 million expected 2026 revenue (closing expected Q1 2027).
- Humanetics Sensors: Definitive agreement signed; precision force and optical sensor business with ~$70 million expected 2026 revenue (closing expected Q4 2026).
4. Guidance & Outlook
- Q4 2026: Sales projected between $10.3 billion and $10.5 billion (~60% YoY increase); Adjusted Diluted EPS between $0.81 and $0.83.
- FY 2026: Raised full-year net sales guidance to $36.9 billion–$37.1 billion and Adjusted Diluted EPS guidance to $2.82–$2.84, reflecting enhanced accretion from the CommScope transaction.
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