Amphenol Corporation (NYSE:APH) designs and manufactures connectors and interconnecting systems that are used to transmit electrical and optical signals for a wide range of sophisticated electronic applications. The top-line growth of the company is expected to benefit from improved end-market demand, new product rollouts and market share gains.
However, bulk of APH’s revenues comes from sales to the communications industry, demand for which is subject to rapid technological change. As the extent of competition is increasing over time, investors have been eagerly awaiting for the company’s latest earnings report. In the last four trailing quarters, APH has reported a positive average earnings surprise of 3.04%, beating estimates twice.
Currently, APH has a Zacks Rank #3 (Hold), but that could definitely change following the second-quarter 2016 earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: APH beat on earnings. APH reported earnings of 65 cents, which exceeded the Zacks Consensus Estimate of 63 cents.
Revenue: Quarterly revenues beat estimates. APH recorded revenues of $1,548.2 million, well ahead of the Zacks Consensus Estimate of $1,515 million.
Key Stats to Note: In the second-quarter sales increased by 15% compared to the prior year quarter. Going forward the company expects to continues to deploy its financial strength in different ways to increase its shareholder value. At the same time, APH expects to leverage on the solid growth potential of FCI to drive robust performance in the future. It also incurred acquisition related cost related to the FCI acquisition it had done it Jan8, 2016.
Stock Price: Shares prices remained flat in pre-market trading following the earnings beat at the time of writing.
Check back our full write up on this APH earnings report later!
AMPHENOL CORP-A (APH): Free Stock Analysis Report
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