Record sales and big steps ensure enormous growth!

Amphenol (NYSE:APH) just broke its own records, reporting third-quarter 2024 revenue of $4.04 billion, a whopping 26% increase year-over-year. This increase is driven by strong demand in IT data communications, mobile devices and defense, reinforced by strategic acquisitions. With adjusted diluted earnings per share increasing 28% to $0.50, Amphenol’s profitability remains rock solid, posting an adjusted operating margin of a record 21.9%. The company isn’t just hoarding cash; It gives back, returning $308 million to shareholders through buybacks and dividends.

And Amphenol isn’t slowing down. The company is targeting fourth-quarter revenue between $3.95 billion and $4.05 billion, another expected increase of 19 percent to 22 percent year-over-year. Adjusted earnings per share are forecast at $0.48 to $0.50. What drives this outlook? More than just organic growth. Amphenol recently completed its acquisition of Lutze Europe, a move that will see the company expand its lead in industrial cable solutions.

CEO R. Adam Norwitt praises the company’s entrepreneurial mindset and diverse strategy for navigating market changes and capitalizing on opportunities. With its growing technology portfolio and a strong focus on innovation, Amphenol is positioned to weather any economic wave while continuing to deliver long-term value to shareholders.

This article first appeared on GuruFocus.