Amphenol Sales Jump 65% to Record $10.2 Billion; Dividend Raised 20% and $4 Billion Buyback Set

Amphenol's sales jumped 65% in the third quarter to a record $10.2 billion, and the connector maker paired the results with a 20% dividend increase and a new $4 billion buyback plan, according to the earnings release it filed with an 8-K on Wednesday.

Both sales and adjusted earnings per share came in above the high end of the company's own guidance, Chairman and CEO R. Adam Norwitt said in the release. Orders reached a record $12.2 billion, giving the company a book-to-bill ratio of 1.19 to 1, meaning it took in more new business than it shipped during the quarter.

The quarter

Organic sales, which exclude currency swings and acquisitions, rose 37% from a year earlier. Norwitt pointed to "continued exceptional organic growth in the IT datacom market," along with contributions from the company's acquisition program.

GAAP diluted earnings per share rose 61% to $0.79, while adjusted diluted EPS climbed 74% to $0.80. The GAAP operating margin was 29.5% and the adjusted operating margin reached 29.7%. Per-share figures reflect the 2-for-1 stock split that took effect in early September.

Operating cash flow came to $2.1 billion and free cash flow to $1.6 billion.

Outlook

For the fourth quarter, Amphenol expects sales of $10.3 billion to $10.5 billion, about 60% above the prior-year quarter, and adjusted diluted EPS of $0.81 to $0.83, up 65% to 69%.

For full-year 2026, the company now expects sales of $36.9 billion to $37.1 billion, roughly 60% higher than last year, and adjusted diluted EPS of $2.82 to $2.84, an increase of about 70%. That outlook excludes acquisitions that have not yet closed.

The company also lifted its expectations for the CommScope business it acquired. It now sees that unit generating $5.1 billion in 2026 sales and adding $0.18 to adjusted diluted EPS, up from prior expectations of $4.6 billion and $0.15.

Deals and shareholder returns

Amphenol closed its purchase of Empire Electronics, a Michigan maker of automotive interconnect assemblies, in early September, and signed agreements to buy AdvancedPCB, Dexgreen and the Humanetics Sensors business. The combined price for the four deals is about $1.6 billion, to be funded with cash on hand and debt, the company said.

The board approved raising the quarterly dividend to $0.15 a share from $0.125. The new dividend will be paid on Jan. 13, 2027, to shareholders of record on Dec. 22, 2026.

Amphenol expects to finish its existing three-year, $2 billion repurchase plan by Dec. 31, 2026. The new three-year, $4 billion program takes effect on Jan. 1, 2027. In the third quarter alone, the company bought back 3.0 million shares for $245 million and paid $308 million in dividends, returning $553 million to shareholders.

Sources

1. Amphenol Form 8-K with third-quarter 2026 earnings release (Exhibit 99.1), filed Oct. 28, 2026 (accession 0001104659-26-119421)

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