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Amphenol (APH) to Report Q1 Earnings: What's in the Cards?

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Amphenol (APH - Free Report) is set to report its first-quarter 2024 results on Apr 24.

It expects first-quarter 2024 earnings between 71 cents and 73 cents per share, indicating growth between 3% and 6% year over year. Revenues are anticipated between $3.04 billion and $3.10 billion.

The Zacks Consensus Estimate for first-quarter revenues is pegged at $3.08 billion, indicating an increase of 3.48% from the figure reported in the year-ago quarter.

The consensus mark for earnings has been steady at 74 cents per share over the past 30 days, suggesting 7.25% growth from the figure reported in the year-ago quarter.

Amphenol’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 5.59%.
 

Amphenol Corporation Price and EPS Surprise

Amphenol Corporation Price and EPS Surprise

Amphenol Corporation price-eps-surprise | Amphenol Corporation Quote

 

Let’s see how things have shaped up for the upcoming announcement:

Factors to Consider

Amphenol’s diversified business model lowers the risks posed by the volatility of individual end markets and geographies. No end-market represented more than 25% of sales in 2023.

Strong contributions from the acquisitions, including TPC Wire & Cable, Airmar Technology, LID Technologies and PCTEL (completed in the previous quarter), are expected to have aided its first-quarter results.

Acquisitions have expanded its high technology and value-added interconnect product offerings to end markets, including defense, commercial aerospace and industrial product offerings. Top-line growth is expected to be reflected by this trend.

However, weakness in the industrial, mobile device and mobile networks end markets is expected to have hurt top-line growth in the to-be-reported quarter.

Industrial sales suffered from weak demand for battery and electric heavy vehicles, building automation, transportation and heavy equipment. The trend is expected to have continued in the to-be-reported quarter.

Mobile device sales are expected to have suffered from weak tablets, laptops and wearables sales.

What Our Model Says

According to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the exact case here.

Amphenol has an Earnings ESP of -2.33% and carries a Zacks Rank #2. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks to Consider

Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:

Vertiv (VRT - Free Report) has an Earnings ESP of +1.24% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

Vertiv shares have gained 68.7% year to date. VRT is set to report its first-quarter 2024 results on Apr 24.

Meta Platforms (META - Free Report) has an Earnings ESP of +0.62% and a Zacks Rank #2 at present.

Meta shares have gained 41.8% year to date. META is set to report its first-quarter 2024 results on Apr 24.

Itron (ITRI - Free Report) has an Earnings ESP of +5.88% and has a Zacks Rank of 2 at present.

Itron shares have gained 19.8% year to date. ITRI is set to report its first-quarter 2024 results on May 2.


Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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