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The company expects third-quarter 2024 earnings between 43 cents and 45 cents per share, indicating growth of 10%-15% year over year. Revenues are anticipated to be between $3.7 billion and $3.8 billion.
The Zacks Consensus Estimate for third-quarter earnings has been steady at 45 cents per share over the past 30 days, suggesting 15.38% growth from the figure reported in the year-ago quarter.
The Zacks Consensus Estimate for third-quarter revenues is pegged at $3.77 billion, indicating an increase of 17.86% 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 6.22%.
Let’s see how things have shaped up for the upcoming announcement:
Factors to Note
Amphenol’s third-quarter 2024 results are expected to benefit from a robust order backlog, strong sales growth driven by acquisitions, and increased demand in the defense and commercial aerospace sectors.
APH reported record orders of $4.061 billion in the second quarter of 2024, resulting in a robust book-to-bill ratio of 1.12:1. This strong order backlog is likely to contribute positively to sales in the to-be-reported quarter.
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.
Strong contributions from the acquisitions, including CIT (Carlisle Interconnect Technologies) and Lutze US, are expected to enhance Amphenol’s product offerings and sales capabilities in the next quarter, especially in high-technology interconnect products.
For the third quarter of 2024, Amphenol expects mid-single-digit sales growth, bolstered by acquisitions and strong market demand, particularly in the defense and commercial aerospace sectors.
APH’s growth prospects are also bolstered by strong demand for AI technologies in the IT datacom market and increased investments in the defense sector. This trend is likely to have boosted the company’s top line during the third quarter.
However, a challenging short-term wireless investment environment and weakness in network operator spending are expected to have hurt top-line growth in the to-be-reported quarter.
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 -1.40% and carries a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
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What Should You Do With Amphenol Stock Ahead of Q3 Earnings?
Amphenol (APH - Free Report) is set to report its third-quarter 2024 results on Oct 23.
The company expects third-quarter 2024 earnings between 43 cents and 45 cents per share, indicating growth of 10%-15% year over year. Revenues are anticipated to be between $3.7 billion and $3.8 billion.
The Zacks Consensus Estimate for third-quarter earnings has been steady at 45 cents per share over the past 30 days, suggesting 15.38% growth from the figure reported in the year-ago quarter.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
Amphenol Corporation Price and EPS Surprise
Amphenol Corporation price-eps-surprise | Amphenol Corporation Quote
The Zacks Consensus Estimate for third-quarter revenues is pegged at $3.77 billion, indicating an increase of 17.86% 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 6.22%.
Let’s see how things have shaped up for the upcoming announcement:
Factors to Note
Amphenol’s third-quarter 2024 results are expected to benefit from a robust order backlog, strong sales growth driven by acquisitions, and increased demand in the defense and commercial aerospace sectors.
APH reported record orders of $4.061 billion in the second quarter of 2024, resulting in a robust book-to-bill ratio of 1.12:1. This strong order backlog is likely to contribute positively to sales in the to-be-reported quarter.
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.
Strong contributions from the acquisitions, including CIT (Carlisle Interconnect Technologies) and Lutze US, are expected to enhance Amphenol’s product offerings and sales capabilities in the next quarter, especially in high-technology interconnect products.
For the third quarter of 2024, Amphenol expects mid-single-digit sales growth, bolstered by acquisitions and strong market demand, particularly in the defense and commercial aerospace sectors.
APH’s growth prospects are also bolstered by strong demand for AI technologies in the IT datacom market and increased investments in the defense sector. This trend is likely to have boosted the company’s top line during the third quarter.
However, a challenging short-term wireless investment environment and weakness in network operator spending are expected to have hurt top-line growth in the to-be-reported quarter.
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 -1.40% and carries a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Reddit (RDDT - Free Report) has an Earnings ESP of +72.10% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Reddit shares have gained 60.4% year to date. RDDT is set to report its third-quarter 2024 results on Oct. 29.
Carrier Global (CARR - Free Report) has an Earnings ESP of +1.18% and a Zacks Rank of #2 at present.
Carrier Global shares have gained 42% year to date. CARR is set to report its third-quarter 2024 results on Oct. 24.
Cognizant Technology Solutions (CTSH - Free Report) has an Earnings ESP of +2.86% and a Zacks Rank #3.
Cognizant’s shares have gained 3.3% year to date. CTSH is set to report its third-quarter 2024 results on Oct. 30.