Amphenol Corporation (APH) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome to the first quarter 2025 earnings conference call for Amphenol Corporation. Following today's presentation, there will be a formal question and answer session. Until then, all lines will remain in a listen-only mode. At the request of the company, today's conference is being recorded. If anyone has any objections, you may disconnect at this time. I would now like to introduce today's conference host, Mr. Craig Lampo. Sir, you may begin. Thank you very much. Good afternoon, everyone. This is Craig Lampo, Amphenol CFO, and I'm here together with Adam Norritt, our CEO. We would like to welcome you to our first quarter 2025 conference call. Our first quarter 25 results were released this morning. I will provide some financial commentary, and then Adam will give an overview of the business and current market trends, and then we will take questions. As a reminder, during the call, we may refer to certain non-GAAP financial measures and make certain forward-looking statements, so please refer to the relevant disclosures in our press release for further information. The company closed the first quarter of 2025 with record sales of $4,811,000,000 in GAAP and record adjusted diluted EPS of $0.58 and $0.63, respectively. First quarter sales were up 40% in U.S. dollars. 49% in local currencies, and 33% organically compared to the first quarter of 2024. Sequentially, sales were up 11% in US dollars, 12% in local currencies, and 6% organically. Adam will comment further on trends by market in a few minutes. Orders in the quarter were a record $5,292,000,000, up a strong 58% compared to the first quarter of 2024, and up 6% sequentially, resulting in a book-to-bill ratio of 1.1 to 1. Gap operating income was $1 billion and $25 million in the quarter, and gap opera...