Amphenol Corporation (APH) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

an overview of the business and current market trends. Then, of course, we will take your 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 third quarter of 2025 with record sales of $6,194,000,000, a record GAAP and adjusted EPS of $0.97 and $0.93, respectively. Third quarter sales were up 53% in U.S. dollars, 52% in local currencies, and 41% organically compared to the third quarter of 2024. Sequentially, sales were up 10% in U.S. dollars and local currencies and up 9% organically. Adam will comment further on trends by market in a few minutes. Orders in the quarter were a record $6,111,000,000. up a strong 38% compared to the third quarter of 2024, and up 11% sequentially, resulting in a book-to-bill ratio of 0.99 to 1. Gap in adjusted operating income were both $1,702,000,000 in the quarter, and operating margin was a record 27.5%. On an adjusted basis, operating margin increased by a strong 560 basis points from the prior year quarter and 190 basis points sequentially. The year-over-year increase in adjusted operating margin was primarily driven by strong operating leverage on significantly higher sales volumes, which was only modestly offset by the dilutive impact of acquisitions. On a sequential basis, the increase in adjusted operating margin reflected strong conversion on the higher sales levels, as well as further progress on profitability improvement on acquired businesses. I'm extremely proud of the company's record operating margin performance in the third quarter, which reflects continued strong execution by our team. Breaking down third quarter results ...