Amphenol Corporation (NYSE: APH) has reported its fourth quarter and full year 2024 results, showcasing impressive growth and increased profitability. The company's achievements include a significant increase in sales, with fourth-quarter sales reaching $4.3 billion, marking a 30% increase in U.S. dollars and a 20% organic increase compared to the same period in 2023. Furthermore, full-year sales amounted to $15.2 billion, representing a 21% surge in U.S. dollars and a 13% organic growth compared to the previous year.
Notably, the company's GAAP diluted EPS for the fourth quarter was $0.59, reflecting a substantial 44% increase from the prior year. Adjusted diluted EPS also demonstrated robust growth, reaching $0.55, which is a 34% increase compared to the same period in 2023. For the full year, GAAP diluted EPS was $1.92, up by 24%, while adjusted diluted EPS stood at $1.89, marking a 25% increase compared to the previous year.
Amphenol also achieved commendable operating margins, with both GAAP and adjusted operating margins reaching new highs of 22.1% and 22.4%, respectively, for the fourth quarter. Similarly, for the full year, the company reported GAAP and adjusted operating margins of 20.7% and 21.7%, respectively.
The company's operational and free cash flows were also noteworthy, amounting to $847 million and $648 million, respectively, for the fourth quarter, and reaching $2.8 billion and $2.2 billion, respectively, for the full year. Additionally, Amphenol completed two acquisitions during the year – Carlisle Interconnect Technologies and Luetze – and returned nearly $1.3 billion to shareholders in 2024 through share repurchases and dividends.
Looking ahead, Amphenol anticipates a strong start to 2025, with projected first-quarter sales in the range of $4.00 billion to $4.10 billion, representing a 23% to 26% increase over the prior year quarter. Adjusted diluted EPS for the first quarter is expected to be in the range of $0.49 to $0.51, reflecting a 23% to 28% increase from the first quarter of 2024.
Amphenol's President and CEO, R. Adam Norwitt, expressed satisfaction with the company's performance, attributing the success to robust organic growth, contributions from acquisitions, and the company's commitment to delivering value to shareholders. He also emphasized Amphenol's focus on leveraging its competitive advantage and creating sustained financial strength to drive future performance.
The company's strategic priorities for the future include expanding growth opportunities, developing enabling technologies, market and geographic diversification, and an active acquisition program. With a positive outlook for the future, Amphenol remains committed to generating sustainable long-term value for its shareholders and stakeholders.
Amphenol Corporation is a global leader in the design, manufacture, and marketing of electrical, electronic, and fiber optic connectors and interconnect systems, along with a diversified portfolio in high-growth areas of the interconnect market.
For further details, the conference call to discuss the results will be held on Wednesday, January 22, 2025, at 1:00 pm (EST). The company's website will provide access to the live broadcast and a replay of the call. Today the company's shares have moved 7.2% to a price of $77.96. For more information, read the company's full 8-K submission here.
