Amphenol reported record third-quarter 2026 results, with strong organic growth and contributions from acquisitions lifting sales and earnings well above year-earlier levels. The company also raised its quarterly dividend and authorized a new $4 billion share-repurchase program.
The results and capital-return plans came alongside an active acquisition push: Amphenol closed its purchase of Empire Electronics and signed agreements to buy three other businesses.
Third-quarter results
- Sales reached $10.2 billion, up 65% in U.S. dollars and 37% organically from the third quarter of 2025. The company cited strong organic growth in most end markets, particularly IT datacom, as well as acquisition contributions.
- Orders totaled $12.2 billion, producing a book-to-bill ratio of 1.19. That means orders exceeded sales during the quarter.
- Diluted earnings per share were $0.79 on a GAAP basis, up 61% year over year. Adjusted diluted EPS was $0.80, up 74%.
- Operating margins remained near 30%: 29.5% on a GAAP basis and 29.7% adjusted.
- Operating cash flow was $2.1 billion and free cash flow was $1.6 billion.
- Chief Executive R. Adam Norwitt said sales and adjusted EPS both exceeded the high end of company guidance.
Dividends and share repurchases
- Amphenol is increasing its quarterly dividend by 20%, from $0.125 to $0.15 per share. The increase applies to dividends declared in the fourth quarter of 2026 and reflects the effect of the September stock split.
- The board authorized a new three-year, open-market repurchase program of up to $4 billion, beginning January 1, 2027. The company expects to finish the remaining purchases under its existing $2 billion program by December 31, 2026.
- During the third quarter, Amphenol bought back 3 million shares for $245 million and paid $308 million in dividends, returning a total of $553 million to shareholders.
Acquisitions
- Amphenol completed its acquisition of Empire Electronics in early September. The Michigan-based maker of complex automotive interconnect assemblies, with a focus on lighting-related products, is expected to generate about $320 million in full-year 2026 sales and will join the Interconnect and Sensor Systems segment.
- The company signed an agreement to acquire AdvancedPCB, a Colorado-based maker of high-technology printed circuit boards for defense and industrial markets. AdvancedPCB is expected to generate about $270 million in 2026 sales and will be part of the Harsh Environment Solutions segment after closing.
- Amphenol also signed agreements to acquire Dexgreen Limited, a fiber-optic provider, and the sensor business of Humanetics. The announcement provided no sales estimates for those businesses in the available details.
The announced plans increase the dividend and establish a larger future repurchase authorization, while the acquisition activity adds businesses across automotive, defense, industrial and sensor markets.