$APH · AMPHENOL CORP /DE/
Amphenol filed its Q3 FY2026 10-Q, reporting net sales of $10.23B (+65.1% YoY), GAAP diluted EPS of $0.79, and net income attributable to Amphenol of $2.034B. The quarter reflects the transformative CommScope acquisition, which closed during the period. Pro forma results show Q3 net sales of $10.23B and diluted EPS of $0.79, versus pro forma Q3 2025 sales of $7.31B and EPS of $0.51. The balance sheet shows $17.87B in total debt, goodwill ballooning to $17.70B from $10.58B at year-end, and cash declining to $4.17B from $11.13B as the acquisition was funded.
- Q3 net sales of $10.23B, up 65.1% YoY from $6.19B, driven by the CommScope acquisition and organic growth.
- GAAP diluted EPS of $0.79 vs. $0.49 a year ago; adjusted EPS of $0.80.
- Operating margin reached 29.5% on operating income of $3.02B; gross margin was 39.3%.
- Nine-month operating cash flow of $4.76B, up from $3.65B, despite $1.59B working capital drag.
- Cash and equivalents fell to $4.17B from $11.13B at year-end 2025, largely funding the $11.06B CommScope acquisition.
Extended-hours trading shows APH at $79.73, up 0.52% from the regular-session close of $79.32, which had fallen 3.36% during the day. The modest after-hours uptick suggests the strong Q3 results and 65% revenue growth are stabilizing sentiment after the regular-session selloff.
Amphenol's Q3 marks the first full quarter incorporating the CommScope acquisition, vaulting quarterly revenue past $10B and confirming the deal's transformative impact on the $195B connector giant.
Amphenol's 65% revenue growth and 29.5% operating margin reinforce its position as the premier consolidator in electronic connectors. The CommScope acquisition transforms the company's scale, with pro forma nine-month net sales of $26.70B and pro forma diluted EPS of $1.92, dwarfing peers in the interconnect space.
Interest expense surged to $212.3M in Q3 from $80.7M a year ago, reflecting debt taken on for the CommScope acquisition. Total debt stands at $17.87B, with long-term debt of $17.17B, up from $14.56B at year-end 2025. Integration risk from the CommScope acquisition remains material given its scale relative to Amphenol's pre-deal balance sheet.