2024-01-24 18:52:02 ET
Amphenol Corporation (APH)
Q4 2023 Earnings Conference Call
January 24, 2024, 01:00 PM ET
Company Participants
Craig Lampo - CFO
Adam Norwitt - CEO
Conference Call Participants
Amit Daryanani - Evercore
Asiya Merchant - Citigroup
Luke Junk - Baird
Wamsi Mohan - Bank of America
Samik Chatterjee - JPMorgan
Andrew Buscaglia - BNP
Mark Delaney - Goldman Sachs
William Stein - Truist Securities
Chris Snyder - UBS
Steven Fox - Fox Advisors
Matt Sheerin - Stifel
Presentation
Operator
Hello, and welcome to the Fourth Quarter 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 introduce your conference host, Mr. Craig Lampo, you may begin.
Craig Lampo
Thank you very much. Good afternoon, everyone. This is Craig Lampo, Amphenol's CFO, and I'm here together with Adam Norwitt, our CEO. We would like to wish everyone a Happy New Year, and welcome you to our fourth quarter of 2023 conference call.
Our fourth quarter and full year 2023 results were released this morning. I will provide some financial commentary, and then Adam will give an overview of the business and current trends. 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 fourth quarter with sales of $3,327 million and record adjusted diluted EPS of $0.82. Fourth quarter sales were up 3% in U.S. dollars, 2% in local currencies and down 1% organically compared to the fourth quarter of 2022. Sequentially, sales were up 4% in U.S. dollars, 4% in local currencies and 2% organically. Adam will comment further on trends by market in a few minutes.
For the full year of 2023, sales were $12,555,000,000 down 50 basis points in U.S. dollars, flat in local currencies and down 3% organically compared to 2022. Orders in the quarter were $3,164,000,000, up 10% compared to the fourth quarter of 2022 and flat sequentially, resulting in a book-to-bill ratio of 0.95:1.
For the full year, orders were $12,267,000,000, down 5% compared to 2022, resulting in a book-to-bill of 0.98:1. GAAP operating income and operating margin was $690 million and 20.7%, respectively, in the fourth quarter of 2023 which increased 10 basis points compared to both the fourth quarter of 2022 and the third quarter of 2023....
Read the full article on Seeking Alpha
For further details see:
Amphenol Corporation (APH) Q4 2023 Earnings Call Transcript