Amphenol: Still On Fire, Starting To Look More Compelling

Amphenol continues to deliver robust operational performance, with Q1 sales up 58% and organic growth at 33%, driven by strong M&A activity. Q2 guidance calls for 43-45% sales growth and $1.14–$1.16 adjusted EPS, reflecting continued momentum and successful integration of recent acquisitions. Net debt stands at $14.2 billion, but leverage remains well-controlled below 2x EBITDA, supported by strong earnings generation and disciplined capital allocation.