Amphenol Corp Stock Price, News & Analysis

CommScope reported its Q2 2024 results with consolidated net sales of $1.39 billion, down 12.7% year-over-year. Core net sales decreased 17% to $1.05 billion. The company reported GAAP income from continuing operations of $74.8 million, or $0.27 per share, compared to a loss in Q2 2023. Non-GAAP adjusted EBITDA increased 19.5% to $302.1 million.

The Connectivity and Cable Solutions (CCS) segment showed strength, while Access Network Solutions (ANS) and NICS segments experienced weakness. CommScope has entered an agreement to sell its Outdoor Wireless Networks segment and DAS business unit for approximately $2.1 billion in cash. The company's full-year Core adjusted EBITDA guidance is $700 to $800 million.

CommScope (NASDAQ: COMM) has released preliminary results for Q2 2024, reporting consolidated net sales of $1.39 billion and core net sales of $1.05 billion. The company expects GAAP income from continuing operations of $75 million and consolidated non-GAAP adjusted EBITDA of $302 million. CommScope saw stronger-than-expected performance in its Connectivity and Cable Solutions (CCS) and Outdoor Wireless Networks (OWN) segments, offset by weaker sales in NICS and Access Network Solutions (ANS).

The company recently announced a definitive agreement to sell its OWN segment and DAS business unit to Amphenol for $2.1 billion, expected to close in H1 2025. CommScope plans to engage with lenders and bondholders in Q3 to discuss options for deleveraging its balance sheet and addressing upcoming maturities.

Amphenol (NYSE: APH) reported record second quarter 2024 results, with sales reaching $3.61 billion, up 18% from Q2 2023. The company achieved record Adjusted Diluted EPS of $0.44, a 22% increase year-over-year. Amphenol announced a 50% increase in quarterly dividend to $0.165 per share. The company completed the acquisition of CIT and signed deals to acquire Lutze and CommScope's mobile networks-related businesses. For Q3 2024, Amphenol expects sales between $3.70-$3.80 billion and Adjusted Diluted EPS of $0.43-$0.45. The company also implemented a 2-for-1 stock split in June 2024.

Amphenol (NYSE: APH) has announced a definitive agreement to acquire CommScope's mobile networks businesses for $2.1 billion in cash. The acquisition includes CommScope's Outdoor Wireless Networks (OWN) segment and Distributed Antenna Systems (DAS) business. These businesses are expected to generate approximately $1.2 billion in sales with 25% EBITDA margins in 2024. The deal is anticipated to be accretive to Amphenol's Diluted EPS in the first full year after closing, excluding acquisition-related costs.

The acquisition will add advanced antenna and associated interconnect products, technologies, and capabilities to Amphenol's portfolio, complementing its existing offerings for next-generation wireless networks. The deal is expected to close in the first half of 2025, subject to regulatory approvals and closing conditions. Amphenol plans to finance the acquisition through a combination of cash on hand and debt.

CommScope (NASDAQ: COMM) has announced a definitive agreement to sell its Outdoor Wireless Networks (OWN) segment and Distributed Antenna Systems (DAS) business unit to Amphenol (NYSE: APH) for approximately $2.1 billion in cash. The transaction is expected to close within the first half of 2025, subject to regulatory approvals and customary closing conditions.

CEO Chuck Treadway stated that this move allows CommScope to increase focus on its CommScope NEXT priorities with its remaining segments and business units. The OWN segment provides wireless infrastructure for mobile networks, while the DAS business offers cellular infrastructure solutions for venues, campuses, and enterprises.

Amphenol (NYSE: APH) has finalized the acquisition of the Carlisle Interconnect Technologies (CIT) business from Carlisle Companies Incorporated (NYSE: CSL). This acquisition aims to enhance Amphenol's offerings in engineered interconnect solutions for harsh environments, targeting commercial air, defense, and industrial markets. The CIT business is projected to contribute $900 million in sales and a 20% adjusted EBITDA margin for the full year 2024. Additionally, the acquisition is expected to increase Amphenol's 2024 earnings per share by approximately $0.02, excluding acquisition-related costs. This figure will adjust to $0.01 per share following the company's recently announced 2-for-1 stock split.

Carlisle Companies (NYSE: CSL) has announced the completion of the sale of Carlisle Interconnect Technologies (CIT) to Amphenol (NYSE: APH). Carlisle is known for its innovative building products and solutions aimed at energy efficiency. The company operates through its main divisions, Carlisle Construction Materials (CCM) and Carlisle Weatherproofing Technologies (CWT). Carlisle emphasizes shareholder returns through balanced capital deployment, strategic acquisitions, share repurchases, and dividend increases. Additionally, the company aims to achieve net-zero greenhouse gas emissions by 2050.

Amphenol (NYSE: APH) has announced a two-for-one stock split authorized by its Board of Directors.

This stock split will be executed as a stock dividend, with shareholders receiving one additional share for each share held as of the close of business on May 31, 2024.

The distribution of the additional shares is expected to occur on June 11, 2024.

Amphenol (NYSE: APH) declared a second quarter 2024 dividend of $0.22 per share, approved by the Board of Directors on May 1, 2024. The dividend will be paid on July 10, 2024, to shareholders of record as of June 18, 2024.