Amphenol Books Record $12.2B of Orders as Sales Jump 65%

Amphenol said on 28 October 2026 that it booked record orders of $12.2 billion in the third quarter, a book-to-bill of 1.19:1, as sales rose 65% to $10.2 billion. The connector and cable maker said sales grew 37% organically.

Chief Executive R. Adam Norwitt said the increase was “driven by strong organic growth in most of our end markets, including continued exceptional organic growth in the IT datacom market, as well as contributions from the Company’s acquisition program.”

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What Amphenol Reported

Third-quarter net sales were $10,229.7 million, against $6,194.4 million a year earlier, according to the results release. GAAP diluted earnings per share were $0.79, up 61%, and adjusted diluted earnings per share were $0.80, up 74%. The adjusted operating margin was 29.7%.

Operating cash flow was $2.1 billion and free cash flow was $1.6 billion, the company said. Amphenol bought back 3.0 million shares for $245 million in the quarter and paid $308 million of dividends.

Where the Growth Came From

The Communications Solutions segment had net sales of $6,583.0 million, up 99% from $3,309.5 million. Amphenol’s reconciliation puts the segment’s organic growth at 51%, with acquisitions adding 48%.

Harsh Environment Solutions sales rose 35% to $2,042.1 million, 29% organically. Interconnect and Sensor Systems sales rose 17% to $1,604.6 million, 11% organically, according to the release.

By our arithmetic, Communications Solutions made up about 64% of third-quarter sales, against about 53% a year earlier.

Guidance, Dividend and Buyback

For the fourth quarter, Amphenol expects sales of $10.3 billion to $10.5 billion, which it says is an increase of approximately 60%, and adjusted diluted earnings per share of $0.81 to $0.83. For the full year it expects sales of $36.9 billion to $37.1 billion and adjusted diluted earnings per share of $2.82 to $2.84.

The company now expects the CommScope business to generate full-year sales of $5.1 billion, above its prior expectation of $4.6 billion. Its board raised the quarterly dividend by 20% to $0.15 per share and approved a new three-year, $4 billion stock repurchase plan effective 1 January 2027.

Amphenol also closed the purchase of Empire Electronics and signed agreements to buy AdvancedPCB, Dexgreen and Humanetics Sensors, for a combined price of approximately $1.6 billion, according to the release.

Connecting the Coverage

Amphenol reported on the same morning as three suppliers of data center power equipment. Vertiv lifted its 2026 sales guide by $650M as its orders doubled, GE Vernova raised its 2026 free cash flow guide to $16B-$17B, and Generac said its data center backlog hit $4.5B after its Amazon deal.

Amphenol describes itself as one of the world’s largest makers of connectors and interconnect systems, sensors and high-speed and fiber optic cable. Its release attributes its growth in part to the IT datacom market rather than to data centers by name.

The Structural Read

By our arithmetic, adjusted diluted earnings per share grew 74% while sales grew 65%, and Amphenol reported an adjusted operating margin of 29.7%; the release does not break down what drove the margin.

As we read it, acquisitions are a large part of the Communications Solutions growth: Amphenol’s reconciliation attributes 48 points of that segment’s 99% growth to acquisitions and 51 points to organic growth.

Amphenol now expects the CommScope business to generate full-year sales of $5.1 billion and to be $0.18 accretive to adjusted diluted earnings per share, against prior expectations of $4.6 billion and $0.15, according to the release.

Three Implications

FOR SHAREHOLDERS Amphenol raised its quarterly dividend by 20% to $0.15 per share and approved a new three-year, $4 billion stock repurchase plan effective 1 January 2027.

FOR THE FOURTH QUARTER Amphenol expects sales of $10.3 billion to $10.5 billion and adjusted diluted earnings per share of $0.81 to $0.83.

FOR ITS ACQUISITIONS Amphenol agreed to buy AdvancedPCB, a U.S. maker of high-technology printed circuit boards for the Defense and Industrial markets, as part of acquisitions with a combined price of approximately $1.6 billion.

The Business Engineer Lens

This story maps onto the Business Engineer framework The AI Supercycle.

The framework lists Networking & Protocols as one of nine layers of the AI economy and describes it as “The interconnect that turns thousands of GPUs into a single coherent compute fabric.”

Amphenol makes connectors, interconnect systems and high-speed and fiber optic cable, and its chief executive pointed to exceptional organic growth in the IT datacom market. Its release does not mention AI or GPUs, and the framework does not discuss Amphenol.

What Is Not Established

The release does not give a sales figure for the IT datacom market on its own, and it does not use the term artificial intelligence. It does not say how much of the record $12.2 billion of orders came from IT datacom customers.

The Bottom Line

Amphenol said third-quarter sales rose 65% to $10.2 billion and orders reached a record $12.2 billion, with its chief executive pointing to exceptional organic growth in the IT datacom market. It expects fourth-quarter sales of $10.3 billion to $10.5 billion, raised its dividend by 20% and approved a new $4 billion buyback.