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January 22, 2025

Amphenol eyes more acquisitions after strong sales growth in 2024

PHOTO | Michelle Tuccitto Sullo Amphenol Corp.’s global headquarters in Wallingford.
By Harriet Jones

Wallingford-based Amphenol Corp. says it will continue its string of acquisitions in 2025, after recording strong sales growth last year.

The company, which makes electronic and fiber optic connection systems, antennas, sensors and coaxial and high-speed cable, reported fourth quarter sales of $4.3 billion, up 20% organically compared to the fourth quarter of 2023, and full-year sales of $15.2 billion, up 13%.

Fourth quarter profits of $746.2 million, or 59 cents a share, were up from the 41 cents a share in the year-ago period.

The results beat analysts’ expectations.

In a statement, CEO R. Adam Norwitt said that sales growth was driven by “robust organic growth in the IT datacom, mobile networks, commercial air, mobile devices, broadband and defense markets, as well as contributions from the company’s acquisition program.”

Amphenol expects to close on the purchase of two businesses from CommScope – its outdoor wireless networks and distributed antenna systems divisions – during the first quarter of 2025. The $2.1 billion deal was first announced in July last year. Amphenol says it remains focused on expanding growth opportunities through its acquisition program.

The company issued first quarter guidance for sales in the range of $4 billion to $4.1 billion, representing a 23% to 26% increase over the prior year quarter. 
 

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