Amphenol
Q2 2022 Earnings Call
Jul 27, 2022, 1:00 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Hello, and welcome to the second quarter earnings conference call for Amphenol Corporation. [Operator instructions]. I would now like to introduce today's conference host, Mr. Craig Lampo.
Sir, you may begin.
Craig Lampo -- Chief Financial Officer
Thanks. Good afternoon, everyone. This is Craig Lampo, Amphenol's CFO, and I'm here together with Adam Norwitt, our CEO. We would like to welcome you to our second quarter 2022 conference call.
Our second quarter 2022 results were released this morning, and 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.
In addition, all data discussed during this call is on a continuing operations basis, including prior year comparative information. The company closed the second quarter with record sales of $3.137 billion and record GAAP and adjusted diluted EPS of $0.76 and $0.75, respectively. Second quarter sales were up 18% in U.S. dollars, 21% in local currencies and 18% organically compared to the second quarter of 2021.
Sequentially, sales were up 6% in U.S. dollars, 8% in local currencies, and 8% organically. Adam will comment further on trends by market in a few minutes. Orders in the quarter were a record $3.449 billion, which was up 11% compared to the second quarter of 2021, and relatively flat sequentially, resulting in a strong book-to-bill ratio of 1.1-1.
Both GAAP and adjusted operating income were $649 million in the second quarter of this year, and GAAP and adjusted operating margin were both 20.7% in the second quarter. On a GAAP basis, operating margin increased by 280 basis points compared to the second quarter of 2021, and 70 basis points sequentially. As a reminder, GAAP operating margin for the prior year quarter included $55 million of acquisition-related costs as a result of the MTS acquisition. On an adjusted basis, operating margin increased by 70 basis points, both year over year and sequentially.
The year-over-year increase in adjusted operating margin was driven by operating leverage on the significantly higher sales volume as well as the benefit of ongoing pricing actions, which we believe have offset a meaningful amount of the inflation-related cost increases. On a sequential basis, the increase in operating margin reflected operating leverage on the higher sales volumes as well as the benefit of ongoing pricing actions. Given the dynamic overall cost and supply chain environment, we are very proud of the company's operating performance. Our team's ability to effectively manage through the myriad of operational and supply chain challenges around the world is a direct result of the company's entrepreneurial culture, which continues to foster a high-performance, action-oriented management team.