Amphenol Corporation (NYSE:APH) Q2 2024 Earnings Conference Call July 24, 2024 1:00 PM ET
Company Participants
Craig Lampo - Chief Financial Officer
Adam Norwitt - Chief Executive Officer
Conference Call Participants
Wamsi Mohan - Bank of America
Amit Daryanani - Evercore
Samik Chatterjee - JPMorgan
Luke Junk - Baird
Asiya Merchant - Citigroup
Joe Spak - UBS
Guy Hardwick - Freedom Capital Markets
Scott Graham - Seaport Research
Andrew Buscaglia - BNP Paribas
Mark Delaney - Goldman Sachs
Will Stein - Truist Securities
Steven Fox - Fox Advisors
Michael Anastasiou - TD Cowen
Saree Boroditsky - Jefferies
Operator
Hello, and welcome to the Second Quarter Earnings Conference Call for Amphenol Corporation. Following today's presentation, there will be a formal question-and-answer session. Until then, all lines will remain in a listen-only mode. At the request of the company, today's conference is being recorded. If anyone has any objections, you may disconnect at this time.
I would now like to introduce today's conference host, Mr. Craig Lampo. Sir you may begin.
Craig Lampo
Thank you. 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 2024 conference call.
Our second quarter 2024 results were released this morning. I will provide some financial commentary and then Adam will give an overview of the business and current market trends and 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 as a result of our recently announced two-for-one stock split effective on June 11, 2024 all share and per share data discussed on this earnings call is on a split-adjusted basis.
The company closed the second quarter with record sales of $3.610 billion and GAAP and record adjusted diluted EPS of $0.41 and $0.44, respectively. Second quarter sales were up 18% in US dollars, 19% local currencies, and 11% organically compared to the second quarter of 2023. Sequentially sales were up 11% in US dollars and in local currencies and up 8% organically. Adam will comment further on trends by market in a few minutes.
Orders in the quarter were a record $4.061 billion, up 33% to the prior year and up 21% sequentially resulting in a strong book-to-bill ratio of 1.12:1. GAAP operating income and operating margin were $699 million and 19.4%, respectively, which included $70 million of acquisition related costs primarily associated with the CIT acquisition.