APH · 10-Q · 2026Q2 · Full report
Operating Margin Drivers
AMPHENOL CORP /DE/ · 2026-07-31 · Importance 83 · Surprise 82 · No source text
Second-quarter operating income increased to $2,584.6 million, or 29.5% of sales, from $1,418.8 million, or 25.1%, in the prior-year quarter. Six-month operating income increased to $4,416.4 million, or 27.0% of sales, from $2,443.6 million, or 23.4%. Strong operating leverage and disciplined cost control drove the margin expansion, while an $80.0 million net IEEPA tariff-recovery benefit provided an additional benefit. Six-month acquisition-related expenses increased to $272.4 million from $133.8 million, including $132.0 million of CommScope inventory step-up amortization and $140.4 million of acquisition-related expenses.
Key facts
- Net income attributable to Amphenol Corporation and Diluted EPS were $1,769.2 and $1.37, respectively, for Q2 2026, compared to $1,091.3 and $0.86, respectively, for Q2 2025. source
- Net income attributable to Amphenol Corporation and Diluted EPS were $2,702.2 and $2.10, respectively, for the first six months of 2026, compared to $1,829.1 and $1.44, respectively, for the first six months of 2025. source
- Operating income was $2,584.6, or 29.5% of net sales, for Q2 2026, compared to $1,418.8, or 25.1% of net sales, for Q2 2025. source
- Operating expenses were $6,150.0, or 70.2% of net sales, for Q2 2026, compared to $4,219.5, or 74.7% of net sales, for Q2 2025. source
- The Company believes its operations are currently in substantial compliance with applicable environmental laws and that costs of continuing compliance will not have a material adverse effect on the Company’s financial condition, results of operations or cash flows source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | realized | +13.3% | Operating income was $2,584.6, or 29.5% of net sales, for Q2 2026, compared to $1,418.8, or 25.1% of net sales, for Q2 2025. |
| operating_income | positive | realized | +13.3% | Operating expenses were $6,150.0, or 70.2% of net sales, for Q2 2026, compared to $4,219.5, or 74.7% of net sales, for Q2 2025. |
| net_income | positive | realized | +10.0% | Net income attributable to Amphenol Corporation and Diluted EPS were $2,702.2 and $2.10, respectively, for the first six months of 2026,… |
| net_income | positive | realized | +7.7% | Net income attributable to Amphenol Corporation and Diluted EPS were $1,769.2 and $1.37, respectively, for Q2 2026, compared to $1,091.3… |
| margin | positive | realized | +4.4% | Operating income was $2,584.6, or 29.5% of net sales, for Q2 2026, compared to $1,418.8, or 25.1% of net sales, for Q2 2025. |