Name: Amphenol Corp. (NYSE:APH) | Income Statement (Quarterly)
Creator: Stock Analysis on Net

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Amphenol Corp., consolidated income statement (quarterly data)

US$ in thousands

3 months ended:	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net sales	3,256,300)	3,327,600)	3,199,200)	3,053,900)	2,974,000)	3,239,100)	3,295,200)	3,136,800)	2,951,900)	3,026,800)	2,818,500)	2,653,900)	2,377,100)	2,426,000)	2,323,400)	1,987,500)	1,862,000)	2,151,000)	2,100,600)	2,015,300)	1,958,500)
Cost of sales	(2,167,300)	(2,227,100)	(2,150,700)	(2,062,200)	(2,030,600)	(2,201,700)	(2,235,200)	(2,132,600)	(2,025,300)	(2,085,600)	(1,928,600)	(1,810,700)	(1,649,600)	(1,660,400)	(1,588,500)	(1,383,700)	(1,302,200)	(1,472,300)	(1,438,700)	(1,367,700)	(1,330,700)
Gross profit	1,089,000)	1,100,500)	1,048,500)	991,700)	943,400)	1,037,400)	1,060,000)	1,004,200)	926,600)	941,200)	889,900)	843,200)	727,500)	765,600)	734,900)	603,800)	559,800)	678,700)	661,900)	647,600)	627,800)
Acquisition-related expenses	—)	(16,200)	(9,000)	(4,000)	(5,400)	(9,500)	(12,000)	—)	—)	(15,000)	—)	(55,400)	—)	(11,500)	—)	—)	—)	—)	—)	(8,900)	(16,500)
Selling, general and administrative expenses	(404,200)	(394,200)	(381,600)	(367,800)	(346,300)	(361,800)	(366,900)	(355,400)	(336,800)	(333,300)	(318,700)	(311,600)	(262,700)	(265,800)	(259,100)	(246,400)	(242,900)	(248,800)	(248,300)	(239,200)	(235,100)
Operating income	684,800)	690,100)	657,900)	619,900)	591,700)	666,100)	681,100)	648,800)	589,800)	592,900)	571,200)	476,200)	464,800)	488,300)	475,800)	357,400)	316,900)	429,900)	413,600)	399,500)	376,200)
Interest expense	(38,100)	(35,000)	(33,600)	(35,000)	(35,900)	(37,000)	(32,800)	(30,500)	(28,100)	(28,800)	(29,000)	(29,100)	(28,600)	(28,400)	(28,000)	(30,200)	(28,800)	(28,200)	(29,700)	(30,000)	(29,700)
Gain on bargain purchase acquisition	—)	—)	—)	5,400)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Loss on early extinguishment of debt	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(14,300)	—)	—)
Other income (expense), net	16,000)	10,400)	9,200)	5,600)	4,100)	3,400)	2,600)	2,300)	1,700)	(100)	—)	—)	(300)	200)	1,000)	1,300)	1,100)	1,000)	4,500)	100)	3,000)
Income from continuing operations before income taxes	662,700)	665,500)	633,500)	595,900)	559,900)	632,500)	650,900)	620,600)	563,400)	564,000)	542,200)	447,100)	435,900)	460,100)	448,800)	328,500)	289,200)	402,700)	374,100)	369,600)	349,500)
Provision for income taxes	(110,700)	(146,300)	(115,200)	(130,600)	(117,200)	(121,500)	(150,400)	(144,500)	(134,200)	(106,400)	(120,500)	(78,100)	(104,100)	(100,000)	(99,300)	(68,000)	(46,000)	(81,800)	(91,800)	(78,700)	(79,600)
Net income from continuing operations	552,000)	519,200)	518,300)	465,300)	442,700)	511,000)	500,500)	476,100)	429,200)	457,600)	421,700)	369,000)	331,800)	360,100)	349,500)	260,500)	243,200)	320,900)	282,300)	290,900)	269,900)
Income from discontinued operations, net of income taxes	—)	—)	—)	—)	—)	—)	—)	—)	—)	11,100)	7,700)	2,600)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Net income	552,000)	519,200)	518,300)	465,300)	442,700)	511,000)	500,500)	476,100)	429,200)	468,700)	429,400)	371,600)	331,800)	360,100)	349,500)	260,500)	243,200)	320,900)	282,300)	290,900)	269,900)
Net income attributable to noncontrolling interests	(3,300)	(4,800)	(4,400)	(4,800)	(3,500)	(3,500)	(3,900)	(3,600)	(3,500)	(3,800)	(2,900)	(1,800)	(2,200)	(3,100)	(2,900)	(2,800)	(1,100)	(2,100)	(2,000)	(2,500)	(2,400)
Net income attributable to Amphenol Corporation	548,700)	514,400)	513,900)	460,500)	439,200)	507,500)	496,600)	472,500)	425,700)	464,900)	426,500)	369,800)	329,600)	357,000)	346,600)	257,700)	242,100)	318,800)	280,300)	288,400)	267,500)

A consistent upward trajectory in top-line revenue and bottom-line profitability is evident over the analyzed period from March 2019 through March 2024. Net sales grew from 1.96 billion USD in the first quarter of 2019 to 3.26 billion USD by the first quarter of 2024, reflecting a significant expansion in market scale. While a temporary contraction occurred in early 2020, the recovery was rapid, characterized by sustained quarterly growth that peaked in late 2023.

Revenue and Gross Profit Trends: Net sales exhibited a long-term growth trend, increasing by approximately 66% over the five-year period. Gross profit moved in close correlation with sales, rising from 627.8 million USD in March 2019 to 1.09 billion USD in March 2024. The gross profit margin remained remarkably stable, generally fluctuating between 31% and 34%, suggesting a consistent ability to manage direct production costs relative to pricing power.
Operating Expense Analysis: Selling, general, and administrative (SG&A) expenses increased from 235.1 million USD in March 2019 to 404.2 million USD in March 2024. Although these expenses rose in absolute terms, the growth rate of SG&A was lower than the growth rate of net sales, indicating improved operational leverage. Acquisition-related expenses appeared sporadically, with a notable peak of 55.4 million USD in June 2021, reflecting a strategy of inorganic growth through periodic acquisitions.
Operating Income and Efficiency: Operating income demonstrated strong growth, nearly doubling from 376.2 million USD in March 2019 to 684.8 million USD in March 2024. This expansion was driven by the combination of higher gross profits and disciplined control of operating overhead. The operating margin improved over time, reflecting greater efficiency in converting sales into operating profit.
Net Income and Financial Obligations: Net income attributable to Amphenol Corporation grew from 267.5 million USD in March 2019 to 548.7 million USD in March 2024, representing an increase of approximately 105%. Interest expenses remained relatively stable for several years before trending slightly upward from 28.1 million USD in early 2022 to 38.1 million USD by March 2024. Other income, net, showed a marked increase in the latter part of the period, contributing positively to the pre-tax income in recent quarters.

The financial performance is characterized by scalable growth and expanding net margins. The company successfully transitioned through the volatility of 2020 to achieve a higher baseline of quarterly earnings, with net income growth significantly outpacing revenue growth, thereby enhancing overall shareholder value.

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Amphenol Corp. (NYSE:APH)

Income StatementQuarterly Data

Income Statement
Quarterly Data