In This Story
Amphenol Corporation (APH-0.44%) has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing an increase in net sales to $15,222.7 million from $12,554.7 million in the previous year. The increase was driven by strong organic growth in the Communications Solutions segment and contributions from acquisitions.
Operating income for the year was $3,156.9 million, representing 20.7% of net sales, compared to $2,559.6 million or 20.4% of net sales in the previous year. The increase in operating income was primarily due to higher sales volumes and strong operational performance.
Net income attributable to Amphenol Corporation was $2,424.0 million, up from $1,928.0 million in the previous year. This increase was impacted by excess tax benefits related to stock-based compensation and a discrete tax benefit related to the settlement of tax audits.
Cash provided by operating activities was $2,814.7 million, while cash used in investing and financing activities was $2,648.6 million and $1,729.9 million, respectively.
The company completed two acquisitions during the year, including the acquisition of Carlisle Interconnect Technologies, for approximately $2,156.4 million, net of cash acquired.
Amphenol reported a net deferred tax liability of $248.0 million as of December 31, 2024, with a valuation allowance of $73.6 million, primarily related to U.S. state and foreign net operating loss carryforwards.
The company declared dividends totaling $0.55 per share for the year, compared to $0.425 per share in the previous year.
Amphenol's board authorized a new stock repurchase program allowing the purchase of up to $2.0 billion of its common stock over a three-year period, effective April 29, 2024.
The filing also details various financial agreements, including the issuance of new senior notes and the amendment of its revolving credit facility.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Amphenol Corporation annual 10-K report dated February 7, 2025. To report an error, please email earnings@qz.com.