Amphenol Corp. - Ordinary Shares - Class A

Record Q2 financial performance (strong upside vs guidance): - Sales: $8.8B, +55% YoY (USD), +54% YoY (local), +30% organic; +15% sequentially (USD/local), +13% organic. - EPS: GAAP $1.37 and adjusted $1.35 diluted EPS; adjusted EPS +67% YoY (from $0.81). - Orders / backlog momentum: Record $10.7B orders (+94% YoY, +14% sequential), book-to-bill 1.23; importantly every end market had positive book-to-bill.

Margin & cash flow strength (execution + tariff recovery tailwind): - GAAP operating margin: 29.5%; includes $24M non-cash acquired backlog from the CommScope acquisition. - Adjusted operating margin: 29.8%, +24 bps YoY, +250 bps sequentially—driven mainly by operating leverage on higher volumes and tariff recovery benefit; also some offset from recent acquisitions. - Cash generation: Operating cash flow $1.6B (≈88% of net income), free cash flow $1.2B (≈68% of net income).

Segment highlights (growth where investors care most): - Communication Solutions: $5.4B sales, +85% YoY (USD), +42% organic; margin 33.6%. - Harsh Environment: $1.9B, +28% YoY (USD), +22% organic; margin 30.1%. - Interconnect & Sensor Systems: $1.5B, +17% YoY (USD), +13% organic; margin 21%. - Investor read-through: the call repeatedly emphasized IT datacom / AI-related interconnect as the engine, with electronics content intensity rising rather than shrinking.