Amphenol Lowers FY19 Outlook - Quick Facts

(RTTNews) - While reporting its financial results for the second quarter on Wednesday, Amphenol Corp. (APH) lowered its financial outlook for fiscal 2019, citing a moderation of demand in certain of its end markets, particularly related to communication equipment.

For the third quarter, Amphenol forecasts sales in a range of $1.96 billion to $2.00 billion and adjusted earnings per share in a range of $0.86 to $0.88.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.98 per share for the quarter on revenues of $2.08 billion. Analysts' estimates typically exclude special items.

For fiscal 2019, Amphenol now expects sales in a range of $7.92 billion to $8.00 billion, a decrease of 2 percent to 3 percent over 2018, and adjusted earnings per share in a range of $3.56 to $3.60, which is a decrease of 5 percent to 6 percent over the prior year.

The Street expects the company to report earnings of $3.82 per share for the year on revenues of $8.18 billion.