Amphenol Withdraws FY20 Outlook Amid COVID-19 - Quick Facts

(RTTNews) - While reporting financial results for the first quarter on Wednesday, Amphenol Corp. (APH) announced that it is withdrawing its full-year 2020 sales and earnings guidance, and will not be providing a specific outlook for the second quarter as the overall demand and operating environment remains highly uncertain due to the coronavirus (COVID-19) outbreak.

Given these dynamics, however, the company expects sales and earnings in the second quarter of 2020 to be lower than the levels we achieved in the first quarter.

The company noted that starting in late January, its team in China successfully navigated a nearly three-week shutdown of all of their manufacturing operations, and were able to return to full production levels by the beginning of March.