Amphenol Reinstates FY20 Outlook Above View; Boosts Qtly. Dividend 16% - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Wednesday, Amphenol Corp. (APH) reinstated its earnings, adjusted earnings and sales guidance for the full-year 2020, above analysts' expectations. It also provided outlook for the fourth quarter and raised quarterly dividend 16 percent.

The company had withdrawn its full-year 2020 sales and earnings guidance in April as the overall demand and operating environment remained highly uncertain due to the coronavirus (COVID-19) outbreak.

For fiscal 2020, the company now projects earnings in a range of $3.74 to $3.76 per share and adjusted earnings in a range of $3.59 to $3.61 per share on sales between $8.333 billion and $8.373 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.34 per share on sales of $8.0 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, the company now projects earnings and adjusted earnings in a range of $0.98 to $1.00 per share on sales between $2.16 billion and $2.20 billion. . The Street is looking for earnings of $0.96 per share on sales of $2.14 billion for the quarter.

The Company's Board of Directors also approved a 16 percent higher quarterly dividend of $0.29 per share to be first paid on January 6, 2021 to holders of record of the Company's Class A Common stock as of December 15, 2020.