Ametek lifts 2026 profit forecast on strong AI data center-led demand
30/04/2026 16:26
April 30 (Reuters) - Industrial tools maker Ametek AME.N on Thursday lifted its 2026 profit forecast above Wall Street estimates, on strong demand for its products used in power generation for AI data centers. The company — which provides backup power, micro grids, power system simulation services for data center construction — benefits from robust investments in AI data centers from hyperscalers. Shares of the company were up 3% The Berwyn, Pennsylvania-based company now sees 2026 adjusted per share profit between $7.94 and $8.14, up from its previous forecast of $7.87 and $8.07. Ametek's adjusted profit rose to $1.97 per share in the quarter ended March 31, from $1.75 per share a year ago. Analysts, on an average, expected a profit of $1.9 per share. Ametek's first-quarter revenue rose 11% to $1.93 billion, compared with $1.73 billion a year earlier. (Reporting by Parth Chandna; Editing by Shailesh Kuber) ((Parth.Chandna@thomsonreuters.com;))