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AK1 Ametek News Story

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AMETEK Q3 sales rise 11%, beat expectations

Overview

AMETEK Q3 sales rise 11% yr/yr to $1.89 bln, beating analyst expectations

Adjusted EPS for Q3 increases 14% yr/yr, beating consensus

Company raises full-year adjusted EPS guidance to $7.32-$7.37

Outlook

AMETEK raises full-year adjusted EPS guidance to $7.32-$7.37

Company expects Q4 sales to rise 10% year-over-year

Company anticipates Q4 adjusted EPS of $1.90-$1.95

Result Drivers

EIG SALES GROWTH - EIG sales increased 10% yr/yr, contributing to margin expansion

EMG SALES GROWTH - EMG sales rose 13% yr/yr, leading to record operating income and margin expansion

FARO INTEGRATION - Progress in FARO Technologies integration seen as positive for future growth

Key Details

MetricBeat/MissActualConsensus Estimate
Q3 SalesBeat$1.89 bln$1.82 bln (11 Analysts)
Q3 Adjusted EPSBeat$1.89$1.76 (14 Analysts)
Q3 EPS$1.60
Q3 Net Income$371.41 mln
Q3 Basic EPS$1.61
Q3 Operating income$488.38 mln
Q3 Pretax Profit$447.96 mln
Analyst Coverage The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell" The average consensus recommendation for the electrical components & equipment peer group is "buy" Wall Street's median 12-month price target for AMETEK Inc is $211.00, about 12.7% above its October 29 closing price of $184.19 The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 25 three months ago Press Release: ID:nPn3fkDr7a For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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