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
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Sales
Beat
$1.89 bln
$1.82 bln (11 Analysts)
Q3 Adjusted EPS
Beat
$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
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(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.)