Financial Performance - AMETEK's Q1 2024 sales reached a record $1.74 billion, representing a 9% increase compared to Q1 2023[1] - Adjusted earnings per diluted share for Q1 2024 were $1.64, up 10% from Q1 2023, while GAAP earnings per diluted share were $1.34[1][2] - The Electronic Instruments Group (EIG) reported sales of $1.16 billion, a 4% increase year-over-year, with operating income margins at a record 30.5%[3] - The Electromechanical Group (EMG) achieved record sales of $579.4 million, up 21% from the previous year, with core operating margins at 24.1%[4] - The company reported a net income of $310.9 million for Q1 2024, compared to $305.7 million in Q1 2023[12] - Adjusted Operating income (Non-GAAP) increased to $446,447 for the three months ended March 31, 2024, compared to $405,541 in the prior year, representing a growth of about 10.1%[16] - Adjusted Diluted earnings per share (Non-GAAP) rose to $1.64, up from $1.49 year-over-year, indicating an increase of approximately 10.1%[16] - The company expects diluted earnings per share (GAAP) for the three months ending June 30, 2024, to be between $1.42 and $1.44[17] - The projected earnings per share for the year ending December 31, 2024, is expected to be between $5.82 and $5.94[17] Cash Flow and Assets - Operating cash flow for Q1 2024 was $410 million, with a free cash flow conversion rate of 123%[2] - AMETEK's total assets as of March 31, 2024, were approximately $14.86 billion, a decrease from $15.02 billion at the end of 2023[14] - Free cash flow (Non-GAAP) for the period was $382,575, compared to $366,530 in the previous year, marking an increase of about 4.4%[16] - Free cash flow conversion (Non-GAAP) improved to 123%, up from 120% year-over-year[16] Future Outlook - AMETEK expects overall sales for 2024 to increase by low double digits compared to 2023, with adjusted earnings per diluted share projected to be between $6.74 and $6.86, reflecting a 6% to 8% increase[5] - For Q2 2024, AMETEK anticipates sales growth in the mid to high single digits, with adjusted earnings expected to be between $1.63 and $1.65 per share, up 4% to 5% year-over-year[6] Strategic Focus - AMETEK's strategic focus includes operational excellence, new product development, global market expansion, and strategic acquisitions to drive double-digit earnings growth[8] Segment Performance - EMG Segment operating income (GAAP) for the three months ended March 31, 2024, was $90,691, down from $120,504 in the same period last year, reflecting a decrease of approximately 24.7%[16] - EMG Segment operating margin (GAAP) decreased to 15.7% from 25.1% in the prior year, a decline of 9.4 percentage points[16] - Adjusted Core Operating income margin (Non-GAAP) was 27.2%, an increase from 25.4% year-over-year, reflecting a growth of 1.8 percentage points[16] Non-GAAP Financial Measures - The company emphasizes the importance of non-GAAP financial measures to provide investors with a clearer understanding of long-term profitability trends and operational decision-making[18]

Core Insights - Ametek reported quarterly earnings of $1.64 per share, exceeding the Zacks Consensus Estimate of $1.59 per share, and up from $1.49 per share a year ago, representing an earnings surprise of 3.14% [1] - The company generated revenues of $1.74 billion for the quarter, which fell short of the Zacks Consensus Estimate by 2.23%, compared to $1.6 billion in the same quarter last year [1] - Ametek has surpassed consensus EPS estimates in all four of the last quarters and has topped revenue estimates twice in the same period [1] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.66, with expected revenues of $1.84 billion, while the estimate for the current fiscal year is $6.82 on revenues of $7.37 billion [4] - The trend of estimate revisions for Ametek is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [4] Industry Context - Ametek operates within the Zacks Electronics - Testing Equipment industry, which is currently ranked in the top 12% of over 250 Zacks industries, suggesting a positive outlook for the sector [5] - The performance of Ametek's stock may be influenced by the overall industry outlook, as research indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [5]

Core Viewpoint - AMETEK, Inc. is expected to report first-quarter 2024 results on May 2, with anticipated sales growth in the low-double digits and adjusted earnings growth of 5-7% from the previous year [1][2]. Sales and Earnings Expectations - The Zacks Consensus Estimate for AMETEK's sales is $1.78 billion, reflecting an increase of 11.2% from the year-ago quarter [1]. - Adjusted earnings are expected to be between $1.56 and $1.60 per share, indicating a growth of 5-7% from the prior-year quarter [1]. - The Zacks Consensus Estimate for earnings is $1.59 per share, implying a growth of 6.7% from the previous year [1]. Segment Performance - The Electronic Instruments Group (EIG) segment is projected to see sales of $1.19 billion, representing a growth of 6.2% year-over-year, driven by acquisitions such as Navitar, Alphasense, Magnetrol International, and Crank Software [2]. - The Electromechanical Group (EMG) segment is expected to report sales of $590 million, indicating a significant growth of 22.9% from the year-ago quarter, supported by rising demand for precision motion-control solutions [2]. Growth Strategies and Challenges - AMETEK's performance is anticipated to benefit from effective execution of core growth strategies, including operational excellence, global market expansion, and investments in product development and acquisitions [3]. - However, economic uncertainties and high goodwill from aggressive acquisition strategies, along with rising geopolitical tensions, may pose challenges to the upcoming results [3]. Earnings Prediction Model - The current model does not predict a definitive earnings beat for AMETEK, as it holds a Zacks Rank 2 and an Earnings ESP of 0.00% [4].

- Earnings to be released before market opens on Thursday, May 2, 2024 - BERWYN, Pa., April 15, 2024 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) will issue its first quarter 2024 earnings release before the market opens on Thursday, May 2, 2024. AMETEK will webcast its first quarter 2024 investor conference call on Thursday, May 2, 2024, beginning at 8:30 AM ET. The live audio webcast can be accessed by clicking on the Events & Presentations link in the "Investors" section of www.ametek.com. A replay of the ca ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Ametek (AME) , which belongs to the Zacks Electronics - Testing Equipment industry.This maker of electronic instruments and electromechanical devices has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 3.75%.For the most recent quarter, Ametek was expecte ...

A month has gone by since the last earnings report for Ametek (AME) . Shares have added about 8.2% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Ametek due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. AMETEK Beats Q4 Earnings EstimatesAMETEK reported fourth-quart ...

Investors interested in stocks from the Electronics - Testing Equipment sector have probably already heard of Fortive (FTV) and Ametek (AME) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, w ...

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Ametek (AME) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.Ametek is one of 621 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________ FORM 10-K _____________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-12981 _____________________ | --- | |------------------------------------ ...

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