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The Zacks Electronics – Testing Equipment industry has been benefiting from 5G-related growth opportunities, strengthening automation drive and the Industry 4.0 momentum for a while. A strong recovery in the automotive sector, along with the growing proliferation of self-driving vehicles and solid prospects of the Advanced Driver Assistance System, is a tailwind for the industry players. The increasing adoption of software-enabled testing instruments and devices is another positive. Industry participants li ...

BERWYN, Pa., Aug. 8, 2024 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) today announced the appointment of John C. Henriques as Vice President, Corporate Development."I am very pleased to announce John's promotion to this important role, as he has been a valuable contributor to our Corporate Development team," commented David A. Zapico, AMETEK Chairman and Chief Executive Officer. "His extensive acquisitions experience and proven leadership within AMETEK, make him exceptionally well-suited for this role. We look ...

BERWYN, Pa., Aug. 8, 2024 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) today announced the appointment of Vinatha Nathan as Vice President and General Manager, MCT Division."I am pleased to announce Vinatha's appointment as Vice President and General Manager, MCT Division," commented David A. Zapico, AMETEK Chairman and Chief Executive Officer. "Vinatha's strong operational background and proven leadership capabilities will greatly contribute to the ongoing growth and success of the division."Ms. Nathan brings ...

AMETEK, Inc. (NYSE:AME) Q2 2024 Earnings Conference Call August 1, 2024 8:30 AM ET Company Participants Kevin Coleman - VP, IR and Treasurer Dave Zapico - Chairman and CEO Dalip Puri - EVP and CFO Conference Call Participants Matt Summerville - D.A. Davidson Deane Dray - RBC Capital Markets Jamie Cook - Truist Securities Jeff Sprague - Vertical Research Scott Graham - Seaport Research Rob Wertheimer - Melius Research Joe Giordano - TD Cowen Andrew Obin - Bank of America Steve Barger - KeyBanc Capital Market ...

Financial Performance - Consolidated net sales for Q2 2024 were $1,734.8 million, an increase of $88.7 million or 5.4% compared to Q2 2023's $1,646.1 million[89] - Total international sales for Q2 2024 were $790.0 million, representing 45.5% of net sales, a slight increase of $3.7 million or 0.5% from Q2 2023[89] - Orders for Q2 2024 were $1,677.2 million, an increase of $22.8 million or 1.4% compared to Q2 2023, with a backlog of unfilled orders at $3,403.0 million, down 3.7% from December 31, 2023[90] - Segment operating income for Q2 2024 was $473.0 million, an increase of $29.7 million or 6.7% from Q2 2023, with operating margins at 27.3%[91] - Consolidated operating income for Q2 2024 was a record $447.5 million, or 25.8% of net sales, up $28.7 million or 6.9% from Q2 2023[94] - Net income for Q2 2024 was $337.7 million, an increase of $13.5 million or 4.1% compared to Q2 2023's $324.2 million[95] - Diluted earnings per share for Q2 2024 were $1.45, an increase of $0.05 or 3.6% from $1.40 in Q2 2023[95] Tax and Interest - The effective tax rate for Q2 2024 was 19.0%, up from 18.2% in Q2 2023, primarily due to higher U.S. taxes on foreign sourced earnings[95] - Interest expense for Q2 2024 was $30.6 million, an increase of $11.9 million or 63.4% compared to Q2 2023, driven by higher borrowings related to acquisitions[94] Year-to-Date Performance - For the first six months of 2024, net sales were $3,471.0 million, an increase of $227.8 million or 7.0% compared to the same period in 2023[99] - EIG's net sales for the first six months of 2024 reached $2,310.4 million, a 2.6% increase from $2,251.9 million in the same period of 2023, driven by a 2% increase from acquisitions[106] - EIG's operating income increased by 13.9% to $702.8 million for the first six months of 2024, compared to $616.8 million in the first six months of 2023, with operating margins improving to 30.4% from 27.4%[106] - EMG's net sales totaled $1,160.6 million for the first six months of 2024, marking a 17.1% increase from $991.3 million in the same period of 2023, primarily due to a 22% increase from acquisitions[107] - EMG's operating income decreased by 16.7% to $213.8 million for the first six months of 2024, down from $256.7 million in the same period of 2023, with operating margins declining to 18.4% from 25.9%[108] Cash Flow and Dividends - Cash provided by operating activities increased by 9.7% to $791.7 million for the first six months of 2024, compared to $721.8 million in the same period of 2023[109] - Free cash flow for the first six months of 2024 was $742.6 million, up from $673.9 million in the same period of 2023[109] - Cash dividends paid increased to $129.4 million for the first six months of 2024, compared to $115.1 million in the same period of 2023, reflecting a 12% increase in the quarterly cash dividend[113] Debt and Liquidity - Total debt decreased to $2,651.4 million at June 30, 2024, down from $3,313.3 million at December 31, 2023, with a debt-to-capital ratio of 22.3%[111] - Cash and cash equivalents totaled $396.6 million at June 30, 2024, slightly down from $409.8 million at December 31, 2023[114] Strategic Focus - The company is focused on future acquisitions and product development, while maintaining compliance with all financial covenants[116]

AMETEK, Inc. (AME) has reported second-quarter 2024 adjusted earnings of $1.66 per share, beating the Zacks Consensus Estimate by 1.2%. The bottom line rose 6% on a year-over-year basis.Net sales of $1.73 billion increased 5% from the year-ago quarter. However, the figure missed the Zacks Consensus Estimate of $1.77 billion.Top-line growth was primarily driven by the solid performance of the Electromechanical Group (EMG) segment. Also, strength in the Electronic Instruments Group (EIG) segment contributed w ...

Exhibit 99.1 AMETEK Announces Second Quarter Results Berwyn, Pa., August 1, 2024 – AMETEK, Inc. (NYSE: AME) today announced its financial results for the second quarter ended June 30, 2024. AMETEK's second quarter 2024 sales were $1.73 billion, a 5% increase over the second quarter of 2023. Operating income increased 7% to a record $447.5 million and operating margins were 25.8%, up 40 basis points from the second quarter of 2023. Operating cash flow in the quarter was $381.4 million, up 14% versus the prio ...

For the quarter ended June 2024, Ametek (AME) reported revenue of $1.73 billion, up 5.4% over the same period last year. EPS came in at $1.66, compared to $1.57 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.77 billion, representing a surprise of -2.23%. The company delivered an EPS surprise of +1.22%, with the consensus EPS estimate being $1.64.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectatio ...

Ametek (AME) came out with quarterly earnings of $1.66 per share, beating the Zacks Consensus Estimate of $1.64 per share. This compares to earnings of $1.57 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.22%. A quarter ago, it was expected that this maker of electronic instruments and electromechanical devices would post earnings of $1.59 per share when it actually produced earnings of $1.64, delivering a surprise of 3.14% ...