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Ametek (AME) Q1 Earnings In Line, Revenues Miss Estimates

AMETEK Inc. AME is a leading worldwide manufacturer of electronic appliances and electromechanical devices. AMETEK sells its products globally through two major operating groups, the Electronic Instruments Group (“EIG”) and the Electromechanical Group (“EMG”). 

AMETEK’s strong execution of its four core growth strategies of operational excellence, global market expansion, new product development, and strategic acquisitions continues to play an important role in driving its growth. This in combination with its excellent backlog and strong portfolio of businesses will help the company post better results in the upcoming quarter.

Due to this, investors are eagerly awaiting AMETEK’s earnings report in order to set the record straight and to give some guidance on where this company is heading and are these factors effectively contributing.

However, recent earnings estimate revision activity for AME has been limited as the consensus estimate for the stock has seen just one negative revision over the past month.

Currently, AME has a Zacks Rank #4 (Sell), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: AME reported earnings of 57 cents which are in-line with The Zacks Consensus Estimate.

Revenue: AMETEK missed on revenues. It posted revenues of $944.4 million, compared to our consensus estimate of $964.5 million.

Key Stats: The company’s top-line performance was negatively impacted by reduced demand resulting from weakness in oil and gas, metals and global industrial markets.

Check back later for our full write up on this AME earnings report later!

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AMETEK INC (AME): Free Stock Analysis Report
 
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