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Ametek (AME) Beats on Earnings, Revenues in Q2

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 continues to see solid growth across its Ultra Precision Technologies business. This, in combination with a strong portfolio of differentiated businesses, is expected to 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.

For the current year, AMETEK witnessed one positive estimate revision in the last 30 days and no negative revisions.

Currently, AME has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank stocks here.

We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: AME reported earnings of 65 cents per share which surpassed the Zacks Consensus Estimate of 62 cents per share.

Revenue: AMETEK beats on revenues. It posted revenues of $1.06 billion, compared to our consensus estimate of $1.03 billion.

Key Stats: The company’s top-line performance improved on robust organic growth and contributions from acquisitions completed recently.

AMTEK, Inc. Price and EPS Surprise

 

AMTEK, Inc. Price and EPS Surprise | AMTEK, Inc. Quote

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

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