AMETEK Q2 2020 Earnings Report
Key Takeaways
AMETEK reported a 22% decline in sales compared to the second quarter of 2019, but managed to deliver strong performance exceeding expectations. The company achieved record adjusted EBITDA margins and bolstered its balance sheet with outstanding cash generation. While sales were impacted by the pandemic, AMETEK's operating execution and focus on cash generation positioned it well for future growth and acquisitions.
Second quarter sales were $1.01 billion, a 22% decrease compared to the prior year.
GAAP earnings per diluted share were $0.72, while adjusted earnings per diluted share were $0.84.
Operating cash flow increased by 28% to $315 million compared to the prior-year period.
Record adjusted EBITDA margins were achieved at 28.6%.
AMETEK
AMETEK
AMETEK Revenue by Segment
Forward Guidance
Given the on-going uncertainty related to the spread of COVID-19 and the effect that may have across economies, AMETEK will not be providing guidance at this time. Forward guidance will be provided when visibility improves.
Revenue & Expenses
Visualization of income flow from segment revenue to net income