AMETEK Q2 2023 Earnings Report
Key Takeaways
AMETEK reported record second-quarter results, with sales reaching $1.65 billion, a 9% increase year-over-year. Operating income rose by 15% to $418.8 million, and adjusted earnings per share reached a record $1.57, up 14% from the previous year. The company also raised its full-year earnings guidance.
Record second quarter sales of $1.65 billion, a 9% increase year-over-year.
Operating income increased by 15% to a record $418.8 million.
Adjusted earnings per share reached a record $1.57, up 14% from the second quarter of 2022.
Full-year earnings guidance raised based on strong results and outlook.
AMETEK
AMETEK
AMETEK Revenue by Segment
Forward Guidance
AMETEK expects overall sales to be up mid-to-high single digits for 2023 and anticipates third quarter adjusted earnings per diluted share to be in the range of $1.56 to $1.58, up 8% to 9% compared to the third quarter of 2022.
Positive Outlook
- Overall sales expected to be up mid-to-high single digits compared to 2022.
- Adjusted diluted earnings per share expected to be in the range of $6.18 to $6.26 for the full year, an increase of 9% to 10% over the comparable basis for 2022.
- Overall sales in the third quarter expected to be up mid-single digits on a percentage basis versus the prior year.
- Third quarter adjusted earnings per diluted share are anticipated to be in the range of $1.56 to $1.58.
- Third quarter adjusted earnings per diluted share are anticipated to be up 8% to 9% compared to the third quarter of 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income