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Jun 30, 2023
AMETEK Q2 2023 Earnings Report
AMETEK announced record sales, operating income, and adjusted earnings per share, exceeding expectations due to strong sales growth and operating performance.
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
Revenue by Segment
Electronic Instruments Revenue
CapyFin.comElectromechanical Revenue
CapyFin.com 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