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Sep 30, 2020
AMETEK Q3 2020 Earnings Report
Announced third quarter results and provided fourth quarter 2020 guidance.
Key Takeaways
AMETEK's third quarter 2020 sales were $1.13 billion, a 12% decline compared to the third quarter of 2019. Operating income in the quarter was $270.7 million and operating margins were a record 24.0%. On a GAAP basis, third quarter earnings per diluted share were $0.88. Adjusted earnings in the quarter were $1.01 per diluted share.
Delivered record operating margins as well as EBITDA margins of 29.5%.
Operating cash flow in the quarter was $310 million.
Free cash flow conversion of 146% of net income.
Reinstated quarterly guidance.
Revenue by Segment
Forward Guidance
For the fourth quarter, we expect solid sequential improvements in sales versus the third quarter with year-over-year sales down high single digits on a percentage basis compared to last year’s fourth quarter. We anticipate fourth quarter adjusted earnings will be in the range of $1.00 to $1.04 per diluted share.
Positive Outlook
- Expect solid sequential improvements in sales versus the third quarter
Challenges Ahead
- Year-over-year sales down high single digits on a percentage basis compared to last year’s fourth quarter
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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