AMETEK Q3 2022 Earnings Report
Key Takeaways
AMETEK reported record third quarter sales of $1.55 billion, an 8% increase over the third quarter of 2021, with organic sales growth of 11%. GAAP earnings per diluted share were $1.29, and adjusted earnings were a record $1.45 per diluted share, up 15% from the third quarter of 2021.
Record third quarter sales of $1.55 billion, an 8% increase year-over-year.
Organic sales growth of 11%.
Operating income increased 14% to a record $384.5 million.
Adjusted earnings per diluted share were a record $1.45, up 15% year-over-year.
AMETEK
AMETEK
AMETEK Revenue by Segment
Forward Guidance
For 2022, AMETEK now expects overall sales to be up approximately 10% compared to 2021. Adjusted diluted earnings per share are expected to be in the range of $5.61 to $5.63, an increase of 16% over the comparable basis for 2021. We expect overall sales in the fourth quarter to be up mid-single digits on a percentage basis versus the prior year. Fourth quarter adjusted earnings per diluted share are anticipated to be in the range of $1.45 to $1.47, up 6% to 7% compared to the fourth quarter of 2021.
Positive Outlook
- Overall sales to be up approximately 10% compared to 2021.
- Adjusted diluted earnings per share are expected to be in the range of $5.61 to $5.63, an increase of 16% over the comparable basis for 2021.
- Overall sales in the fourth quarter to be up mid-single digits on a percentage basis versus the prior year.
- Fourth quarter adjusted earnings per diluted share are anticipated to be in the range of $1.45 to $1.47.
- Increase of 6% to 7% compared to the fourth quarter of 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income