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Sep 30, 2023
AMETEK Q3 2023 Earnings Report
AMETEK delivered strong Q3 2023 results, driven by exceptional operating performance, robust margin expansion, and strong cash flows.
Key Takeaways
AMETEK's Q3 2023 sales increased by 5% to $1.62 billion. Operating income rose by 14% to a record $438.1 million, with operating margins at a record 27.0%. GAAP earnings per diluted share were $1.47, while adjusted earnings per diluted share reached a record $1.64, up 13% from the previous year.
Sales increased by 5% compared to Q3 2022.
Operating income increased by 14% to a record $438.1 million.
Operating margins were a record 27.0%, up 220 basis points from Q3 2022.
Adjusted earnings per diluted share were a record $1.64, up 13% from Q3 2022.
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. Adjusted diluted earnings per share are now expected to be in the range of $6.31 to $6.33. For the fourth quarter, overall sales are expected to be up mid-single digits, with adjusted earnings per diluted share anticipated to be in the range of $1.61 to $1.63.
Positive Outlook
- Overall sales expected to be up mid-to-high single digits for 2023.
- Adjusted diluted earnings per share are now expected to be in the range of $6.31 to $6.33.
- Overall sales in the fourth quarter are expected to be up mid-single digits.
- Fourth quarter adjusted earnings per diluted share are anticipated to be in the range of $1.61 to $1.63.
- Increase of approximately 11% over the comparable basis for 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income