AMETEK Q3 2023 Earnings Report
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
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