Loading...
•
Sep 30, 2024
AMETEK Q3 2024 Earnings Report
AMETEK delivered excellent results in the third quarter with double digit orders growth, outstanding operating performance, excellent cash flow conversion, and earnings ahead of expectations.
Key Takeaways
AMETEK's third quarter 2024 sales were $1.71 billion, a 5% increase over the third quarter of 2023. On a GAAP basis, third quarter earnings per diluted share were $1.47. Adjusted earnings in the quarter were $1.66 per diluted share, up 1% from the third quarter of 2023.
Third quarter sales were $1.71 billion, a 5% increase over the third quarter of 2023.
Operating income increased 2% to $445.9 million and operating margins were 26.1%.
Operating cash flow in the quarter was $487.2 million, up 3% versus the prior year, with free cash flow to net income conversion of 135%.
Adjusted earnings in the quarter were $1.66 per diluted share, up 1% from the third quarter of 2023.
Revenue by Segment
Forward Guidance
For 2024, AMETEK continues to expect overall sales to be up between 5% and 7% compared to 2023. Adjusted diluted earnings per share are now expected to be in the range of $6.77 to $6.82, up 6% to 7% versus the prior year. For the fourth quarter of 2024, overall sales are expected to be up mid-single digits on a percentage basis compared to the same period last year. Adjusted earnings in the quarter are anticipated to be in the range of $1.81 to $1.86, up 8% to 11% compared to the fourth quarter of 2023.
Positive Outlook
- Overall sales expected to be up between 5% and 7% compared to 2023.
- Adjusted diluted earnings per share are now expected to be in the range of $6.77 to $6.82, up 6% to 7% versus the prior year.
- Overall sales are expected to be up mid-single digits on a percentage basis compared to the same period last year.
- Adjusted earnings in the quarter are anticipated to be in the range of $1.81 to $1.86.
- Adjusted earnings are up 8% to 11% compared to the fourth quarter of 2023
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
Loading earnings performance data...
Loading earnings reaction data...