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AMETEK
🇺🇸 NYSE:AME
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•
Dec 31, 2020

AMETEK Q4 2020 Earnings Report

AMETEK reported an excellent fourth quarter, delivering record operating results and substantial margin expansion.

Key Takeaways

AMETEK's Q4 2020 sales were $1.20 billion, an 8% decline compared to Q4 2019. Operating income was $298.1 million, up slightly versus last year, with record operating margins of 24.9%. GAAP EPS was $0.95, and adjusted EPS was $1.08. The company reported record levels of cash flow, with operating cash flow up 13% and free cash flow up 16%.

Q4 sales were $1.20 billion, an 8% decrease year-over-year.

Operating income increased slightly to $298.1 million with a record operating margin of 24.9%.

Adjusted EPS was $1.08 per diluted share, equal to Q4 2019.

Operating cash flow increased 13% to $386 million, and free cash flow increased 16% to $349 million.

Total Revenue
$1.2B
Previous year: $1.31B
-8.1%
EPS
$1.08
Previous year: $1.08
+0.0%
Gross Profit
$429M
Previous year: $447M
-4.0%
Cash and Equivalents
$1.21B
Previous year: $393M
+208.6%
Free Cash Flow
$349M
Previous year: $301M
+15.8%
Total Assets
$10.4B
Previous year: $9.84B
+5.2%

AMETEK

AMETEK

AMETEK Revenue by Segment

Forward Guidance

For 2021, AMETEK expects overall sales to be up mid-single digits on a percentage basis compared to 2020. Adjusted earnings per diluted share are expected to be in the range of $4.18 to $4.30, an increase of 6% to 9% over the comparable basis for 2020. For the first quarter of 2021, overall sales are expected to be down low to mid-single digits compared to the same period last year. Adjusted earnings in the quarter are anticipated to be in the range of $0.97 to $1.02 per share.

Positive Outlook

  • Overall sales are expected to be up mid-single digits in 2021 compared to 2020.
  • Adjusted earnings per diluted share are expected to be in the range of $4.18 to $4.30 in 2021.
  • The adjusted EPS represents an increase of 6% to 9% over the comparable basis for 2020.
  • Diverse end markets provide a positive outlook.
  • Record backlog and solid order momentum provide a positive outlook.

Challenges Ahead

  • Uncertainty remains in the market.
  • Overall sales for Q1 2021 are expected to be down low to mid-single digits compared to the same period last year.
  • The ongoing impacts of the COVID-19 pandemic.
  • Topline was negatively impacted by the divestiture of Reading Alloys
  • Topline was negatively impacted by weaker demand due to the global pandemic

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View AMETEK