Ametek (AME) Tops Q2 EPS by 3c, Offers Q3 and FY Outlook

Ametek (NYSE: AME) reported Q2 EPS of $0.65, $0.03 better than the analyst estimate of $0.62. Revenue for the quarter came in at $1.06 billion versus the consensus estimate of $1.04 billion.

GUIDANCE:

Ametek sees FY2017 EPS of $2.46-$2.52, versus the consensus of $2.48.

Ametek sees Q3 EPS of $0.60-$0.62, versus the consensus of $0.61.

"We are very encouraged by the excellent first half results. Sales and order growth has been strong and broad based. We are executing very well and generating strong cash flow, which we will continue to invest back into our businesses and on strategic acquisitions. While our performance reflects, in part, improving macro-economic conditions, it also highlights the underlying quality of our businesses and the strength of our Growth Strategies," commented Mr. Zapico.

"As a result of the second quarter performance, we are increasing our sales and earnings guidance for the full year. We now anticipate 2017 sales to increase high-single digits on a percentage basis, with organic sales up low to mid-single digits. We are increasing our 2017 earnings guidance range to $2.46 to $2.52 per diluted share, up 7% to 10% over 2016 adjusted diluted earnings per share. This is an increase from our previous range of $2.40 to $2.48 per diluted share," he added.

"For the third quarter, we anticipate sales will increase approximately 10% compared to the same period last year. We expect our earnings to be approximately $0.60 to $0.62 per diluted share, up 7% to 11% versus the third quarter of 2016," concluded Mr. Zapico.

For earnings history and earnings-related data on Ametek (AME) click here.

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