Ametek (AME) Tops Q1 EPS by 7c, Beats on Revenues; Boosts FY18 Outlook

Ametek (NYSE: AME) reported Q1 EPS of $0.79, $0.07 better than the analyst estimate of $0.72. Revenue for the quarter came in at $1.17 billion versus the consensus estimate of $1.12 billion.

2018 Outlook

"The first quarter\'s results were excellent and firmly position AMETEK for strong sales and earnings growth in 2018. Our businesses continue to deliver exceptional performance, generating excellent sales growth, margin expansion and cash flows through the execution of our Four Growth Strategies. We remain focused on strategically investing in our businesses to accelerate growth both organically and through value enhancing strategic acquisitions," commented Mr. Zapico.

"We now expect overall sales in 2018 to increase low-double digits on a percentage basis, with organic sales up mid-single digits. We are increasing our 2018 earnings guidance range to $3.06 to $3.12 per diluted share, up 17% to 20% over 2017\'s adjusted diluted earnings per share. This is an increase from our initial guidance range of $2.95 to $3.05 per diluted share," he added.

"Overall sales in the second quarter of 2018 are expected to be up approximately 10% compared to the same quarter in 2017. We expect second quarter earnings per diluted share to be in the range of $0.76 to $0.78, up 17% to 20% over the same quarter last year," concluded Mr. Zapico.

GUIDANCE:

Ametek sees FY2018 EPS of $3.06-$3.12.

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

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