Ametek (AME) Tops Q4 EPS by 5c, Offers FY Guidance

Ametek (NYSE: AME) reported Q4 EPS of $1.08, $0.05 better than the analyst estimate of $1.03. Revenue for the quarter came in at $1.3 billion versus the consensus estimate of $1.34 billion.

GUIDANCE:

Ametek sees FY2020 EPS of $4.24-$4.38, versus the consensus of $4.36.

"While uncertainties remain in the global economy, the AMETEK Growth Model provides our businesses with the operational agility to adapt to changing economic environments. We are poised to deliver another year of solid growth and strong operating performance through continued productivity and asset-management improvements," noted Mr. Zapico.

"Given our robust cash flows and financial strength, we are well-positioned to continue investing in our growth initiatives and acquiring companies in attractive, niche markets to deliver long-term, sustainable success for our shareholders."

"For 2020, we expect overall sales to be up low single digits on a percentage basis compared to 2019. Organic sales for the year are expected to be roughly flat versus the prior year. Adjusted earnings per diluted share are expected to be in the range of $4.24 to $4.38, an increase of 1% to 5% over the prior year's comparable basis. Our full year guidance assumes the Reading Alloys business is divested in the first quarter and excludes the gain on the anticipated sale," he added.

"For the first quarter of 2020, overall sales are expected to be up low single digits versus the first quarter of 2019. Adjusted earnings for the first quarter are anticipated to be in the range of $1.01 to $1.04 per share, up 1% to 4% over the prior year comparable basis," concluded Mr. Zapico.

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

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