Ametek (AME) Tops Q1 EPS by 6c, Offers Guidance

Ametek (NYSE: AME) reported Q1 EPS of $1.33, $0.06 better than the analyst estimate of $1.27. Revenue for the quarter came in at $1.46 billion versus the consensus estimate of $1.46 billion.

GUIDANCE:

Ametek sees FY2022 EPS of $5.34-$5.44, versus the consensus of $5.43.

• "AMETEK's performance in the first quarter reflects the strength of the AMETEK Growth Model. We remain well positioned to manage successfully in an uncertain environment including supply chain constraints, increased inflation, and the impacts of COVID-19 lockdowns in China. Despite these headwinds we continue to deliver strong and sustainable performance for all stakeholders," continued Mr. Zapico.
• "For 2022, we expect overall sales to be up high-single digits compared to 2021. Adjusted diluted earnings per share are now expected to be in the range of $5.34 to $5.44, an increase of 10% to 12% over the comparable basis for 2021. This is an increase from our previous guidance range of $5.30 to $5.42 per diluted share," he added.

Ametek sees Q2 2022 EPS of $1.27-$1.30, versus the consensus of $1.32.

• "We expect overall sales in the second quarter to be up low to mid-single digits versus the prior year. Adjusted earnings per diluted share are anticipated to be in the range of $1.27 to $1.30, up 10% to 13% compared to the second quarter of 2021," concluded Mr. Zapico.

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

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