NYSE$AME
AMETEK Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
AMETEK's second quarter performance was strong, marked by core margin expansion, record operating income and EBITDA, and earnings growth exceeding expectations.
AMETEK reported a 5% increase in sales to $1.73 billion. Operating income increased 7% to a record $447.5 million. GAAP earnings per diluted share were $1.45, and adjusted earnings were $1.66 per diluted share, up 6% from the previous year.
- Sales increased by 5% compared to the second quarter of 2023.
- Operating income reached a record $447.5 million, a 7% increase.
- Operating margins improved by 40 basis points to 25.8%.
- Adjusted earnings per diluted share increased by 6% to $1.66.
Headline financials
Revenue & EPS history
AMETEK · Revenue · Quarterly
$1.73B
Revenue by segment
AMETEK · $1.62B total across 2 segments · Q3 2023
- Electronic Instruments$1.14B+7.8%70.0%
- Electromechanical$487M-2.2%30.0%
Forward guidance
AMETEK adjusts its sales and earnings guidance for 2024 due to the impact of inventory normalization and customer caution.
Tailwinds
- Overall sales are expected to be up between 5% and 7% compared to 2023.
- Adjusted earnings per diluted share are expected to be in the range of $6.70 to $6.80, up 5% to 7% over the comparable basis for 2023.
- Company remains confident in its ability to successfully manage through near-term demand headwinds.
- Company will deliver strong operating performance and cash flows.
- AMETEK is well positioned for strong growth and profitability.
Headwinds
- Impact of inventory normalization within OEM customer base will continue through the balance of 2024.
- Customers are turning more cautious leading to some short-term delays in project spending.
- For the third quarter of 2024, overall sales are expected to be up mid-single digits on a percentage basis compared to the same period last year.
- Adjusted earnings in the third quarter of 2024 are anticipated to be in the range of $1.60 to $1.62, down 1% to 2% compared to the third quarter of 2023.
- Slower growth environment
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+0.4%
Avg return
Earnings day
+2.0%
Avg return
5 days after
+3.8%
Avg return
30 days after
66%
48 / 73 earnings
Positive
+8.3%
Q3 2018
Best reaction
-12.0%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.2% | +2.9% | -0.8% | |
| Q4 2025 | -2.2% | +1.8% | -0.4% | |
| Q3 2025 | +7.6% | +7.5% | +7.4% | |
| Q2 2025 | +4.6% | +4.6% | +4.5% | |
| Q1 2025 | -1.4% | -1.0% | +5.4% | |
| Q4 2024 | -2.0% | +0.2% | +0.0% | |
| Q3 2024 | +5.6% | +7.8% | +15.1% | |
| Q2 2024 | -12.0% | -9.5% | -1.4% | |
| Q1 2024 | -4.3% | -2.5% | -2.5% | |
| Q4 2023 | -0.2% | +0.9% | +8.7% | |
| Q3 2023 | +1.6% | +2.6% | +10.8% | |
| Q2 2023 | +0.1% | -1.3% | +0.6% | |
| Q1 2023 | +3.8% | +4.1% | +5.5% | |
| Q4 2022 | +0.8% | +1.1% | -0.8% | |
| Q3 2022 | +0.3% | +4.3% | +10.5% | |
| Q2 2022 | +3.2% | +3.2% | -1.6% | |
| Q1 2022 | +0.6% | -2.5% | -2.5% | |
| Q4 2021 | -3.8% | -3.1% | -6.3% | |
| Q3 2021 | +5.2% | +5.1% | +3.6% | |
| Q2 2021 | -1.1% | -1.0% | -1.8% | |
| Q1 2021 | +1.9% | +2.2% | +1.9% | |
| Q4 2020 | +0.4% | +3.8% | +4.9% | |
| Q3 2020 | +0.0% | +7.2% | +22.0% | |
| Q2 2020 | +1.5% | +3.0% | +5.2% | |
| Q1 2020 | +2.6% | +5.8% | +18.3% | |
| Q4 2019 | -0.4% | -0.5% | -10.7% | |
| Q3 2019 | +3.2% | +5.4% | +8.4% | |
| Q2 2019 | +1.2% | -2.3% | -2.8% | |
| Q1 2019 | -1.3% | -1.9% | -7.1% | |
| Q4 2018 | +1.2% | +2.8% | +7.1% | |
| Q3 2018 | +8.3% | +11.3% | +9.5% | |
| Q2 2018 | +1.0% | +0.7% | +0.5% | |
| Q1 2018 | +1.1% | +5.1% | +7.1% | |
| Q4 2017 | +1.2% | -2.1% | -2.3% | |
| Q3 2017 | +0.6% | +1.9% | +7.2% | |
| Q2 2017 | +4.5% | +4.2% | +2.6% | |
| Q1 2017 | +4.0% | +4.5% | +6.8% | |
| Q4 2016 | +1.3% | +3.6% | +4.1% | |
| Q3 2016 | +0.0% | +0.7% | +12.0% | |
| Q2 2016 | -1.4% | +1.1% | +4.9% | |
| Q1 2016 | -8.1% | — | — | |
| Q4 2015 | -4.1% | — | — | |
| Q3 2015 | -3.7% | — | — | |
| Q2 2015 | +1.8% | — | — | |
| Q1 2015 | +0.2% | — | — | |
| Q4 2014 | +0.3% | — | — | |
| Q3 2014 | -0.8% | — | — | |
| Q2 2014 | +3.5% | — | — | |
| Q1 2014 | +0.1% | — | — | |
| Q4 2013 | +0.3% | — | — | |
| Q3 2013 | +3.3% | — | — | |
| Q2 2013 | -3.0% | — | — | |
| Q1 2013 | -1.5% | — | — | |
| Q4 2012 | +3.5% | — | — | |
| Q3 2012 | +3.9% | — | — | |
| Q2 2012 | -6.7% | — | — | |
| Q1 2012 | +2.9% | — | — | |
| Q4 2011 | -0.2% | — | — | |
| Q3 2011 | +4.0% | — | — | |
| Q2 2011 | -9.4% | — | — | |
| Q1 2011 | +3.0% | — | — | |
| Q4 2010 | +1.8% | — | — | |
| Q3 2010 | +2.8% | — | — | |
| Q2 2010 | +0.6% | — | — | |
| Q1 2009 | -5.3% | — | — | |
| Q1 2010 | +0.9% | — | — | |
| Q4 2009 | +2.2% | — | — | |
| Q4 2007 | +2.2% | — | — | |
| Q3 2009 | +2.9% | — | — | |
| Q3 2008 | +2.9% | — | — | |
| Q2 2009 | -2.9% | — | — | |
| Q2 2008 | -2.9% | — | — | |
| Q4 2008 | -2.9% | — | — |
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