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Ametek: Q2 Earnings Snapshot
By AP News - Aug 01, 2024, 10:18 AM ET
Last Updated - Aug 01, 2024, 10:18 AM EDT
BERWYN, Pa. (AP) — BERWYN, Pa. (AP) — Ametek Inc. (AME) on Thursday reported second-quarter net income of $337.7 million.
On a per-share basis, the Berwyn, Pennsylvania-based company said it had net income of $1.45. Earnings, adjusted for amortization costs, came to $1.66 per share.
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The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.64 per share.
The maker of electronic instruments and electromechanical devices posted revenue of $1.73 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $1.77 billion.
For the current quarter ending in September, Ametek expects its per-share earnings to range from $1.60 to $1.62.
The company expects full-year earnings in the range of $6.70 to $6.80 per share.
Ametek shares have climbed 5% since the beginning of the year, while the S&P's 500 index has climbed 16%. The stock has increased slightly more than 9% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AME at https://www.zacks.com/ap/AME
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