Financial News
AMETEK (AME) To Report Earnings Tomorrow: Here Is What To Expect
Electronic products manufacturer AMETEK (NYSE:AME) will be reporting earnings tomorrow morning. Here’s what to expect.
AMETEK missed analysts’ revenue expectations by 2.6% last quarter, reporting revenues of $1.73 billion, up 5.4% year on year. It was a slower quarter for the company, with underwhelming earnings guidance for the next quarter and a miss of analysts’ organic revenue estimates.
Is AMETEK a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting AMETEK’s revenue to grow 5.6% year on year to $1.71 billion, in line with the 4.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.62 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. AMETEK has missed Wall Street’s revenue estimates four times over the last two years.
Looking at AMETEK’s peers in the electrical equipment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Vicor’s revenues decreased 13.6% year on year, beating analysts’ expectations by 9.3%, and OSI Systems reported revenues up 23.2%, topping estimates by 8%. Vicor traded up 13.9% following the results while OSI Systems was down 5.5%.
Read our full analysis of Vicor’s results here and OSI Systems’s results here.
Investors in the electrical equipment segment have had steady hands going into earnings, with share prices flat over the last month. AMETEK’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $187.07 (compared to the current share price of $167.49).
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