Sector: Industrials|Industry: Specialty Industrial Machinery|Market Cap: $41.81B|Employees: 21.5K
AMETEK, Inc. is a global manufacturer of electronic instruments and electromechanical devices. The company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG is a leader in advanced instruments for process, power, industrial, and aerospace markets, while EMG offers precision motion control, thermal management, and specialty metal solutions. AMETEK has a significant market share in targeted niche markets and a global presence with operations in North America, Europe, Asia, and South America.
Net sales reached $1,734.8 million in Q2 2024, up from $1,646.1 million in Q2 2023. This increase was primarily due to an 8% growth from acquisitions, partially offset by a 2% organic sales decline.
Operating income increased to $447.5 million in Q2 2024 from $418.8 million in Q2 2023. However, operating margins were negatively impacted by the dilutive effect of the 2023 acquisitions, despite a 180 basis points increase excluding the dilutive impact.
Diluted earnings per share reached $1.45 in Q2 2024, a 3.6% increase compared to $1.40 in Q2 2023. This is despite the negative impact on margins from recent acquisitions.