Electronic products manufacturer AMETEK (NYSE: AME) will be reporting earnings this Tuesday morning. Here’s what to expect.
AMETEK beat analysts’ revenue expectations last quarter, reporting revenues of $2.04 billion, up 15% year on year. It was a very strong quarter for the company, with full-year EPS guidance slightly topping analysts’ expectations and a beat of analysts’ EPS estimates.
Is AMETEK a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting AMETEK’s revenue to grow 14% year on year, improving from the 10.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. AMETEK has missed Wall Street’s revenue estimates multiple 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. Bloom Energy delivered year-on-year revenue growth of 138%, beating analysts’ expectations by 14.6%, and Vertiv reported revenues up 61.2%, topping estimates by 14.5%. Bloom Energy traded down 11.2% following the results while Vertiv was up 17.7%.
Read our full analysis of Bloom Energy’s results here and Vertiv’s results here.
Over the last year or so, investors' attention has moved from one major market theme to the next, spanning AI disruption and surging infrastructure investment to geopolitical tensions, interest rates, and the health of the broader economy. While some of the electrical equipment stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 3% on average over the last month. AMETEK is down 3.9% during the same time and is heading into earnings with an average analyst price target of $282.06 (compared to the current share price of $242.19).
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