Yahoo Finance AMETEK Earnings: What To Look For From AME
Electronic products manufacturer AMETEK (NYSE:AME) will be reporting earnings tomorrow before the bell. Here's what to expect.
AMETEK missed analysts' revenue expectations by 2.4% last quarter, reporting revenues of $1.74 billion, up 8.7% year on year. It was a weak quarter for the company, with 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 8.2% year on year to $1.78 billion, in line with the 8.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.64 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 three times over the last two years.
Looking at AMETEK's peers in the electrical equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Corning delivered year-on-year revenue growth of 3.5%, meeting analysts' expectations, and Badger Meter reported revenues up 23.2%, topping estimates by 6.5%. Badger Meter traded up 3.7% following the results.
Read our full analysis of Corning's results here and Badger Meter's results here.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 9.4% on average over the last month. AMETEK is up 3.8% during the same time and is heading into earnings with an average analyst price target of $191.7 (compared to the current share price of $172.35).
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