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Stock impact report

AMETEK Announces Record First Quarter Results and Raises 2024 Guidance

AMETEK, Inc. (AME) 
Last ametek, inc. earnings: 2/5 06:55 am Check Earnings Report
Company Research Source: PR Newswire
BERWYN, Pa., May 2, 2024 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) today announced its financial results for the first quarter ended March 31, 2024.AMETEK's first quarter 2024 sales were a record $1.74 billion, a 9% increase over the first quarter of 2023. On a GAAP basis, first quarter earnings per diluted share were $1.34. Adjusted earnings in the quarter were $1.64 per diluted share, up 10% from the first quarter of 2023. Adjusted earnings adds back non-cash, after-tax, acquisition-related intangible amortization of $0.21 per diluted share and excludes a pre-tax $29.2 million, or $0.10 per diluted share, charge for integration costs related to the Paragon Medical acquisition.GAAP operating income was $417.2 million, or 24.0% of sales. Excluding the Paragon Medical charge, adjusted operating income was a record $446.4 million, up 10% versus last year's first quarter, with adjusted operating margins of 25.7%, up 30 basis points from the first quarter of 2023. A reconciliation of repor Show less Read more
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