AMETEK Inc. AME is a leading worldwide manufacturer of electronic appliances and electromechanical devices. AMETEK sells its products globally through two major operating groups, the Electronic Instruments Group (“EIG”) and the Electromechanical Group (“EMG”).
AMETEK’s strong execution of its four core growth strategies of operational excellence, global market expansion, new product development, and strategic acquisitions continues to play an important role in driving its growth. This in combination with its excellent backlog and strong portfolio of businesses will help the company post better results in the upcoming quarter.
Due to this, investors are eagerly awaiting AMETEK’s earnings report in order to set the record straight and to give some guidance on where this company is heading and are these factors effectively contributing.
The stock has seen two negative revisions over the past month versus no revision in the opposite direction.
AMETEK INC Price
Currently, AME has a Zacks Rank #4 (Sell), but that could definitely change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings:AME reported earnings of 56 cents which beat the The Zacks Consensus Estimate by a penny.
Revenue:AMETEK missed on revenues. It posted revenues of $945 million, compared to our consensus estimate of $957 million.
Key Stats:The company’s top-line performance was negatively impacted by reduced demand resulting from weakness in oil and gas and metals markets.
Check back later for our full write up on this AME earnings report later!
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