Ametek Earnings: Here’s Why the Stock is Down Now
Ametek Inc. (NYSE:AME) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.29%.
Ametek Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 17.78% to $0.53 in the quarter versus EPS of $0.45 in the year-earlier quarter.
Revenue: Rose 6.74% to $882.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Ametek Inc. reported adjusted EPS income of $0.53 per share. By that measure, the company beat the mean analyst estimate of $0.51. It missed the average revenue estimate of $905.82 million.
Quoting Management: “AMETEK achieved solid results in the first quarter with sales, operating income, net income and diluted earnings per share at record levels. While end market demand remains tepid, our team executed extremely well on Operational Excellence initiatives, which led to strong results in the quarter,” noted Frank S. Hermance, AMETEK Chairman and Chief Executive Officer.
Key Stats (on next page)…
Revenue increased 4.88% from $841.79 million in the previous quarter. EPS increased 8.16% from $0.49 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.53 and has not changed. For the current year, the average estimate has moved up from a profit of $2.11 to a profit of $2.12 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)