AMETEK (AME) to Report Q2 Earnings: What's in the Cards?
AMETEK, Inc. AME is scheduled to report second-quarter 2023 results on Aug 1.
For the second quarter, AMETEK expects sales growth in the mid- to high-single digits from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for sales is pegged at $1.64 billion, suggesting growth of 8.5% from the year-ago quarter’s reported figure.
AMETEK anticipates adjusted earnings of $1.49-$1.51 per share, suggesting growth of 8-9% from the year-ago quarter’s reported number. The Zacks Consensus Estimate for earnings is pegged at $1.52 per share, implying growth of 10.1% from the prior-year quarter’s reported number.
Earnings beat estimates in each of the trailing four quarters, the average being 5.47%.
AMETEK, Inc. Price and EPS Surprise
AMETEK, Inc. price-eps-surprise | AMETEK, Inc. Quote
Factors to Consider
AMETEK’s second-quarter results are expected to reflect strong performances in the Electronic Instruments Group (EIG) and Electromechanical Group (EMG) segments.
AME’s EIG segment is likely to have benefited from continuous organic growth and accretive acquisitions in the to-be-reported quarter.
The Magnetrol International and Crank Software buyouts are anticipated to have driven growth in the EIG segment in the quarter under review. Acquisitions of Motec, Forza, Telular, Gatan, Intellipower and Spectro Scientific are expected to have continued benefiting the segment.
The Zacks Consensus Estimate for second-quarter EIG sales is pegged at $1.13 billion, indicating growth of 10% from the year-ago quarter’s reported figure.
AMETEK’s solid operational execution and consistent organic growth might have fueled the EMG segment’s revenues in the quarter under review.
The latest acquisition of Bison Gear & Engineering is expected to have contributed well. Also, the Pacific Design Technologies buyout is likely to have continued to aid the performance of the EMG segment further in the quarter under review.
The Zacks Consensus Estimate for second-quarter EMG sales is pegged at $520 million, indicating 7% growth from the year-ago quarter’s reported figure.
Continuous investments to develop new products and advanced solutions, as well as support growth initiatives, are likely to have remained a tailwind.
AME’s differentiated motion control capabilities are expected to have continued creating solid demand within its automation businesses in the underlined quarter.
The impacts of strengthening momentum across the AMETEK growth model are likely to get reflected in the to-be-reported results.
However, the impact of uncertainties in the global economy, market dynamics and rising inflationary pressure might get reflected in the upcoming quarterly results.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for AMETEK this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
AMETEK has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
AME carries a Zacks Rank #2 at present.
Stocks to Consider
Here are some stocks that you may consider, as our model shows that these have the right combination of elements to beat on earnings this season.
Itron ITRI has an Earnings ESP of +7.61% and sports a Zacks Rank #1 at present. You can see the complete list of today's Zacks #1 Rank stocks here.
Itron is scheduled to release second-quarter 2023 results on Aug 3. The Zacks Consensus Estimate for ITRI’s earnings is pegged at 31 cents per share, suggesting a jump from the prior-year quarter’s reported figure of 7 cents.
CACI International CACI has an Earnings ESP of +2.36% and a Zacks Rank #2.
CACI is set to report its fourth-quarter fiscal 2023 results on Aug 9. The Zacks Consensus Estimate for CACI’s earnings is pegged at $4.85 per share, suggesting growth of 6.8% from the prior-year quarter’s reported figure.
Docebo DCBO has an Earnings ESP of +6.67% and a Zacks Rank #3 at present.
Docebo is set to report its second-quarter fiscal 2023 results on Aug 10. The Zacks Consensus Estimate for DCBO’s earnings is pegged at 8 cents per share. The company reported a loss of 5 cents per share in the year-ago quarter.
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