Yahoo Finance AMETEK (AME) to Report Q1 Earnings: What's in the Offing?
AMETEK, Inc. AME is scheduled to report first-quarter 2024 results on May 2.
For the first quarter, AMETEK expects sales growth in the low-double digits from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for sales is pegged at $1.78 billion, suggesting an increase of 11.2% from the year-ago quarter’s reported figure.
AMETEK expects adjusted earnings of $1.56-$1.60 per share, indicating growth of 5-7% from the year-ago quarter’s reported number. The Zacks Consensus Estimate for earnings is pinned at $1.59 per share, implying growth of 6.7% from the prior-year quarter’s reported numbers.
AME’s earnings beat estimates in the trailing four quarters, the average being 4.12%.
AMETEK, Inc. Price and EPS Surprise
AMETEK, Inc. price-eps-surprise | AMETEK, Inc. Quote
Key Factors to Note
AMETEK’s first-quarter results are expected to reflect positive contributions from acquisitions.
The Navitar, Alphasense, Magnetrol International and Crank Software buyouts are anticipated to have driven growth in the company’s Electronic Instruments (“EIG”) segment in the first quarter. The Zacks Consensus Estimate for first-quarter EIG sales is pegged at $1.19 billion, indicating growth of 6.2% from the year-ago quarter’s reported figure.
The Electromechanical Group (“EMG”) segment’s sales are likely to have gained from rising demand for precision motion-control solutions in the to-be-reported quarter. Cost-mitigation strategies are anticipated to have aided the segment’s operational performance in the quarter under review. The Zacks Consensus Estimate for first-quarter EMG sales is pinned at $590 million, indicating 22.9% growth from the year-ago quarter’s reported figure.
AME’s proper execution of its core growth strategies, including operational excellence, global market expansion, and investments in product development and acquisitions, is expected to have driven the first-quarter performance.
The impacts of strengthening momentum across the AMETEK Growth Model are expected to get reflected in the to-be-reported quarter’s results.
However, economic uncertainties are likely to have been headwinds. High goodwill associated with aggressive acquisition strategies and the impacts of rising geo-political tensions are expected to get reflected in the upcoming 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. But that is not the case here, as elaborated below.
AMETEK has a Zacks Rank #2 and an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks that you may consider, as our model shows that they have the right combination of elements to beat on earnings this season.
APi Group APG has an Earnings ESP of +2.06% and sports a Zacks Rank #1 at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The company is scheduled to release first-quarter 2024 results on May 2. The Zacks Consensus Estimate for APG’s earnings is pegged at 32 cents per share, indicating growth of 28% from the year-ago quarter’s reported figure.
Arista Networks ANET has an Earnings ESP of +2.49% and flaunts a Zacks Rank #1 at present.
The company is set to report its first-quarter 2024 results on May 7. The Zacks Consensus Estimate for ANET’s earnings is pegged at $1.74 per share, indicating growth of 21.7% from the year-ago quarter’s reported figure.
Cardinal Health CAH has an Earnings ESP of +1.11% and a Zacks Rank #3 at present.
The company is scheduled to release third-quarter fiscal 2024 results on May 2. The Zacks Consensus Estimate for CAH’s earnings is pegged at $1.95 per share, indicating growth of 12.1% from the year-ago quarter’s reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Cardinal Health, Inc. (CAH) : Free Stock Analysis Report
AMETEK, Inc. (AME) : Free Stock Analysis Report
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APi Group Corporation (APG) : Free Stock Analysis Report
