Electronic products manufacturer AMETEK (NYSE:AME) will be announcing earnings results this Thursday morning. Here’s what investors should know.
AMETEK missed analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $1.73 billion, flat year on year. It was a mixed quarter for the company, with a decent beat of analysts’ EBITDA estimates but a slight miss of analysts’ organic revenue estimates.
Is AMETEK a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting AMETEK’s revenue to be flat year on year at $1.73 billion, slowing from the 5.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.69 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. AMETEK has missed Wall Street’s revenue estimates six times over the last two years.
Looking at AMETEK’s peers in the electrical equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Bel Fuse delivered year-on-year revenue growth of 26.3%, beating analysts’ expectations by 10.1%, and Acuity Brands reported revenues up 21.7%, topping estimates by 3.1%. Bel Fuse traded up 18.8% following the results while Acuity Brands was also up 5.8%.
Read our full analysis of Bel Fuse’s results here and Acuity Brands’s results here.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 5.5% on average over the last month. AMETEK’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $195.44 (compared to the current share price of $179.64).
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