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AMETEK Announces Record Third Quarter 2026 Results and Raises Full Year Guidance

Both operating groups reported higher sales, while quarterly interest expense increased from $22.514 million to $39.822 million.

(Moderate)

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AMETEK (NYSE: AME) reported record third-quarter sales of $2.22 billion and raised its full-year earnings outlook following the Indicor Instrumentation acquisition. Sales increased 17% from the third quarter of 2025. GAAP diluted earnings per share rose to $1.85 from $1.60, while adjusted earnings reached $2.21, up 17%. GAAP operating income was $584.9 million; adjusted operating margin reached 26.8%, up 60 basis points.

Operating cash flow increased 27% to $560.6 million. Electronic Instruments sales rose 16%, and Electromechanical sales increased 20%. AMETEK now expects 2026 adjusted earnings of $8.53–$8.57 per diluted share, versus prior guidance of $8.20–$8.30, and mid-teens percentage sales growth. Fourth-quarter adjusted earnings are expected at $2.26–$2.30 per share. Long-term debt, net, reached $6,029.565 million at September 30, versus $1,074.334 million at December 31, 2025.

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0 major · 7 points

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Positive

  • Major point. Forward-looking: it has not happened yet and may not happen.Full-year adjusted EPS guidance raised to $8.53–$8.57 from $8.20–$8.30, approximately 15% above 2025.
  • Moderate point. Forward-looking: it has not happened yet and may not happen.Full-year sales now expected to increase by a mid-teens percentage versus 2025.
  • Moderate pointThird-quarter sales increased 17% to $2.22 billion versus the third quarter of 2025.
  • Moderate pointThird-quarter adjusted diluted EPS increased 17% to $2.21 from $1.89 a year earlier.
  • Moderate pointThird-quarter operating cash flow increased 27% to $560.6 million versus a year earlier.
  • Moderate pointIndicor Instrumentation acquisition completed during the third quarter.
22 minor points
  • Minor pointThird-quarter GAAP diluted EPS increased to $1.85 from $1.60 a year earlier.
  • Minor pointThird-quarter GAAP net income rose to $426.300 million from $371.416 million a year earlier.
  • Minor pointThird-quarter GAAP operating income increased to $584.949 million from $488.380 million a year earlier.
  • Minor pointThird-quarter adjusted operating income increased 20% to $594.7 million versus a year earlier.
  • Minor pointThird-quarter adjusted operating margin rose 60 basis points to 26.8%; adjusted core margin rose 110 basis points.
  • Minor pointThird-quarter free cash flow rose to $527.405 million from $419.952 million; net-income conversion reached 124% versus 113%.
  • Minor pointElectronic Instruments third-quarter sales increased 16% to $1.44 billion versus a year earlier.
  • Minor pointElectronic Instruments third-quarter adjusted operating income increased 15% to $414.6 million versus a year earlier.
  • Minor pointElectronic Instruments third-quarter adjusted core operating margin increased 60 basis points to 29.5% year over year.
  • Minor pointElectromechanical third-quarter sales increased 20% to $778.0 million versus a year earlier.
  • Minor pointElectromechanical third-quarter adjusted operating income increased 29% to $212.0 million versus a year earlier.
  • Minor pointElectromechanical third-quarter adjusted operating margin reached 27.2%, versus 25.4%; adjusted core margin rose 210 basis points.
  • Minor point. Forward-looking: it has not happened yet and may not happen.Fourth-quarter sales expected to grow in the low 20% range versus the fourth quarter of 2025.
  • Minor point. Forward-looking: it has not happened yet and may not happen.Fourth-quarter adjusted EPS expected at $2.26–$2.30, up 12%–14% versus the fourth quarter of 2025.
  • Minor point. Forward-looking: it has not happened yet and may not happen.Full-year GAAP diluted EPS forecast at $7.29–$7.33; fourth-quarter forecast is $1.93–$1.97.
  • Minor pointNine-month sales rose to $6,193.140 million from $5,402.668 million in the comparable 2025 period.
  • Minor pointNine-month GAAP operating income rose to $1,628.078 million from $1,404.835 million in the comparable 2025 period.
  • Minor pointNine-month GAAP net income rose to $1,232.553 million from $1,081.541 million in the comparable 2025 period.
  • Minor pointNine-month GAAP diluted EPS increased to $5.36 from $4.67 in the comparable 2025 period.
  • Minor pointQuarterly dividends per share increased to $0.34 from $0.31 in the third quarter of 2025.
  • Minor pointCash and equivalents increased to $666.152 million at September 30, 2026, from $457.951 million at year-end 2025.
  • Minor pointShort-term borrowings and current long-term debt declined to $639.822 million from $1,208.975 million at year-end 2025.

Negative

  • Moderate pointLong-term debt, net, increased to $6,029.565 million at September 30, 2026, from $1,074.334 million at year-end 2025.
  • Minor pointThird-quarter interest expense increased to $39.822 million from $22.514 million a year earlier.
  • Minor pointThird-quarter acquisition-related integration costs were $9.767 million, versus $7.750 million a year earlier.
  • Minor pointThird-quarter acquisition-related transaction costs were $18.069 million, versus $11.992 million a year earlier.
  • Minor pointElectronic Instruments third-quarter adjusted operating margin declined to 28.7% from 28.9% a year earlier.
2 minor points
  • Minor pointThird-quarter capital expenditures increased to $33.242 million from $20.913 million a year earlier.
  • Minor pointForecasts exclude future acquisition-related adjustments whose timing or magnitude depends on future events.

News Explained

AMETEK reported third-quarter GAAP diluted earnings of $1.85 per share and adjusted earnings of $2.21; the adjusted figure adds back $0.36 per share for non-cash, after-tax acquisition-related intangible amortization and transaction and integration costs, so it is not the GAAP result.

Key Figures

Third-quarter sales: $2.22 billion, up 17% Adjusted diluted EPS: $2.21, up 17% Adjusted operating income: $594.7 million, up 20% +5 more
Third-quarter sales
$2.22 billion, up 17%
Q3 2026 vs. Q3 2025
Adjusted diluted EPS
$2.21, up 17%
Q3 2026 vs. prior-year period
Adjusted operating income
$594.7 million, up 20%
Q3 2026
Adjusted operating margin
26.8%, up 60 basis points
Q3 2026 vs. Q3 2025
Operating cash flow
$560.6 million, up 27%
Q3 2026
Free cash flow conversion
124%
Q3 2026
Full-year adjusted diluted EPS guidance
$8.53–$8.57, up from $8.20–$8.30
2026 guidance
Full-year sales outlook
Up mid-teens on a percentage basis
2026 vs. 2025

Previous Earnings Reports

1 past event · Latest: Aug 04
Same Type 1 event
  1. Aug 04

    Quarterly earnings

    24h Move
    +4.2%

    Record Q2 sales and adjusted EPS accompanied a raised full-year adjusted EPS range.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

gaap, non-gaap, basis points
3 terms
gaap financial
"On a GAAP basis, third quarter earnings were a record"
GAAP, or Generally Accepted Accounting Principles, are a set of standardized rules and guidelines that companies follow when preparing their financial statements. They ensure consistency, transparency, and comparability across different companies, making it easier for investors to understand and compare financial information accurately. This helps investors make informed decisions based on trustworthy and uniform financial reports.
View in glossary
non-gaap financial
"Adjusted operating income (Non-GAAP)"
Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.
View in glossary
basis points financial
"up 60 basis points from the third quarter of 2025"
Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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BERWYN, Pa., Nov. 3, 2026 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) today announced its financial results for the third quarter ended September 30, 2026.

AMETEK's third quarter 2026 sales were a record $2.22 billion, a 17% increase over the third quarter of 2025. On a GAAP basis, third quarter earnings were a record $1.85 per diluted share. Adjusted earnings for the third quarter were a record $2.21 per diluted share, up 17% from the prior year period. Adjusted earnings adds back non-cash, after-tax, acquisition-related intangible amortization, and transaction and integration costs of $0.36 per diluted share.

GAAP operating income for the quarter was a record $584.9 million. Adjusted operating income increased 20% to a record $594.7 million and operating margins were 26.8%, up 60 basis points from the third quarter of 2025. Operating cash flow in the quarter was up 27% to $560.6 million and free cash flow to net income conversion was 124%. A reconciliation of reported GAAP results to adjusted results is included in the financial tables accompanying this release and on the AMETEK website.

"AMETEK delivered outstanding results in the third quarter," stated David A. Zapico, AMETEK Chairman and Chief Executive Officer. "Continued strong organic sales and orders growth, contributions from recent acquisitions, and tremendous operating performance led to 20% operating profit growth, an excellent 110 basis points of core margin expansion, and record free cash flow. In addition, during the third quarter we completed the acquisition of Indicor Instrumentation, an outstanding group of highly differentiated industrial technology businesses."

Electronic Instruments Group (EIG)
EIG sales in the third quarter were a record $1.44 billion, an increase of 16% over the third quarter of 2025. On a GAAP basis, EIG's third quarter operating income was a record $406.7 million. On an adjusted basis, EIG's operating income was up 15% to a record $414.6 million.

"EIG delivered excellent results in the third quarter with robust sales growth, exceptional orders growth, and outstanding operating performance," noted Mr. Zapico. "Sales growth in the quarter was broad based across our businesses driven by strong organic sales growth and contributions from recent acquisitions. Additionally, EIG's tremendous operating performance drove core margin expansion of 60 basis points in the quarter."

Electromechanical Group (EMG)
EMG sales in the third quarter were a record $778.0 million, up 20% from the prior year period. In the quarter, EMG's GAAP operating income was a record $210.0 million. On an adjusted basis, EMG's operating income increased 29% to a record $212.0 million and operating income margins were 27.2%.

"EMG delivered exceptional results in the third quarter. Overall sales were up 20%, driven by outstanding, broad-based organic sales growth and contributions from recent acquisitions. EMG also delivered tremendous operating results with a sizeable 29% growth in adjusted operating profit and 210 basis points of core margin expansion," noted Mr. Zapico.

Fourth Quarter and Full Year 2026 Outlook
"Our performance in the third quarter showcased the quality of our businesses, attractiveness of our end market exposures and the proven effectiveness of the AMETEK Growth Model. Our businesses are well positioned as mission-critical providers of highly engineered solutions and their alignment with key secular growth trends supports our broad-based growth in sales and orders. Additionally, our operating results reflect the value of our disciplined capital deployment and acquisition strategy," added Mr. Zapico. 

"For 2026, we now expect overall sales to be up mid-teens on a percentage basis versus 2025. Adjusted earnings per diluted share are now expected to be in the range of $8.53 to $8.57, up approximately 15% from our full year 2025 results. This is an increase from our prior guidance range of $8.20 to $8.30 per diluted share reflecting our excellent third quarter results and outlook for the fourth quarter, as well as the expected contribution from the acquisition of Indicor Instrumentation," he added.  

"For the fourth quarter of 2026, overall sales are expected to be up in the low 20% range versus the fourth quarter of 2025. Adjusted earnings in the quarter are expected to be in the range of $2.26 to $2.30 per share, up 12% to 14% compared to the fourth quarter of 2025," concluded Mr. Zapico.

Conference Call
AMETEK will webcast its third quarter 2026 investor conference call on Tuesday, November 3, 2026, beginning at 8:30 AM ET. The live audio webcast will be available and later archived in the Investors section of www.ametek.com.

Corporate Profile
AMETEK (NYSE: AME) is a leading global provider of industrial technology solutions serving a diverse set of attractive niche markets with annualized sales of approximately $9.0 billion. The AMETEK Growth Model integrates the Four Growth Strategies - Operational Excellence, Technology Innovation, Global and Market Expansion, and Strategic Acquisitions - with a disciplined focus on cash generation and capital deployment. AMETEK's objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. Founded in 1930, AMETEK has been listed on the NYSE for over 95 years and is a component of the S&P 500. For more information, visit www.ametek.com.

Forward-looking Information
Statements in this news release relating to future events, such as AMETEK's expected business and financial performance, are "forward-looking statements." These statements reflect management's current expectations, estimates and projections regarding future events and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results and outcomes to differ materially from expectations. These factors and uncertainties include, among others, risks related to the Company's ability to consummate and successfully integrate future acquisitions; risks associated with international sales and operations, including supply chain disruptions; tariffs, trade disputes, foreign currency fluctuations and geopolitical developments; the Company's ability to successfully develop new products, open new facilities or transfer product lines; the price and availability of raw materials; cybersecurity and information technology risks; compliance with government regulations, including environmental regulations; changes in the competitive environment; the effects of competition in the Company's markets; the ability to maintain adequate liquidity and financing sources; and general economic conditions affecting the industries the Company serves. A detailed discussion of these and other factors that may affect the Company's future results is contained in AMETEK's filings with the U.S. Securities and Exchange Commission, including its most recent reports on Forms 10-K, 10-Q, and 8-K. AMETEK disclaims any intention or obligation to update or revise any forward-looking statements, unless required by the securities laws to do so.

Contact:
Kevin Coleman
Vice President, Investor Relations and Treasurer
kevin.coleman@ametek.com
Phone: 610.889.5247

AMETEK, Inc.

Consolidated Statement of Income

(In thousands, except per share amounts)

(Unaudited)

 


Three Months Ended
September 30,


Nine Months Ended
September 30,


2026


2025


2026


2025

Net sales

$      2,220,306


$       1,892,641


$      6,193,140


$       5,402,668









Cost of sales

1,409,872


1,206,505


3,930,106


3,455,643

Selling, general and administrative

225,485


197,756


634,956


542,190

     Total operating expenses

1,635,357


1,404,261


4,565,062


3,997,833

Operating income

584,949


488,380


1,628,078


1,404,835

Interest expense

(39,822)


(22,514)


(90,832)


(58,364)

Other (expense) income, net

(23,212)


(17,901)


(29,979)


(22,115)

Income before income taxes

521,915


447,965


1,507,267


1,324,356

Provision for income taxes

95,615


76,549


274,714


242,815

Net income

$         426,300


$         371,416


$      1,232,553


$       1,081,541









Diluted earnings per share

$             1.85


$              1.60


$             5.36


$              4.67

Basic earnings per share

$             1.86


$              1.61


$             5.38


$              4.69









Weighted average common shares outstanding:








     Diluted shares

230,040


231,670


229,910


231,561

     Basic shares

229,159


230,733


229,049


230,740









Dividends per share

$             0.34


$              0.31


$             1.02


$              0.93

 

AMETEK, Inc.

Information by Business Segment

(In thousands)

(Unaudited)

 


Three Months Ended

September 30,


Nine Months Ended

September 30,


2026


2025


2026


2025

Net sales:








Electronic Instruments

$      1,442,321


$       1,246,332


$      4,028,010


$      3,549,576

Electromechanical

777,985


646,309


2,165,130


1,853,092

Consolidated net sales

$      2,220,306


$       1,892,641


$      6,193,140


$      5,402,668









Operating income:








Segment operating income:








Electronic Instruments

$         406,743


$         352,437


$      1,150,403


$      1,050,915

Electromechanical

210,009


163,875


570,092


436,481

Total segment operating income

616,752


516,312


1,720,495


1,487,396

Corporate administrative expenses

(31,803)


(27,932)


(92,417)


(82,561)

Consolidated operating income

$         584,949


$         488,380


$      1,628,078


$      1,404,835

 

AMETEK, Inc.

Condensed Consolidated Balance Sheet

(In thousands)

 


September 30,


December 31,


2026


2025


(Unaudited)



ASSETS




Current assets:




     Cash and cash equivalents

$            666,152


$            457,951

     Receivables, net

1,348,449


1,119,257

     Inventories, net

1,366,845


1,106,405

     Other current assets

393,853


336,229

          Total current assets

3,775,299


3,019,842





Property, plant and equipment, net

901,486


855,215

Right of use assets, net

284,603


273,142

Goodwill

10,210,706


7,170,770

Other intangibles, investments and other assets

7,216,441


4,748,574

          Total assets

$        22,388,535


$        16,067,543





LIABILITIES AND STOCKHOLDERS' EQUITY




Current liabilities:




     Short-term borrowings and current portion of long-term debt, net

$            639,822


$         1,208,975

     Accounts payable and accruals

1,998,404


1,633,777

          Total current liabilities

2,638,226


2,842,752





Long-term debt, net

6,029,565


1,074,334

Deferred income taxes and other long-term liabilities

2,024,536


1,521,671

Stockholders' equity

11,696,208


10,628,786

          Total liabilities and stockholders' equity

$        22,388,535


$        16,067,543

 

AMETEK, Inc.

Reconciliations of GAAP to Non-GAAP Financial Measures

(In thousands, except per share amounts)

(Unaudited)

 


Three Months Ended September 30,


2026


2025

EIG Segment operating income (GAAP)

$          406,743


$          352,437

Acquisition-related costs(1)

7,822


7,750

Adjusted EIG Segment operating income (Non-GAAP)

$          414,565


$          360,187





EMG Segment operating income (GAAP)

$          210,009


$          163,875

Acquisition-related costs(1)

1,945


—

Adjusted EMG Segment operating income (Non-GAAP)

$          211,954


$          163,875





Operating income (GAAP)

$          584,949


$          488,380

Acquisition-related costs(1)

9,767


7,750

Adjusted Operating income (Non-GAAP)

$          594,716


$          496,130





Other Income (Expense), net

$          (23,212)


$          (17,901)

Acquisition-related costs(1)

$           18,069


$           11,992

Adjusted Other Income (Expense) (Non-GAAP)

$            (5,143)


$            (5,909)





Diluted earnings per share (GAAP)

$              1.85


$               1.60

Acquisition-related costs(1)

0.12


0.09

Income tax benefit on acquisition-related costs(1)

(0.03)


(0.02)

Pretax amortization of acquisition-related intangible assets

0.35


0.29

Income tax benefit on amortization of acquisition-related intangible assets

(0.09)


(0.07)

Rounding

0.01


—

Adjusted Diluted earnings per share (Non-GAAP)

$              2.21


$               1.89





Cash provided by operating activities (GAAP)

$          560,647


$          440,865

Deduct: Capital expenditures

(33,242)


(20,913)

Free cash flow (Non-GAAP)

$          527,405


$          419,952





Free cash flow conversion (Non-GAAP)

124 %


113 %

______________________

(1)

- Acquisition-related costs comprised of integration costs recorded in Cost of Sales and transaction costs unique to completed business combinations recorded in Other Income (Expense), net.

 

AMETEK, Inc.
Reconciliations of GAAP to Non-GAAP Financial Measures
(In thousands, except per share amounts)
(Unaudited)



Three Months Ended
September 30,




2026


2025








Change

EIG Segment operating margin (GAAP)

28.2 %


28.3 %



Acquisition-related costs(1)

0.5 %


0.6 %



Adjusted EIG Segment operating margin (Non-GAAP)

28.7 %


28.9 %



Dilutive impact of acquisitions and foreign exchange(2)

0.8 %


— %



Adjusted EIG Segment core operating margin (Non-GAAP)

29.5 %


28.9 %


0.6 %







EMG Segment operating margin (GAAP)

27.0 %


25.4 %



Acquisition-related costs(1)

0.2 %


— %



Adjusted EMG Segment operating margin (Non-GAAP)

27.2 %


25.4 %



Dilutive impact of acquisitions and foreign exchange(2)

0.3 %


— %



Adjusted EMG Segment core operating margin (Non-GAAP)

27.5 %


25.4 %


2.1 %







Operating income margin (GAAP)

26.3 %


25.8 %



Acquisition-related costs(1)

0.5 %


0.4 %



Adjusted operating income margin (Non-GAAP)

26.8 %


26.2 %


0.6 %

Dilutive impact of acquisitions and foreign exchange(2)

0.5 %


— %



Adjusted core operating income margin (Non-GAAP)

27.3 %


26.2 %


1.1 %

______________________

(1)

- Acquisition-related costs comprised of integration costs recorded in Cost of Sales and transaction costs unique to completed business combinations recorded in Other Income (Expense), net.

(2)

- Operating income margins adjusted for dilutive impact from acquisitions completed in the last twelve months and the foreign exchange gain or loss.

 

AMETEK, Inc.
Reconciliations of GAAP to Non-GAAP Financial Measures
(Unaudited)



Forecasted Diluted Earnings Per Share


Three Months Ended


Year Ended


December 31, 2026


December 31,2026


Low


High


Low


High









Diluted earnings per share (GAAP)

$             1.93


$           1.97


$          7.29


$          7.33

Pretax amortization of acquisition-related intangible
assets

0.44


0.44


1.39


1.39

Income tax benefit on amortization of acquisition-related
intangible assets

(0.11)


(0.11)


(0.34)


(0.34)

Acquisition-related costs(3)

—


—


0.24


0.24

Income tax benefit on acquisition-related costs(3)

—


—


(0.05)


(0.05)

Adjusted Diluted earnings per share (Non-GAAP)

$             2.26


$           2.30


$          8.53


$          8.57

______________________

(3)

- In providing forward-looking guidance for quarterly and full-year GAAP and non-GAAP measures, the Company has not included adjustments, such as acquisition-related costs, whose timing and/or magnitude are contingent on future events. Acquisition-related costs represent actual September 30, 2026 year-to-date adjustments.

Use of Non-GAAP Financial Information

The Company supplements its consolidated financial statements presented on a U.S. generally accepted accounting principles ("GAAP") basis with certain non‑GAAP financial information to provide investors with greater insight, increased transparency and allow for a more comprehensive understanding of the information used by management in its financial and operational decision-making.  Reconciliation of non‑GAAP measures to their most directly comparable GAAP measures are included in the accompanying financial tables. These non‑GAAP financial measures should be considered in addition to, and not as a replacement for, or superior to, the comparable GAAP measure, and may not be comparable to similarly titled measures reported by other companies.

The non-GAAP financial measures referenced in this press release include adjusted operating income, adjusted operating margin, and adjusted earnings per share. These measures are adjusted to exclude items that management does not consider indicative of AMETEK's ongoing operational performance, such as after-tax acquisition-related intangible amortization, one-time acquisition-related costs (including transaction related costs, purchase accounting adjustments, and integration related costs). 

In providing forward-looking guidance for quarterly and full-year GAAP and non-GAAP measures, the Company has not included adjustments, such as acquisition-related costs, whose timing and/or magnitude are contingent on future events.

The Company believes that these measures provide useful information to investors by reflecting additional ways of viewing AMETEK's operations that, when reconciled to the comparable GAAP measure, helps our investors to better understand the long-term profitability trends of our business, and facilitates easier comparisons of our profitability to prior and future periods and to our peers.

Cision View original content:https://www.prnewswire.com/news-releases/ametek-announces-record-third-quarter-2026-results-and-raises-full-year-guidance-302926998.html

SOURCE AMETEK, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were AMETEK's third-quarter 2026 earnings and sales?

AMETEK reported sales of $2.22 billion, GAAP diluted earnings of $1.85 per share and adjusted diluted earnings of $2.21 per share. Sales and adjusted earnings per share each increased 17% from the third quarter of 2025. GAAP diluted earnings were $1.60 per share in that prior-year quarter.

What is AMETEK's raised full-year 2026 earnings guidance?

AMETEK expects full-year adjusted diluted earnings of $8.53–$8.57 per share, up from its previous $8.20–$8.30 range. The new range represents approximately 15% growth over 2025. The company attributed the increase to third-quarter results, its fourth-quarter outlook and the expected contribution from Indicor Instrumentation.

What does AMETEK exclude from its adjusted third-quarter 2026 earnings?

AMETEK's adjusted third-quarter earnings add back $0.36 per diluted share for non-cash, after-tax acquisition-related intangible amortization and transaction and integration costs. These adjustments reconcile GAAP diluted earnings of $1.85 per share to adjusted diluted earnings of $2.21 per share.

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