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.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
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.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
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
Key Figures
- 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
-
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 financial
non-gaap financial
basis points financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
AMETEK's third quarter 2026 sales were a record
GAAP operating income for the quarter was a record
"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
Electronic Instruments Group (EIG)
EIG sales in the third quarter were a record
"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
"EMG delivered exceptional results in the third quarter. Overall sales were up
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
"For the fourth quarter of 2026, overall sales are expected to be up in the low
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
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
Contact:
Kevin Coleman
Vice President, Investor Relations and Treasurer
kevin.coleman@ametek.com
Phone: 610.889.5247
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AMETEK, Inc. Consolidated Statement of Income (In thousands, except per share amounts) (Unaudited)
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Three Months Ended |
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Nine Months Ended |
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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 |
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Diluted earnings per share |
$ 1.85 |
|
$ 1.60 |
|
$ 5.36 |
|
$ 4.67 |
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Basic earnings per share |
$ 1.86 |
|
$ 1.61 |
|
$ 5.38 |
|
$ 4.69 |
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|
|
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Weighted average common shares outstanding: |
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|
|
|
|
|
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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 |
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AMETEK, Inc. Information by Business Segment (In thousands) (Unaudited)
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2026 |
|
2025 |
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2026 |
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2025 |
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Net sales: |
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|
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|
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Electronic Instruments |
$ 1,442,321 |
|
$ 1,246,332 |
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$ 4,028,010 |
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$ 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 |
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|
|
|
|
|
|
|
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Operating income: |
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Segment operating income: |
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|
|
|
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Electronic Instruments |
$ 406,743 |
|
$ 352,437 |
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$ 1,150,403 |
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$ 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 |
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AMETEK, Inc. Condensed Consolidated Balance Sheet (In thousands)
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|
September 30, |
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December 31, |
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|
2026 |
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2025 |
|
|
(Unaudited) |
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ASSETS |
|
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Current assets: |
|
|
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|
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 |
|
|
|
|
|
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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 |
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Other intangibles, investments and other assets |
7,216,441 |
|
4,748,574 |
|
Total assets |
$ 22,388,535 |
|
$ 16,067,543 |
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LIABILITIES AND STOCKHOLDERS' EQUITY |
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Current liabilities: |
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|
|
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 |
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Total current liabilities |
2,638,226 |
|
2,842,752 |
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|
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|
Long-term debt, net |
6,029,565 |
|
1,074,334 |
|
Deferred income taxes and other long-term liabilities |
2,024,536 |
|
1,521,671 |
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Stockholders' equity |
11,696,208 |
|
10,628,786 |
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Total liabilities and stockholders' equity |
$ 22,388,535 |
|
$ 16,067,543 |
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AMETEK, Inc. Reconciliations of GAAP to Non-GAAP Financial Measures (In thousands, except per share amounts) (Unaudited)
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Three Months Ended September 30, |
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|
2026 |
|
2025 |
|
EIG Segment operating income (GAAP) |
$ 406,743 |
|
$ 352,437 |
|
Acquisition-related costs(1) |
7,822 |
|
7,750 |
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Adjusted EIG Segment operating income (Non-GAAP) |
$ 414,565 |
|
$ 360,187 |
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EMG Segment operating income (GAAP) |
$ 210,009 |
|
$ 163,875 |
|
Acquisition-related costs(1) |
1,945 |
|
— |
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Adjusted EMG Segment operating income (Non-GAAP) |
$ 211,954 |
|
$ 163,875 |
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|
|
|
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Operating income (GAAP) |
$ 584,949 |
|
$ 488,380 |
|
Acquisition-related costs(1) |
9,767 |
|
7,750 |
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Adjusted Operating income (Non-GAAP) |
$ 594,716 |
|
$ 496,130 |
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Other Income (Expense), net |
$ (23,212) |
|
$ (17,901) |
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Acquisition-related costs(1) |
$ 18,069 |
|
$ 11,992 |
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Adjusted Other Income (Expense) (Non-GAAP) |
$ (5,143) |
|
$ (5,909) |
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|
|
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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 |
|
— |
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Adjusted Diluted earnings per share (Non-GAAP) |
$ 2.21 |
|
$ 1.89 |
|
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|
|
|
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Cash provided by operating activities (GAAP) |
$ 560,647 |
|
$ 440,865 |
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Deduct: Capital expenditures |
(33,242) |
|
(20,913) |
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Free cash flow (Non-GAAP) |
$ 527,405 |
|
$ 419,952 |
|
|
|
|
|
|
Free cash flow conversion (Non-GAAP) |
124 % |
|
113 % |
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______________________ |
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(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. |
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AMETEK, Inc. |
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Three Months Ended |
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2026 |
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2025 |
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Change |
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EIG Segment operating margin (GAAP) |
28.2 % |
|
28.3 % |
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|
|
Acquisition-related costs(1) |
0.5 % |
|
0.6 % |
|
|
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Adjusted EIG Segment operating margin (Non-GAAP) |
28.7 % |
|
28.9 % |
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Dilutive impact of acquisitions and foreign exchange(2) |
0.8 % |
|
— % |
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Adjusted EIG Segment core operating margin (Non-GAAP) |
29.5 % |
|
28.9 % |
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0.6 % |
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EMG Segment operating margin (GAAP) |
27.0 % |
|
25.4 % |
|
|
|
Acquisition-related costs(1) |
0.2 % |
|
— % |
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|
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Adjusted EMG Segment operating margin (Non-GAAP) |
27.2 % |
|
25.4 % |
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|
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Dilutive impact of acquisitions and foreign exchange(2) |
0.3 % |
|
— % |
|
|
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Adjusted EMG Segment core operating margin (Non-GAAP) |
27.5 % |
|
25.4 % |
|
2.1 % |
|
|
|
|
|
|
|
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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 % |
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______________________ |
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(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. |
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AMETEK, Inc. |
|||||||
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Forecasted Diluted Earnings Per Share |
||||||
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Three Months Ended |
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Year Ended |
||||
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|
December 31, 2026 |
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December 31,2026 |
||||
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Low |
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High |
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Low |
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High |
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Diluted earnings per share (GAAP) |
$ 1.93 |
|
$ 1.97 |
|
$ 7.29 |
|
$ 7.33 |
|
Pretax amortization of acquisition-related intangible |
0.44 |
|
0.44 |
|
1.39 |
|
1.39 |
|
Income tax benefit on amortization of acquisition-related |
(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 |
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______________________ |
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(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.
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.