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AMETEK (AME) to Report Q1 Earnings: What's in the Offing?
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AMETEK, Inc. (AME - Free Report) is scheduled to report first-quarter 2023 results on May 2.
For the first quarter, AMETEK expects sales growth in mid-single digits from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for sales is pegged at $1.53 billion, suggesting growth of 4.8% from the year-ago quarter’s reported figure.
AMETEK expects adjusted earnings of $1.38-$1.42 per share, suggesting growth of 4-7% from the year-ago quarter’s reported number. The Zacks Consensus Estimate for earnings is pegged at $1.41 per share, implying growth of 6% from the prior-year quarter’s reported numbers.
AME's earnings beat estimates in each of the trailing four quarters, the average being 5.24%.
AMETEK’s first-quarter results are expected to reflect positive contributions from acquisitions.
The Magnetrol International and Crank Software buyouts are anticipated to have driven growth in AMETEK’s Electronic Instruments (EIG) segment in the first quarter. The acquisitions of Motec, Forza, Telular, Gatan, Intellipower and Spectro Scientific are expected to have benefited the segment.
The Zacks Consensus Estimate for first-quarter EIG sales is pegged at $1.05 billion, indicating growth of 6.1% from the year-ago quarter’s reported figure.
The Electromechanical Group (EMG) segment’s sales are likely to have gained from the Pacific Design Technologies buyout 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 pegged at $482 million, indicating 2.3% growth from the year-ago quarter’s reported figure.
This apart, 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 first-quarter’s performance.
AMETEK’s focus on cash flow generation is anticipated to have aided capital deployment activities in the to-be-reported quarter.
Additionally, the impacts of strengthening momentum across the AMETEK Growth Model are expected to get reflected in the to-be-reported quarterly results.
However, the coronavirus pandemic-led supply-chain disruptions are anticipated to have been headwinds to AMETEK’s segments.
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’s not the case here, as elaborated below.
AMETEK has a Zacks Rank #3 and 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.
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.
DigitalOcean (DOCN - Free Report) has an Earnings ESP of +2.30% and a Zacks Rank #2 at present.
DOCN is scheduled to release first-quarter 2023 results on May 9. The Zacks Consensus Estimate for DOCN’s earnings is pegged at 29 cents per share, suggesting a jump from 7 cents per share reported in the prior-year quarter.
BILL Holdings is set to report third-quarter fiscal 2023 results on May 4. The Zacks Consensus Estimate for BILL’s earnings is pegged at 24 cents per share. The company incurred a loss of 8 cents per share in the year-ago quarter.
Ceridian HCM has an Earnings ESP of +9.09% and a Zacks Rank #3 at present.
CDAY is scheduled to report first-quarter 2023 results on May 3. The Zacks Consensus Estimate for CDAY’s earnings is pegged at 33 cents per share, suggesting an increase of 153.8% from the prior-year quarter’s reported figure.
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AMETEK (AME) to Report Q1 Earnings: What's in the Offing?
AMETEK, Inc. (AME - Free Report) is scheduled to report first-quarter 2023 results on May 2.
For the first quarter, AMETEK expects sales growth in mid-single digits from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for sales is pegged at $1.53 billion, suggesting growth of 4.8% from the year-ago quarter’s reported figure.
AMETEK expects adjusted earnings of $1.38-$1.42 per share, suggesting growth of 4-7% from the year-ago quarter’s reported number. The Zacks Consensus Estimate for earnings is pegged at $1.41 per share, implying growth of 6% from the prior-year quarter’s reported numbers.
AME's earnings beat estimates in each of the trailing four quarters, the average being 5.24%.
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 Magnetrol International and Crank Software buyouts are anticipated to have driven growth in AMETEK’s Electronic Instruments (EIG) segment in the first quarter. The acquisitions of Motec, Forza, Telular, Gatan, Intellipower and Spectro Scientific are expected to have benefited the segment.
The Zacks Consensus Estimate for first-quarter EIG sales is pegged at $1.05 billion, indicating growth of 6.1% from the year-ago quarter’s reported figure.
The Electromechanical Group (EMG) segment’s sales are likely to have gained from the Pacific Design Technologies buyout 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 pegged at $482 million, indicating 2.3% growth from the year-ago quarter’s reported figure.
This apart, 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 first-quarter’s performance.
AMETEK’s focus on cash flow generation is anticipated to have aided capital deployment activities in the to-be-reported quarter.
Additionally, the impacts of strengthening momentum across the AMETEK Growth Model are expected to get reflected in the to-be-reported quarterly results.
However, the coronavirus pandemic-led supply-chain disruptions are anticipated to have been headwinds to AMETEK’s segments.
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’s not the case here, as elaborated below.
AMETEK has a Zacks Rank #3 and 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.
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.
DigitalOcean (DOCN - Free Report) has an Earnings ESP of +2.30% and a Zacks Rank #2 at present.
DOCN is scheduled to release first-quarter 2023 results on May 9. The Zacks Consensus Estimate for DOCN’s earnings is pegged at 29 cents per share, suggesting a jump from 7 cents per share reported in the prior-year quarter.
BILL Holdings, Inc. (BILL - Free Report) has an Earnings ESP of +1.89% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
BILL Holdings is set to report third-quarter fiscal 2023 results on May 4. The Zacks Consensus Estimate for BILL’s earnings is pegged at 24 cents per share. The company incurred a loss of 8 cents per share in the year-ago quarter.
Ceridian HCM has an Earnings ESP of +9.09% and a Zacks Rank #3 at present.
CDAY is scheduled to report first-quarter 2023 results on May 3. The Zacks Consensus Estimate for CDAY’s earnings is pegged at 33 cents per share, suggesting an increase of 153.8% from the prior-year quarter’s reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.