- AMETEK Inc (NYSE:AME) reported fourth-quarter sales growth of 25.4% year-over-year to $1.5 billion, beating the consensus of $1.47 billion.
- Adjusted EPS improved to $1.37 from $1.08 in 4Q20, beating the consensus of $1.30.
- Electronic Instruments sales $1.06 billion (+29% Y/Y), segment operating income of $279.53 million (+18.4% Y/Y) and margin of 26.4%, down 236 bps.
- Electromechanical sales $446.66 million (+17.7% Y/Y), segment operating income of $105.34 million (+32% Y/Y), and margin expanded by 260 bps to 23.6%.
- The operating income improved 21.1% Y/Y to $361.15 million, and the margin contracted by 85 bps to 24%.
- AMETEK’s cash provided by operating activities for FY21 totaled $1.16 billion, compared to $1.28 billion a year ago. Free cash flow was $1.05 billion.
- 1Q22 Outlook: AMETEK expects sales to be up ~20% year-over-year, and Adjusted EPS of $1.24 - $1.28 (consensus $1.27), up 16% - 20%.
- FY22 Outlook: AMETEK expects overall sales to be up ~10% compared to 2021 and Adjusted EPS of $5.30 - $5.42 (consensus $5.34), an increase of 9% - 12%.
- Price Action: AME shares traded higher by 0.42% at $140.38 on the last check Thursday.
