AMETEK Reports Record Second Quarter Earnings for Fiscal Year 2023
August 10, 2023
🌥️Earnings Overview
AMETEK ($NYSE:AME) announced on June 30, 2023 that its second quarter Fiscal Year 2023 earnings results had reached USD 1646.1 million in total revenue, an 8.7% increase on the same period in the previous year. Net income saw a 14.8% surge to USD 324.2 million.
Share Price
On Tuesday, AMETEK stock opened at $157.6 and closed at $159.4, indicating a 0.5% increase from their prior closing price of $158.6. These figures demonstrate the strength of AMETEK’s long-term strategy and ability to deliver exceptional performance in challenging environments. These margins were both up from the prior year and demonstrate the company’s commitment to cost control and efficiency.
Overall, the second quarter earnings report from AMETEK is highly encouraging and suggests that the company is on track to achieve significant growth in the next few years. With its strong financials and commitment to excellence, AMETEK is well-positioned to become a leader in its industry going forward. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ametek. AMETEK_Reports_Record_Second_Quarter_Earnings_for_Fiscal_Year_2023″>More…
| Total Revenues | Net Income | Net Margin |
| 6.42k | 1.23k | 19.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ametek. AMETEK_Reports_Record_Second_Quarter_Earnings_for_Fiscal_Year_2023″>More…
| Operations | Investing | Financing |
| 1.43k | -661.71 | -522.4 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ametek. AMETEK_Reports_Record_Second_Quarter_Earnings_for_Fiscal_Year_2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 12.84k | 4.76k | 35.03 |
Key Ratios Snapshot
Some of the financial key ratios for Ametek are shown below. AMETEK_Reports_Record_Second_Quarter_Earnings_for_Fiscal_Year_2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.2% | 15.0% | 25.0% |
| FCF Margin | ROE | ROA |
| 20.2% | 12.7% | 7.8% |
Analysis
At GoodWhale, we analyzed AMETEK‘s financials and found that the company is in good health, according to our proprietary Star Chart. The chart gives AMETEK a score of 9/10, indicating that its cashflows and debt are strong and it is capable of paying off debt and funding future operations. We also classified AMETEK as a ‘gorilla’, a type of company that has achieved stable and high revenue or earnings growth due to its strong competitive advantage. It has a high score for dividends, growth, and profitability. Its asset score is moderate. Given its financial strength and competitive edge, we believe AMETEK may be attractive to value investors looking for a steady income stream and growth-oriented investors seeking companies with strong fundamentals. More…
Peers
The company’s products are used in a variety of industries, including aerospace, automotive, communications, computing, defense, and medical. AMETEK has a diversified product portfolio that includes sensor signal conditioning, data acquisition and display, power conversion and management, and motion control. The company’s competitors include Curtiss-Wright Corp, Circor International Inc, Emerson Electric Co.
– Curtiss-Wright Corp ($NYSE:CW)
Curtiss-Wright Corp is a diversified industrial manufacturer with a market cap of 6.21B as of 2022. The company has a return on equity of 12.64%. Curtiss-Wright Corp is engaged in the design, manufacture, and service of highly engineered, technologically advanced products and services. The company operates in three segments: Commercial/Industrial, Defense, and Power.
– Circor International Inc ($NYSE:CIR)
Circor International is a leading provider of highly engineered valves, controls and systems for the oil, gas and power generation industries. The company’s products are used in a wide range of applications, from the transport of natural gas and crude oil to the generation of electricity. Circor International has a market cap of 356.56M as of 2022 and a Return on Equity of -4.49%. The company’s products are used in a wide range of applications, from the transport of natural gas and crude oil to the generation of electricity.
– Emerson Electric Co ($NYSE:EMR)
Emerson Electric Co is a large publicly traded company with a market capitalization of 48.01B as of 2022. The company has a strong return on equity of 25.13%. Emerson Electric is a diversified technology and engineering company that provides innovative solutions to customers in industrial, commercial, and consumer markets worldwide. The company operates in four business segments: Process Management, Industrial Automation, Climate Technologies, and Commercial & Residential Solutions. Emerson’s products and services include process control systems, valves, actuators, pumps, motors, compressors, drives, sensors, instrumentation, power generation equipment, and analytical tools. The company has a long history of providing quality products and services to its customers.
Summary
Investors may find opportunity in AMETEK, as the company recently reported strong earnings for the second quarter of 2023. Revenue jumped 8.7% year-over-year to USD 1646.1 million, and net income rose even more drastically at 14.8% to USD 324.2 million. This strong performance suggests that AMETEK’s core business segments have returned to pre-pandemic levels, and could be a good long-term investment.
Additionally, with AMETEK’s healthy balance sheet, investors may benefit from a secure, stable dividend yield. Overall, AMETEK appears to be a promising investment option.
