Electronic products manufacturer AMETEK (NYSE: AME) will be reporting results this Tuesday before market hours. Here’s what to look for.
AMETEK beat analysts’ revenue expectations last quarter, reporting revenues of $1.93 billion, up 11.3% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates.
Is AMETEK a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting AMETEK’s revenue to grow 10.1% year on year, improving from the 2.5% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. AMETEK has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at AMETEK’s peers in the electrical equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Bloom Energy delivered year-on-year revenue growth of 166%, beating analysts’ expectations by 27.7%, and Littelfuse reported revenues up 20.4%, topping estimates by 5.4%. Bloom Energy traded down 1.9% following the results while Littelfuse was up 12.7%.
Read our full analysis of Bloom Energy’s results here and Littelfuse’s results here.
In the last twelve months or so, the market has shifted its attention from one area of macro importance to the next (AI disintermediation and AI capex spending to geopolitical conflict, rates, and whether the economy is on solid footing or not). While some of the electrical equipment stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 5% on average over the last month. AMETEK is up 1.9% during the same time and is heading into earnings with an average analyst price target of $263.39 (compared to the current share price of $241.71).
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