AME

A month has gone by since the last earnings report for Ametek (AME). Shares have lost about 8.5% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Ametek due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for AMETEK, Inc. before we dive into how investors and analysts have reacted as of late. AMETEK, Inc. reported second-quarter 2026 results, wherein both top and bottom lines surpassed the Zacks Consensus Estimate. AMETEK reported its second-quarter non-GAAP earnings of $2.09 per share, which beat the Zacks Consensus Estimate by 5%. The figure increased 17% year over year. AMETEK’s top line of $2.04 billion surpassed the Zacks Consensus Estimate by 4.5%. The figure increased 15% year over year. The company experienced an increase in sales in its largest EIG segment, along with a year-over-year improvement in the EMG segment. EIG sales (64.6% of total revenues) in the second quarter were $1.32 billion, up 14% from the year-ago quarter’s reported figure. Our model estimate for EIG sales was pegged at $1.26 billion. In the second quarter, revenues from EMG (35.4% of total revenues) were $723.2 million, up 17% from the year-ago quarter. Our model estimate for EMG sales was pegged at $688.6 million. For the second quarter, adjusted operating income increased 18% year over year to $544.4 million. The operating margin expanded 60 basis points (bps) from the year-ago quarter. EIG's second-quarter adjusted operating income was $384.7 million, up 12% year over year. EMG’s adjusted operating income in the quarter increased 32% to $190.5 million. As of June 30, 2026, AME had cash and cash equivalents of $495.4 million compared with the previous quarter’s $481.25 million. As of June 30, 2026, AME’s long-term debt was $1.056 billion, down marginally from the previous quarter’s $1.062 billion. For 2026, AME expects overall sales to increase 10% year over year, up from the prior guidance of overall sales to be up in the high single digits. The company expects its adjusted earnings per share to be in the range of $8.20-$8.30, indicating an increase of 10% to 12% year over year, up from its prior guidance of $7.94-$8.14. For the third quarter of 2026, the company expects overall sales to be up in the high single digits compared with the same period last year. Adjusted earnings for the third quarter are expected to be in the range of $2.08-$2.10, indicating a year-over-year increase of 10-11%. In the past month, investors have witnessed a upward trend in fresh estimates. Currently, Ametek has a average Growth Score of C, however its Momentum Score is doing a lot better with an A. However, the stock has a score of D on the value side, putting it in the bottom 40% for value investors. Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Ametek has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AMETEK, Inc. (AME) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Let’s dig into the relative performance of AMETEK (NYSE:AME) and its peers as we unravel the now-completed Q2 internet of things earnings season. Industrial Internet of Things (IoT) companies are buoyed by the secular trend of a more connected world. They often specialize in nascent areas such as hardware and services for factory automation, fleet tracking, or smart home technologies. Those who play their cards right can generate recurring subscription revenues by providing cloud-based software services, boosting their margins. On the other hand, if the technologies these companies have invested in don’t pan out, they may have to make costly pivots. The 6 internet of things stocks we track reported a strong Q2. As a group, revenues beat analysts’ consensus estimates by 2.1% while next quarter’s revenue guidance was in line. In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results. Started from its humble beginnings in motor repair, AMETEK (NYSE:AME) manufactures electronic devices used in industries like aerospace, power, and healthcare. AMETEK reported revenues of $2.04 billion, up 15% year on year. This print exceeded analysts’ expectations by 4.4%. Overall, it was a very strong quarter for the company with full-year EPS guidance slightly topping analysts’ expectations and EPS guidance for next quarter topping analysts’ expectations. "AMETEK delivered superb results in the second quarter. Strong organic sales growth, contributions from recent acquisitions, and outstanding operating performance led to high-teens earnings growth, excellent 110 basis points of core margin expansion and record operating performance," stated David A. Zapico, AMETEK Chairman and Chief Executive Officer. AMETEK pulled off the biggest analyst estimate beat and fastest revenue growth of the whole group. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 5.1% since reporting and currently trades at $231.44. We think AMETEK is a good business, but is it a buy today? Read our full report here, it’s free. Founded by an employee at a real estate rental company, SmartRent (NYSE:SMRT) provides smart home devices and software for multifamily residential properties, single-family rental homes, and student housing communities. SmartRent reported revenues of $39.84 million, up 4% year on year, outperforming analysts’ expectations by 0.6%. The business had a very strong quarter with a solid beat of analysts’ EBITDA estimates and EPS in line with analysts’ estimates. The market seems happy with the results as the stock is up 24.8% since reporting. It currently trades at $1.31. Is now the time to buy SmartRent? Access our full analysis of the earnings results here, it’s free. Founded in 1890, Emerson Electric (NYSE:EMR) is a multinational technology and engineering company providing solutions in the industrial, commercial, and residential markets. Emerson Electric reported revenues of $4.87 billion, up 7% year on year, exceeding analysts’ expectations by 1.5%. Still, it was a mixed quarter as it posted a significant miss of analysts’ EBITDA estimates. As expected, the stock is down 7.1% since the results and currently trades at $147.64. Read our full analysis of Emerson Electric’s results here. Playing a role in the construction of the Paris Grand, Trimble (NASDAQ:TRMB) offers geospatial devices and technology to the agriculture, construction, transportation, and logistics industries. Trimble reported revenues of $972 million, up 11% year on year. This print surpassed analysts’ expectations by 2.2%. It was a strong quarter as it also logged full-year EPS guidance beating analysts’ expectations and a beat of analysts’ EPS estimates. Trimble scored the highest guidance raise and highest full-year guidance raise among its peers. The stock is flat since reporting and currently trades at $58.19. Read our full, actionable report on Trimble here, it’s free. A spin-off of a spin-off, Vontier (NYSE:VNT) provides electronic products and systems to the transportation, automotive, and manufacturing sectors. Vontier reported revenues of $756.7 million, down 2.2% year on year. This result beat analysts’ expectations by 1.3%. Overall, it was a strong quarter as it also produced full-year EPS guidance exceeding analysts’ expectations and a solid beat of analysts’ EBITDA estimates. Vontier had the weakest guidance update, slowest revenue growth, and weakest full-year guidance update in the group. The stock is down 5.8% since reporting and currently trades at $31.67. Read our full, actionable report on Vontier here, it’s free. Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership. Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products. By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals. Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

AMETEK’s second quarter results were met with a positive market response, driven by broad-based demand across multiple end markets, particularly in semiconductor, aerospace, and MedTech applications. Management emphasized that robust organic growth, supported by recent acquisitions and high order volumes, contributed significantly to overall performance. CEO David Zapico noted that the company’s ability to deliver “double-digit organic sales growth” and a record backlog was supported by strong execution and effective working capital management. The company’s Electronic Instruments Group benefited from process instrumentation and power solutions, while the Electromechanical Group saw notable contributions from MedTech and automation businesses. Is now the time to buy AME? Find out in our full research report (it’s free). Revenue: $2.04 billion vs analyst estimates of $1.96 billion (15% year-on-year growth, 4.4% beat) Adjusted EPS: $2.09 vs analyst estimates of $1.99 (4.8% beat) Management raised its full-year Adjusted EPS guidance to $8.25 at the midpoint, a 2.6% increase Operating Margin: 25.8%, in line with the same quarter last year Market Capitalization: $57.98 billion While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Deane Dray (RBC Capital Markets) asked if AMETEK is seeing broad-based end-market strength or concentrated growth in specific sectors. CEO David Zapico explained that while AI and semiconductor infrastructure are major contributors, growth is diversified across process, aerospace, and power markets. Matt Summerville (D.A. Davidson) inquired about backlog quality and shipment timing. Zapico noted that approximately 80% of backlog is expected to ship within 12 months and emphasized improved execution and visibility. Nicole DeBlase (Deutsche Bank) questioned the sustainability of recent order growth and whether there was conservatism in the guidance. Zapico responded that organic growth guidance reflects both strong recent orders and prudent forecasting. Daniel DiCicco (BMO Capital Markets) asked about which markets outperformed and if internal AI initiatives are yielding productivity gains. Zapico identified semiconductor and MedTech as standouts and described ongoing AI-driven efficiency projects across the company. Scott Graham (Seaport Research Partners) probed the drivers of core margin expansion. Zapico attributed margin improvement to Paragon Medical’s integration, operational productivity, and positive pricing dynamics. In upcoming quarters, our analysts will monitor (1) the pace of order conversion to revenue and any shifts in backlog realization, (2) the successful integration and margin contribution from acquisitions including Indicor and FARO, and (3) continued demand strength in end markets such as AI-driven semiconductors, aerospace, and MedTech. Execution on product innovation and productivity targets will also be closely watched. AMETEK currently trades at $257, up from $243.77 just before the earnings. Is there an opportunity in the stock? See for yourself in our full research report (it’s free for active Edge members). ONE MORE THING: Top 5 Growth Stocks. The biggest stock winners almost always had one thing in common before they ran. Revenue growing like crazy. Meta. CrowdStrike. Broadcom. Our AI flagged all three. They returned 315%, 314%, and 455%, respectively. Find out which 5 stocks it’s flagging this month — FREE. Get Our Top 5 Growth Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+1,154% between June 2020 and June 2025). Find your next big winner with StockStory today.

Image source: The Motley Fool. Tuesday, Aug. 4, 2026 at 8:30 a.m. ET Vice President, Investor Relations and Treasurer - Kevin Coleman Chairman and Chief Executive Officer - David Zapico Executive Vice President and Chief Financial Officer - Dalip Puri Need a quote from a Motley Fool analyst? Email [email protected] Operator: Good day, and thank you for standing by. Welcome to the Q2 2026 AMETEK Earnings Conference Call. [Operator Instructions] Please be advised that today's conference call is being recorded. I would now like to hand the conference over to your first speaker today, Kevin Coleman, Vice President, Investor Relations and Treasurer. Please go ahead. Kevin Coleman: Thank you, Stephanie. Good morning, and welcome to AMETEK's Second Quarter 2026 Earnings Conference Call. Joining me today are Dave Zapico, Chairman and Chief Executive Officer; and Dalip Puri, Executive Vice President and Chief Financial Officer. During the course of today's call, we will be making forward-looking statements, which are subject to change based on various risk factors and uncertainties that may cause actual results to differ significantly from expectations. A detailed discussion of the risks and uncertainties that may affect our future results is contained in AMETEK's filings with the SEC. AMETEK disclaims any intention or obligation to update or revise any forward-looking statements. Any references made on this call to historical results will be on an adjusted basis, excluding after-tax acquisition-related intangible amortization and excluding acquisition-related costs. Reconciliations between GAAP and adjusted measures can be found in our press release and on the Investors section of our website. We'll begin today's call with prepared remarks, and then we'll open it up for questions. I'll now turn the meeting over to Dave. David Zapico: Thank you, Kevin, and good morning, everyone. AMETEK delivered fantastic results in the second quarter with double-digit organic sales growth, excellent orders growth, strong core margin expansion, outstanding cash flow generation and record earnings ahead of our expectations. We also raised our full year sales and earnings guidance to reflect our outstanding first half results and our positive outlook for the balance of the year. Second quarter sales were a record $2.04 billion, up 15% from the same period in 2025. Organic sales were up 10%. Acquisitions added 5 points with foreign currency flat. Orders were again exceptional in the quarter with continued broad-based growth across all AMETEK divisions. Overall orders were a record $2.3 billion, up 28% versus the prior year, with organic orders up sharply at 25%, leading to a record backlog of $4.11 billion. This outstanding second quarter orders growth follows the first quarter's 22% organic growth, reflecting the strength across our attractive end markets. Operating income for the quarter was a record $544 million, an 18% increase over the second quarter of 2025. Operating margins were excellent in the quarter at 26.6%, up 60 basis points from the prior year. Core margins were 27.1%, up a very strong 110 basis points versus last year's second quarter. EBITDA was a record $644 million, up 14% versus the second quarter of 2025 with EBITDA margins an impressive 31.5%. We also generated strong cash flow in the quarter with free cash flow up 37% to $452 million and free cash flow to net income conversion of very strong 111%, reflecting our outstanding operating performance and working capital management. Diluted earnings per share were a record $2.09, up 17% versus the second quarter of 2025 and above our guidance range of $1.96 to $2 per share. Now I'll share some additional details at the operating group level. Starting with the Electronic Instruments Group. EIG generated outstanding second quarter results with excellent sales growth, strong operating performance and robust orders growth. EIG sales in the quarter were $1.32 billion, up 14% from last year's second quarter. Organic sales were up 7% and acquisitions added 7 points with foreign currency flat. Orders for EIG were again outstanding with overall orders up 23% and organic orders up 20% in the quarter. Growth in both sales and orders was broad-based across all EIG divisions with our process instrumentation, Aerospace and Power businesses all benefiting from their strong positions in attractive markets. EIG's second quarter operating income was $385 million, up 12% versus the second quarter of 2025. Core operating margins were 30.1%, up 40 basis points from the prior year. The Electromechanical Group delivered exceptional results in the second quarter with excellent sales growth, sizable orders growth, strong operating performance and impressive core margin expansion. EMG's second quarter sales were a record $723 million, up 17% versus the prior year. Organic sales were again up double digits at 15%, with acquisitions contributing approximately 2 points to growth. EMG sales growth in the quarter was balanced across our Aerospace, Defense, MedTech and Automation businesses. EMG organic orders were once again exceptional, up 35% versus the prior year. EMG operating income for the second quarter was a record $191 million, up 32% compared to the prior year. EMG's core operating margins were 26.2%, a 290 basis point increase versus the second quarter of 2025. Overall, I'm very pleased with our performance this quarter and in the first half of the year. Our colleagues continue to deliver exceptional high-quality results and position AMETEK for continued growth. Together, we have delivered an exceptional long-term track record and have created meaningful shareholder value. I'm equally pleased with the work we have done to strategically position and align our portfolio with many powerful secular growth drivers. AI is driving sizable demand for advanced semiconductors that require ultra-precise optics, 3D metrology systems and expanded power infrastructure. At the same time, recent geopolitical uncertainties and volatile energy prices are increasing the focus on defense modernization and energy security, creating broad-based demand for our businesses. In addition, innovation-led momentum in MedTech, sustained strength in commercial aerospace and improving demand across precision automation are complementing these secular tailwinds. Looking ahead, we believe these broader investment themes will continue to drive meaningful growth. With that said, I would like to spend a few minutes highlighting how AMETEK's businesses are aligned with key areas of strong demand. RTDS Technologies, a leader in real-time digital simulation of power system infrastructure and hardware-in-the-loop testing, recently received a key order from a data center hyperscaler to help derisk the power profile of a broader data center build-out. RTDS' real-time simulators enable detailed power system analysis, helping engineers anticipate system and device behaviors that can impact electrical system stability, resilience and performance. As data center power ecosystems grow increasingly complex, operators must ensure their power architectures can meet evolving requirements across operating conditions, load cycles and infrastructure changes. RTDS is well positioned to support this critical need. Additionally, our Zygo business, a provider of advanced metrology systems and optical components, is supporting accelerated investment in AI infrastructure with its precision metrology and optical solutions. These solutions are designed into leading semiconductor platforms used to manufacture advanced chips that power AI and next-generation computing. As semiconductor complexity increases, precision becomes more critical. Our customers rely on Zygo's technology to meet tighter tolerances and improve manufacturing yields. Alongside this, demand across the broader semiconductor ecosystem, including memory, logic, advanced packaging and photonics remains strong. Zygo is positioned to benefit from ongoing investment in these infrastructure-enabling technologies. I also want to note the exceptional growth we are seeing within our Paragon Medical business. Continued superb orders growth is being driven by attractive new design wins tied to orthopedics, drug delivery systems and highly engineered medical components. More broadly, Paragon is performing extremely well and delivering outstanding growth and profitability. Excellent job by our RTDS, Zygo and Paragon teams. Now turning to acquisitions and capital deployment. As I have regularly noted, our top capital deployment priority is strategic acquisitions. Our strong balance sheet and consistent robust cash flow provide us the ability to deploy a meaningful amount of capital for acquisitions. We continue to maintain a robust pipeline of acquisition opportunities across deal sizes and expect to remain active in executing on this pipeline. We remain excited for the acquisition of Indicor Instrumentation. Our teams are working through the integration planning, and we continue to expect the acquisition to close in the second half of the year. In addition to our acquisition and capital deployment strategy, we are committed to invest in our businesses to ensure they are well positioned for long-term sustainable growth. In the second quarter, our new product vitality was a strong 25%. These investments in new products help continue to drive our organic growth. Our Hughes-Treitler business, a leading provider of advanced heat exchangers and thermal management solutions for mission-critical Aerospace & Defense applications recently introduced MicroFoil, a next-generation lightweight heat exchanger technology. This new product delivers a compelling combination of exceptional heat transfer performance and an ultra-low weight design, providing customers with a unique solution to address their most demanding applications. MicroFoil's innovative architecture can be easily adapted to curved and conformal spaces, providing exceptional thermal performance for use in aerospace, defense and industrial cooling applications. Congratulations to the Hughes-Treitler team on this outstanding achievement. I would also like to congratulate our Alphasense business for receiving AMETEK's Annual Innovation Award. The AMETEK Innovation Award recognizes our business' efforts to develop and advance next-generation technology, products and solutions for the markets we serve and celebrates the most innovative product development from across the company. Alphasense, which is part of our Process & Analytical Instruments division, is a leading provider of advanced sensors used in environmental, health and safety applications. The latest product, the A2GLF oxygen sensor, was named the recipient of our Innovation Award. This sensor, the world's first galvanic lead-free oxygen sensor, is designed for accurate oxygen gas measurement in demanding environments targeted to OEMs of portable and fixed gas detectors seeking regulatory compliance and environmental controls without sacrificing performance. The sensor is designed to retrofit a large installed base along with next-generation instrument development. Well done to the Alphasense team for this outstanding achievement. Now shifting to our outlook for the balance of the year. Our increased sales and earnings guidance for the year incorporates our strong second quarter results and positive outlook for the balance of the year. For 2026, we now expect overall sales to be up approximately 10% on a percentage basis with organic sales now expected to be up mid- to high single digits versus the prior year. Our diluted earnings per share for the year are now expected to be in the range of $8.20 to $8.30, up 10% to 12% compared to last year's results. This is an increase from our prior full year guide of $7.94 to $8.14 per diluted share. For the third quarter, we anticipate overall sales to be up high single digits on a percentage basis with adjusted earnings of $2.08 to $2.10 per share, up 10% to 11% versus the prior year. To summarize, AMETEK delivered an outstanding second quarter. Our exceptional results reflect our well-positioned portfolio and the disciplined approach of the AMETEK growth model to capitalize on a broadening infrastructure investment environment. AMETEK's mission-critical niche solution position us as a prime beneficiary of the changing macroeconomic environment and will enable us to continue to deliver superior growth for our shareholders. I will now turn it over to Dalip Puri, who will cover some of the financial details of the quarter. Then we'll be glad to take your questions. Dalip? Dalip Puri: Thank you, Dave, and good morning, everyone. As Dave noted, AMETEK delivered another excellent quarter with strong orders, sales and earnings growth, robust core margin expansion and outstanding free cash flow generation. Now let me provide some additional financial highlights for the second quarter. Second quarter general and administrative expenses were 1.5% of sales, in line with last year's second quarter. Second quarter interest expense was $20 million. Second quarter other operating expenses were $6 million compared to $3 million in the second quarter of 2025 due to higher acquisition diligence spend in the quarter. The effective tax rate for the quarter was 17.5%, down from 19% in the second quarter of 2025. For 2026, we now anticipate our effective tax rate to be between 18.5% and 19%. As we have stated in the past, actual quarterly tax rates can vary above or below our full year expected rate due to the timing of discrete tax items. Capital expenditures in the second quarter were $32 million. For the full year, we expect capital expenditures of approximately $160 million or about 2% of sales. Depreciation and amortization expense in the quarter was $106 million. For the full year, we expect depreciation and amortization to be approximately $430 million, including after-tax acquisition-related intangible amortization of approximately $210 million or $0.91 per diluted share. Operating working capital in the second quarter was 16.4% of sales, an impressive 220 basis point improvement versus 18.6% in last year's second quarter. The improvement reflects excellent operational execution across all working capital components, led by strong inventory discipline and improvement in inventory turns, an outstanding company-wide operational achievement. Operating cash flow was exceptionally strong in the second quarter at $484 million, up 35% versus the second quarter of 2025. Free cash flow was also strong, up 37% to $452 million with outstanding free cash flow conversion of 111% for the quarter. For 2026, we continue to expect strong free cash flow conversion of 110% to 115% of net income. Total debt at June 30 was $2 billion, down from $2.3 billion at the end of 2025. Offsetting this debt was cash and cash equivalents of $495 million. At the end of the second quarter, our gross debt-to-EBITDA ratio was 0.8x, and our net debt-to-EBITDA ratio was 0.6x. During the quarter, we also completed the renewal of our committed revolving credit facility. As part of the renewal, the size of AMETEK's revolver facility increased to $3.5 billion, and the maturity was extended until June 2031. This renewal strengthens our liquidity profile, lowers financing costs and positions us well to support future growth initiatives. As Dave noted, we expect to deploy $5 billion on the acquisition of Indicor in the second half of the year. Following the closing of the acquisition, we will continue to have substantial financial capacity, including approximately $2.5 billion of cash and available credit facilities to support our growth initiatives and strategic acquisitions. In summary, AMETEK delivered another outstanding quarter with excellent orders, revenue and earnings growth, robust margin expansion and strong free cash flow conversion. Our leading positions across attractive market segments, combined with our global operating capabilities and strong track record of execution leaves us very well positioned to drive further growth and value creation in '26. Kevin? Kevin Coleman: Thank you, Dalip. Stephanie, can we please open the lines? Operator: [Operator Instructions] Our first question comes from Deane Dray from RBC Capital Markets. Deane Dray: Dave, I was hoping you could take us through your typical end market and regional data points and color. And as you do that, we're seeing a number of the industrial companies reporting this quarter some significant positive inflection in the non-data center part of the industrial economy. We're really in this 2-speed economy. But I would love to hear whether you're seeing some data points, color like that. We saw it with the ISM. So as you take us through the end markets and regions, anything that you could add there would be great. David Zapico: Sure, Deane. But before I answer your question, I wanted to take a moment to congratulate you on your retirement. It's been a complete pleasure working with you. You are a true pro at what you do, and the entire AMETEK team appreciates all of the support you provided us through all the years, really all the best, Deane, to you and your family. Deane Dray: I really appreciate that, Dave, and wishing you and the team all the best as I watch from the sidelines after this quarter, but great thank you very much, and let's dig into your quarter here, if we could. David Zapico: I get your question. So I'll start with -- I'll walk around the end markets, and I'll start with our Process business. Overall sales for our Process businesses were up high teens, driven by contributions from recent acquisitions and excellent high single-digit organic sales growth. Process orders were again outstanding as project activity remains strong. While growth was broad-based, we are seeing the strongest growth across semiconductor and energy-related instrumentation businesses. And for the full year 2026, we now expect sales for our Process segment to be up mid-single digits. Next, I'll go to Aerospace & Defense, where demand across our A&D businesses remains robust with mid-teens organic sales growth in the quarter. Growth was again broad-based. All segments of the A&D market see continued strong demand, notable strength in our commercial OE and commercial aftermarket segment. Our businesses are very well positioned to benefit from increased defense spending and the continued strong commercial aerospace super cycle. We now expect our Aerospace & Defense businesses to be up low double digits versus last year, balanced growth across Commercial and Defense businesses. And our Power businesses delivered mid-single-digit organic sales growth in the quarter, along with strong orders momentum. The orders momentum and growing pipeline are in support of the broader build-out of the power grid. And for 2026, we continue to expect organic sales for our Power businesses to be up mid-single digits. And finally, our Automation & Engineered Solutions growth was again outstanding, mid-teens organic growth in the quarter. We are seeing continued excellent and broad-based growth. The businesses are well aligned with attractive growth applications in MedTech, semiconductor and automation. And for 2026, we now expect organic sales for Automation & Engineered Solutions to be up high single digits organically. Okay. That's the walk around the company. The next thing I'll do is I'll answer your question about the -- looking at the geographies. And really, we were strong in all major regions of the world. The U.S. and Asia were the strongest. In the U.S., we were up low double digits. The strongest growth was in Process and also good growth in our A&D business. Europe was up mid-single digits, driven by strength in Power. And Asia was up low double digits with Automation and Process doing well. So it was a really good quarter and really strength across all major regions. And in terms of the question that you had about the -- where is the growth coming from? Is it broadening? Yes, that's a great question. When I think about it, we have AI infrastructure. You have the needs for semiconductor manufacturing to build the chips. And in the first quarter and the second quarter, we received substantial orders for our highly differentiated unique products in semiconductor optics and metrology and advanced computing technology. That's one area of growth. In terms of Power as a second area, we're well positioned for the power grid build-out. We're providing critical fail safes. We talked about our ruggedized UPS systems for microgrids. We manufacture natural gas turbine sensors that are enabling the electric power build-out. We have successfully monitored their power grid with our Power Instrumentation business. And we have the RTDS business that I talked about, helping hyperscalers build out local power grids when they can't wait for the utilities to do it. So just another example of a growing area that's positioned to help the critical -- build out the critical physical layer for the AI build-out. But in addition to that, we have our Aerospace & Defense, which remains a structural growth driver. We have -- in the commercial market, we have the continuing aerospace super cycle, an almost decade-long backlog. And with the ongoing conflicts in the geopolitical situation, we have really a nondiscretionary demand for global defense modernization. We talked about the last quarter, the UAV programs and missile launcher programs in our last call, where we supply ruggedized thermal management systems and power systems and advanced sensing technology. The combination of this very active defense modernization, combined with the commercial and aerospace super cycle provides another secular growth driver for us. So when I look at this thing, we're really -- there's durability because the underlying capital spend by our customers is driving a multiyear infrastructure build-out, and we are supplying mission-critical essential products for new semiconductor fabs, new power plants, the A&D market, defense modernization. So I believe we're in the beginning stages of a multiyear infrastructure build-out, and we're incredibly well positioned. And to your point, it's great that we're diversified across multiple thematic growth drivers and not dependent on any one single driver. Deane Dray: Dave, that was a great comprehensive answer. And since I did ask what turned out to be a lengthy topic, I'll leave it there, and thank you again for the sendoff. Really appreciate it. Operator: Our next question comes from the line of Matt Summerville of D.A. Davidson. Matt Summerville: Can you maybe talk about the build you're seeing in your backlog and how the duration in your backlog, i.e., visibility compares now to maybe the longer-term AMETEK historical average? And then I have a follow-up. David Zapico: Sure. Our backlog was now $4.11 billion, up about 21% from the end of the year. And we had a positive book-to-bill of 1.12 in the quarter, both groups positive. And we also are executing very well. We saw an acceleration of organic growth from Q1 to Q2. And what you really have is our customers are, related to the infrastructure build-out, are placing orders with us. And our products are customized unique products. So there's some engineering design that goes into this. These are not commodity products. So what we really have is probably 80% of that backlog will ship within the next 12 months. We have the second half of the year filling in very nicely, and we're starting to fill in to '27. So it's very positive, and we're executing very well. Our businesses are performing well, strong execution, disciplined operations, excellent momentum across the portfolio. So what you really have is through our recent acquisitions, we probably have a little mid- and long-cycle performance portfolio than prior, but it's filling nicely, and we have specialized products and our customers are getting the orders in place so that we can deliver the products for them. Matt Summerville: And then just as a follow-up, how much of your business would you say today is tied to thematics involving data center infrastructure build/AI? And when you think about AMETEK's broader business and the level of inbound demand you're seeing, does that inform a greater ability to capture price? David Zapico: Yes, I think the -- Yes. In terms of pricing, we have a highly differentiated, highly engineered IP-driven product portfolio. And we put in healthy levels of RD&E investment, and it results in high vitality in our products. It was 25% in the quarter, as I said in my prepared remarks. So we're niche leaders, mission-critical products. We solve some of our customers' most difficult problems. And when you put all that together, in addition, they're in environments that there are high switching costs and regulatory-driven markets. So the price of failure is high. So all these factors give us the ability to offset inflation and tariffs with price. And in the quarter, we offset inflation and tariffs a little more than price, and we continue to expect to do that. And it's really given the unique portfolio construction of focusing on these products and this heavy level of R&D investment that go together and provide that we have a special place in our customers' value chain. That's how I would explain it. Matt Summerville: And then the question on how much of your business today would you roughly estimate is tied either directly or indirectly to data center infrastructure build-out/AI? David Zapico: Yes. I think that the data center/AI part of it, along with the military modernization, along with the commercial aerospace, along with the power infrastructure, I put that whole bucket together, and it's about half of our business. In terms of data center, in the data center, it's actually smaller, but in all the related parts of it in terms of semiconductor, in terms of the power grid, in terms of the items that I talked about, it's actually quite broad and broadening to Deane's question and his point. But in the data center, it's not big enough to report on a specific segment. But what's happening now is the growth is expanding from that, and we're very well positioned. Operator: Our next call is from Nicole DeBlase of Deutsche Bank. Nicole DeBlase: Maybe we could just start with double-clicking a little bit on orders, really strong results there. Anything notable with respect to like large or lumpy orders? Just trying to think about the sustainability of the strength that you guys have seen in order growth into the second half. And maybe, Dave, if you're willing to share anything about what you've seen in the month of July, that would be helpful, too. David Zapico: Yes. As I mentioned, the orders were excellent in the quarter, 28%, organic 25%. Book-to-bill was solid at 1.12, and both groups were positive. In terms of cadence, June was the strongest month for orders in the quarter in all time. So we had a record for the month of June. And we just finished July, and the orders were very good. So it's continuing. So I would say that there's a bit of a lumpy nature to the order. But as I mentioned prior to Deane's question, I mean, we really have what I believe is organic growth durability because the underlying capital spend by our customers is driven by this multiyear investment infrastructure build-out. And we're kind of locked into these opportunities with our pedigree and regulatory mandates and security priorities. So it's very encouraging. And again, it's not just the AI build-out. It's not just the Power build-out. It's not just the Defense modernization. It's not just energy security with our energy businesses going very well. It's not just the commercial A&D business super cycle. It's kind of all of them. We're in the right places. We're in the right places. We have unique capability, and we think we're in the early innings of a mission-critical infrastructure build-out, and it feels pretty good. Nicole DeBlase: Excellent. And then as a follow-up, I guess, just considering the strong order growth that you guys have seen for the past 2 quarters, you are modeling a bit of a decel in organic revenue growth to high single digits in the third quarter. Is there maybe just some conservatism baked in there? I know that the prior year comps are a little bit tougher. If you could maybe double-click on that a bit. And then any big differences in EMG versus EIG within that 3Q expectation? David Zapico: Yes. I think that what you're seeing there is in the second -- in the -- we flowed through the Q2 sales and earnings beat, and we also increased our sales and earnings in the second half. So the revised H2 organic sales guide is between 1.5 to 2 points stronger with the EPS flowing through. So we increased the second half of the year from our prior guide. I think for sure, we're very confident in the guide, and it has a bit of AMETEK prudence or conservatism built into it. So we're confident we can deliver the second half. Operator: Our next question comes from the line of Daniel DiCicco, BMO Capital Markets. Daniel DiCicco: Just in terms of the end markets, I mean, just in the quarter, where did you see the most acceleration? And then did any of the markets maybe come in below expectations? I know it sounded like everything was pretty strong. David Zapico: No, I think it was -- everything was pretty strong. If I had to point to a couple of markets, I'd point to the semiconductor market, especially in EIG. And I actually point to the MedTech market in EMG, where Paragon had just an outstanding quarter. So those will be the 2 standouts. So with the Aerospace was obviously very strong and the Power orders were good. But in EIG, it was the semiconductor orders that stood out. And to me, and then in EMG, it was the MedTech orders from Paragon that stood out. And Paragon is an interesting great example of the AMETEK growth model in action. Many of you know that soon after we acquired Paragon, we ran into a pandemic-driven inventory destock, and it was a little more significant than we modeled. But we utilized that downturn when the sales volume was lower to accelerate our integration activities. And this allowed us to absorb the integration friction when the volume was low. And now the volume is back. So we're getting excellent leverage on our growth. And very importantly, we continue to invest in all the new product development opportunities in Paragon, and this allowed for phasing in of new product wins and allowed us to capture outsized margin expansion in EMG. That was a key driver of the margin. So I just think that the whole Paragon and how well they're doing now and the tremendous order growth they have because they won new products. That's not really a market trend. It's a great business that won new products. It just shows you that the AMETEK growth model is relentless, the relentless implementation of the AMETEK growth model really delivers over time, and our teams are continuing to do an outstanding job. Daniel DiCicco: Great. Great. And then just a quick follow-up. I know you've been working on a number of AI pilot programs internally across the businesses in various functions. I was just hoping for an update there and potentially some opportunities, whether that's internal or maybe on the commercial front. David Zapico: Great question, Daniel. We're using AI to improve efficiency and accelerate growth across the entire company. And it impacts all functions. It helps us speed up due diligence. We have agents that are automating document processing, agents to improve customer service. They're helping us to predict and mitigate supply delays. They're improving our products, the predictive maintenance nature of our products, really having a substantial effect in improving the custom engineering design processes. So really all functions of our business. And we're looking at really automating the AMETEK growth model. So all elements of the growth model are being impacted by this. So we're going to get stronger at this in the future. In terms of the deployment, it kind of matches the decentralized nature of the company where our businesses are empowered to deliver AI solutions that are tailored specifically to their needs. But enterprise-wide, the company provides overall governance, technology platforms and policy frameworks. We've had some things that have worked. We have some things that haven't. So we've learned to -- when something has not worked, just move on to the next thing. And we had a wave of 50 projects that I talked about before, some great results. And now we're on to wave 2. And we recently started wave 2. There's another list of projects across the company. We have strong momentum. It's a very exciting time. I think that as we learn about the technology and we get good at deploying it, then we look for a specific instance of something and then deploy it company-wide. So we're in the beginning stages of seeing the benefits. But we have a whole growth model here that is ripe for Automation, and we're looking at applying it to it. At the same time, we're deploying it in our products. We mentioned a call or 2 ago that we have used in our Virtek business that detects critical defects in materials and using AI algorithms to do that. And we mentioned before one of our EIG businesses uses it to improve the predictive maintenance of the businesses. So it's showing up with enhanced products. It's showing up in really the AMETEK growth model, it allows us to build an AI-enabled company. And when you think about our products, they're inherently low obsolescence risk. Our niche portfolio of mission-critical differentiated technology solutions with market-leading specifications combined with these requirements in all these markets on these long-cycle platforms, we have low obsolescence risk. So I think we're in a good position where we're active on getting the tools to make our business -- improve our business where we don't have an obsolescence risk right now. And at the same time, we're enhancing our new products. So it's really important, and we're spending a lot of time on it as many companies are, but I'm pleased with the results that we're seeing. Operator: Our next question comes from Scott Graham of Seaport Research Partners. Scott Graham: Great quarter. Thank you for the rundown so far. I wanted to get at maybe 2 things internally. The core margin expansion of 110 basis points was pretty impressive. Certainly, the organic was part of that. But what were the other features there? Was it mix? And if so, which businesses or otherwise? David Zapico: Yes. It was -- we had an excellent operating quarter, great margin quarter. We had -- on the face of it, margins up 60 basis points. But when you look at the core, it was up 110 basis points. And when you look at the 2 groups, EIG margins were up 40 basis points and -- core margins were up 40 basis points and EMG core margins were up 290 basis points. And EMG is benefiting from what I had talked about earlier in terms of Paragon with new products phasing in with leaned out cost structure. So -- and that drove the bulk of that. But when you look across it all, we had strong incrementals, about 40%. Both groups were near 40%. We had, as you mentioned, the sales growth, good incrementals. But really, we had excellent productivity, too. So we increased our productivity, enterprise-wide productivity target to $160 million this year. I think it was $155 million last quarter. So we had $5 million more in productivity that we got confident in forecasting because of performance during the quarter. And again, as the question that Matt asked earlier, we had positive price where we more than offset inflation and tariffs. So with the solid incrementals, with the excellent productivity and the positive price inflation, it all drove the core margin expansion. Scott Graham: I was also hoping you could maybe update us on Indicor. You've had the company sort of in tow here waiting for the closure of the deal. And has -- have you identified maybe some new synergies? Is there excitement a little bit higher across those 10 business units? David Zapico: Yes. I think the excitement is high with Indicor. I mean we're progressing well through the integration and the regulatory approval process, and we continue to expect it, as I said in my opening remarks in the second half of the year. But to your point, we're very excited about the acquisition. We're acquiring an outstanding group of high-quality businesses with leading market positions in attractive niche markets, very differentiated technologies, strong IP positions, deep domain expertise, similar characteristics to AMETEK with high switching costs, but they have a higher profitable recurring revenue stream of 50% of revenue. So attractive growth profile, excellent profitability. It's just a great strategic fit. In terms of, are we finding more things to get excited about as we work with the team? Teams are working very well, and we have to follow the requirements. We don't own the company now. So we're working on integration planning and working on the closing of the business. The typical cost structures that we have, we're getting very confident that we bought some premier assets. At the same time, they're run very independently without an overriding business system. And we're highly confident that the proven AMETEK growth model is going to add value to this acquisition. And global sourcing, typically one of the largest growth drivers. We confirmed the opportunity. The international sales and service facilities, and we run them as one AMETEK facility in a region that everyone operates out of. Essentially, we provide the hotel that everyone operates out of. And so there's opportunities there for facility rationalization while still letting the business units have their independence. We have a global shared service infrastructure in places like India, Malaysia, Mexico, Serbia, Poland, and that is not available. So there's cost reduction opportunities there. We have a growth philosophy that you operate in a local market to grow locally, a little bit different. And then we have the talented people to help implement it all. So we are getting more confident with the 10% to 12% cost synergy. And we think this is going to be a great acquisition for our shareholders. We're going to deliver exceptional value to them. Operator: Okay. So at this time, we still do have a few additional questions to be available. [Operator Instructions] At this time, we do have a question from Joseph Giordano of TD Cowen. Christopher Grenga: This is Chris Grenga on for Joe. You had highlighted the UAV opportunity, and I was just curious if you could provide a little bit more color on how activity in that market has trended and how you're seeing the scope of opportunities continue to expand. Are there any particular size class of UAV that AMETEK is best positioned for? And do you see any opportunities in other domains beyond unmanned aerial? David Zapico: Yes, there's a tremendous opportunity. And I highlighted -- I think it was last quarter, we had won 3 new UAV programs. One was a U.S.-based program, 2 were with NATO allies. We often provide sensing for fuel sensing. We provide power distribution, lightweight power distribution. We provide cooling for the electronics in the system. So it's been an area of strength for us historically. And as this -- as the UAVs grow, we're well positioned to do well. The other areas that we talked about were in the advanced computing, some of the things that we do with our Abaco business where data analysis is becoming more important. The cooling systems related to electronics implementation. We're very successful in -- with our Rotron and PDT businesses. So we're well positioned in niches where we're the market leader and the opportunities are growing, and we have an established pedigree in these markets, and we specialize in areas, and the customers -- our customers recognize that. So it's a positive area for us and defense modernization is an area that I think is nondiscretionary, and we're well positioned to execute on it. Christopher Grenga: And we've talked -- you talked about the strength in MedTech. And I'm just curious if you could provide any more color as we've heard increasingly constructive commentary across broader life sciences recently, just in terms of what you're seeing in terms of customer spending patterns and any improvement within life sciences in particular? David Zapico: Yes. The point that I talked about at Paragon is more in the MedTech directly. In life sciences, we were out visiting our -- one of our Automation businesses, and they build automation systems for life sciences equipment and their businesses are doing extremely well. So the life sciences is definitely picking up. And this MedTech increase that we have for Paragon is a market improvement, but we also won significantly -- a significant amount of new programs. So that's why that's a little bit outsized. Operator: Our next question is from Andrew Obin of Bank of America. Andrew Obin: Just maybe a question on this ramp. Where does capacity utilization stand today? I think CapEx guidance is up 22% year-over-year from '25. How much of the $160 million is growth CapEx? David Zapico: Yes. I think the growth CapEx is probably about 2/3 of it. And remember that we're largely -- IP drives our business. So it's not like we have a lot of fixed assets. We were at 2% of sales as CapEx. And over the past couple of years, we've built infrastructure. We added capacity in multiple U.S. plants, in Serbia and Mexico, and we're doing some more work in Poland. So capacity-wise, we're not at the limit of capacity because the traditional CapEx is really not what our business is based on. We have a return on tangible capital of about 100%. So that's kind of unique in the industrial world, and it's easy for us to ramp up and ramp down. You've seen that before when we scale up, and you've also seen us to be very flexible when we scale down. So we saw an acceleration in sales, organic sales in both groups this quarter. And we're also -- we increased our guide for the second half of the year. And next year, it's filling in nicely. So I think the -- and one of the things I talked about earlier is in our AI prototypes, we took a product line that took us about 1 year to design a custom new product, and we do it now in a month. And that's an example of using AI to shorten the design cycle. So I think the capacity is well in hand, and you can see that by how efficiently we're operating. We reduced working capital. We generated over 35% more cash flow. So we're operating very, very well, and we have a low CapEx business. And I think in an environment like this, we're going to shine. Andrew Obin: And maybe a follow-up, people ask me on M&A. But maybe can you give us an update on what's happening at FARO? David Zapico: Yes, sure. FARO, as a reminder, designs and develops advanced 3D metrology and digital reality solutions. And we have now leadership position and measurement arms, laser scanners, laser trackers, and it was an excellent strategic fit with our Creaform business as the FARO's product suite really complements the existing AMETEK Creaform metrology capabilities. And the teams are doing great. We were just up there as part of our North American regional operating review, and the teams are working well. The integration is on plan. I think you'll see the businesses with some substantial margin upside over the next 6 to 12 months. So everything is going very well, and all of our plans are intact, and it is going to be an acquisition that pays off for the long term for AMETEK as we put together a couple of market leaders, and we feel really good about it. Operator: The next question is from Christopher Glynn of Oppenheimer & Company. Christopher Glynn: So the 35% organic orders number for EMG, just wanted to revisit that first to make sure I heard it right. And second, I think you drilled down on maybe MedTech and Defense being particular accelerators, but the 35% maybe means more than a couple of accelerators. Curious if Automation took more of a... David Zapico: Yes, Automation was, Chris. And it's what I mentioned, the life sciences part of our Automation business really accelerated. So that was another big growth driver. It was a bit lower than the MedTech and the Defense, but it was right up there. Christopher Glynn: Okay. Great. And then on the Defense side, are you seeing comparable input from U.S. and allies each? David Zapico: We're seeing more input from the U.S. given the size of the Defense infrastructure, but there's a notable increase with NATO allies off a smaller base. Christopher Glynn: Okay. Great. And just a clarification. Were there any tariff refunds impacting the margins in the quarter? David Zapico: No. Operator: Our final question will come from Andy Kaplowitz of Citigroup. Andrew Kaplowitz: Dave, you talked about your Power business. From our vantage point, there continues to be a large pipeline of opportunity there, particularly as you know, in the U.S. So maybe talk about why mid-single-digit organic sales growth in '26 is the right number? And could you grow faster than that in the future? David Zapico: We could grow faster. We could grow faster. It's more tied to the grid expansion, and we talked about -- the orders were very strong. So that's an area where you're going to see increased sales growth going forward because the orders growth precedes the sales growth. But it is -- the orders momentum and the growing pipeline are really in support of the growing build-out of the power grid. Andrew Kaplowitz: Got it. And I just wanted to double-click on EIG margin for a second. You just talked about FARO and how it's tracking. So that would get -- I mean, your core margins were obviously good up 40 basis points. But if FARO continues to improve, that's going to help with overall margins, right? That's how we should think about the overall margin trajectory moving forward in that segment. David Zapico: Yes. We almost have lapped the 1-year FARO ownership. So I'm not sure if it's next quarter or the quarter after. I think it's next quarter. Unknown Executive: This quarter. David Zapico: Okay. It's in July. So FARO will show up in our core margins going forward, and there's a lot of opportunity there. So after 1 year, the acquisitions become core, Andy. Operator: This concludes the question-and-answer session. I would now like to turn it back to Kevin Coleman for closing remarks. Kevin Coleman: Thanks, Stephanie, and thank you for joining our call today. As a reminder, a replay of today's webcast may be accessed in the Investors section of ametek.com. Have a great day. Operator: Thank you for your participation in today's conference. This does conclude the program. You may now disconnect. Before you buy stock in Ametek, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Ametek wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $411,427!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,335,252!* Now, it’s worth noting Stock Advisor’s total average return is 965% — a market-crushing outperformance compared to 215% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of August 11, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. AMETEK (AME) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

IonQ, Inc. IONQ reported an adjusted loss of 33 cents per share for the second quarter of 2026, wider than the year-ago loss of 8 cents. The figure missed the Zacks Consensus Estimate by 13.8%. Revenues surged 287% year over year to $80.1 million and topped the Zacks Consensus Estimate by 20.63%. Following the announcement yesterday, IONQ shares gained 1.13% in the after-market session. International customers generated approximately 50% of quarterly revenues, helped by deployments in South Korea and Switzerland. IonQ now delivers solutions in more than 50 countries across six continents. Commercial customers, which exclude U.S. government customers, accounted for roughly 60% of revenues. Multi-product sales increased 40% year over year and represented about 25% of the total, reflecting customer purchases across computing, networking, sensing and security. Remaining performance obligations (RPOs) reached $485 million at quarter-end, up from $470 million in the first quarter and $122 million a year earlier. The increase indicates that new contract activity more than replenished revenues recognized during the quarter. IonQ, Inc. price-consensus-eps-surprise-chart | IonQ, Inc. Quote Management noted that potential business tied to memorandums of understanding with Anduril and Sandia National Laboratories was not included in RPOs. These relationships remain at an early stage and could involve defense, national security and quantum co-design opportunities. The adjusted cost of revenues, excluding depreciation and amortization, totaled $44.8 million, resulting in adjusted gross profit of $35.3 million on revenues of $80.1 million. Adjusted gross margin was 44.1% in the second quarter of 2026. GAAP operating expenses totaled $417.3 million. Research and development was the largest component at $160.6 million, followed by general and administrative expenses of $117.6 million, depreciation and amortization of $46.1 million, and sales and marketing expenses of $32.9 million. Adjusted EBITDA loss was $120.3 million compared with a loss of $36.5 million a year ago. The result included $24.7 million in R&D costs related to the commercial relationship with SkyWater. Excluding that spending, the adjusted EBITDA loss would have been $95.6 million. IonQ ended the second quarter with substantial financial flexibility. Cash, cash equivalents and investments totaled $3.0 billion as of June 30, 2026, supporting continued investment in quantum-system development, manufacturing capacity and global deployments. On a pro forma basis following the SkyWater acquisition, cash, cash equivalents and investments were $2.0 billion. Management said this capital position, along with no debt, supports the parallel development of IonQ’s 256-qubit and 10,000-qubit systems. IonQ lifted its 2026 revenue guidance to $280-$290 million from the earlier $260-$270 million range. The outlook excludes any contribution from SkyWater and retains management's expectation for 100% year-over-year organic revenue growth. The Zacks Consensus Estimate for revenues currently stands at $267.5 million. IonQ exited the second quarter of 2026 on a mixed note, with a wider-than-expected adjusted loss, while revenues beat estimates. The largest contributor to the quarter's revenue outperformance was continued momentum in fifth-generation quantum computing systems. Commercial momentum extended beyond computing. IonQ began subsystem shipments for Korea Institute of Science and Technology Information, advanced final assembly of a fifth-generation system for QuantumBasel and expanded the number of on-orbit optical communications terminals to a record high of 84. The company also signed memorandums of understanding with Anduril and Sandia National Laboratories for potential defense and national-security applications. Supported by solid quarterly revenues, expanding RPOs and broad demand across its quantum platform, management raised its 2026 revenue outlook, which is highly encouraging. IonQ currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the broader Computer and Technology sector are Advanced Micro Devices AMD, AMETEK, Inc. AME, and Vertex VRTX. Advanced Micro Devices, currently sporting a Zacks Rank #1 (Strong Buy), reported a second-quarter 2026 adjusted EPS of $1.66, which beat the Zacks Consensus Estimate by 3.1%. Revenues of $11.54 billion surpassed the Zacks Consensus Estimate by 1.9%. You can see the complete list of today’s Zacks #1 Rank stocks here. AMD has an earnings growth rate of 75.1% in 2026 compared with the industry’s 7.7% growth. The company surpassed earnings estimates in each of the trailing four quarters, the average surprise being 6.74%. AMETEK, carrying a Zacks Rank #2 (Buy) at present, posted second-quarter adjusted EPS of $2.09, which beat the Zacks Consensus Estimate by 5%. Revenues of $2.04 billion beat the Zacks Consensus Estimate by 4.5%. AME has an earnings growth rate of 9.7% in 2026 compared with the industry’s 4.2% growth. The company’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 4.93%. Vertex, currently carrying a Zacks Rank #2, reported second-quarter earnings of $0.2 per share, which topped the Zacks Consensus Estimate by 5.26%. Revenues of $203.9 million outperformed the consensus mark by 0.98%. VRTX has an earnings growth rate of 26.6% in 2026 compared with the industry’s 20.4% growth. The company’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 2.88%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report IonQ, Inc. (IONQ) : Free Stock Analysis Report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report Vertex Pharmaceuticals Incorporated (VRTX) : Free Stock Analysis Report AMETEK, Inc. (AME) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

AMETEK, Inc. AME reported second-quarter 2026 results, wherein both top and bottom lines surpassed the Zacks Consensus Estimate. AMETEK reported its second-quarter non-GAAP earnings of $2.09 per share, which beat the Zacks Consensus Estimate by 5%. The figure increased 17% year over year. AMETEK’s top line of $2.04 billion surpassed the Zacks Consensus Estimate by 4.5%. The figure increased 15% year over year. The company experienced an increase in sales in its largest EIG segment, along with a year-over-year improvement in the EMG segment. AMETEK, Inc. price-consensus-eps-surprise-chart | AMETEK, Inc. Quote EIG sales (64.6% of total revenues) in the second quarter were $1.32 billion, up 14% from the year-ago quarter’s reported figure. Our model estimate for EIG sales was pegged at $1.26 billion. In the second quarter, revenues from EMG (35.4% of total revenues) were $723.2 million, up 17% from the year-ago quarter. Our model estimate for EMG sales was pegged at $688.6 million. For the second quarter, operating income increased 18% year over year to $544.4 million. The operating margin expanded 60 basis points (bps) from the year-ago quarter. EIG's second-quarter operating income was $384.7 million, up 12% year over year. EMG’s operating income in the quarter increased 32% to $190.5 million. As of June 30, 2026, AME had cash and cash equivalents of $495.5 million compared with the previous quarter’s $481.25 million. As of June 30, 2026, AME’s long-term debt was $1.055 billion, down marginally from the previous quarter’s $1.062 billion. For 2026, AME expects overall sales to increase 10% year over year, up from the prior guidance of overall sales to be up in the high single digits. The Zacks Consensus Estimate is pegged at $8.01 billion, indicating a year-over-year increase of 8.2%. The company expects its adjusted earnings per share to be in the range of $8.20-$8.30, indicating an increase of 10% to 12% year over year, up from its prior guidance of $7.94-$8.14. The Zacks Consensus Estimate for earnings is pegged at $8.14 per share, indicating a year-over-year increase of 9.6%. For the third quarter of 2026, the company expects overall sales to be up in the high single digits compared with the same period last year. The Zacks Consensus Estimate is pegged at $2 billion, indicating a year-over-year increase of 5.8%. Adjusted earnings for the third quarter are expected to be in the range of $2.08-$2.10, indicating a year-over-year increase of 10-11%. The Zacks Consensus Estimate for earnings is pegged at $2.04 per share, indicating a year-over-year rise of 7.9%. Currently, AME carries a Zacks Rank #2 (Buy). Some other top-ranked stocks in the broader Zacks Computer and Technology sector are AppFolio APPF, Amkor Technology AMKR and Amphenol APH, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here. Shares of AppFolio have plunged 14.2% year to date. The Zacks Consensus Estimate for APPF’s 2026 earnings is pegged at $6.90 per share, up by 2.2% over the past 30 days, indicating an increase of 30.4% year over year. Shares of Amkor Technology have jumped 41.5% year to date. The Zacks Consensus Estimate for AMKR’s 2026 earnings is pegged at $2.62 per share, up by 17.5% over the past seven days, indicating a rise of 74.7% year over year. Amphenol shares have surged 26.8% year to date. The Zacks Consensus Estimate for APH’s 2026 earnings is pegged at $5.25 per share, up by 7.8% over the past seven days, indicating an increase of 57.2% year over year. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AMETEK, Inc. (AME) : Free Stock Analysis Report Amphenol Corporation (APH) : Free Stock Analysis Report Amkor Technology, Inc. (AMKR) : Free Stock Analysis Report AppFolio, Inc. (APPF) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Revenue: Record $2.04 billion, up 15% year-over-year, with organic sales up 10%. Orders: Record $2.3 billion, up 28% year-over-year, with organic orders up 25%. Backlog: Record $4.11 billion. Operating Income: Record $544 million, up 18% year-over-year. Operating Margin: 26.6%, up 60 basis points; core margins were 27.1%, up 110 basis points. EBITDA: Record $644 million, up 14%, with EBITDA margins of 31.5%. Diluted EPS: Record $2.09, up 17% year-over-year. Free Cash Flow: $452 million, up 37%, with free cash flow conversion of 111%. EIG Sales: $1.32 billion, up 14%, with organic sales up 7%. EIG Operating Income: $385 million, up 12%; core operating margins were 30.1%, up 40 basis points. EMG Sales: Record $723 million, up 17%, with organic sales up 15%. EMG Operating Income: Record $191 million, up 32%; core operating margins were 26.2%, up 290 basis points. Effective Tax Rate: 17.5% for the quarter, down from 19% in the prior year. Operating Working Capital: 16.4% of sales, a 220 basis point improvement year-over-year. Total Debt: $2 billion at June 30, down from $2.3 billion at the end of 2025. Warning! GuruFocus has detected 5 Warning Signs with CTRI. Is AME fairly valued? Test your thesis with our free DCF calculator. Release Date: August 04, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Record Q2 sales of $2.04 billion, up 15% year-over-year, with double-digit organic growth of 10%. Exceptional orders growth of 28% overall and 25% organically, leading to a record backlog of $4.11 billion. Strong core margin expansion of 110 basis points to 27.1%, driven by productivity gains and positive price/cost. Outstanding free cash flow generation of $452 million, up 37%, with a conversion rate of 111%. Raised full-year 2026 sales and EPS guidance, reflecting strong first-half performance and positive outlook. Organic sales growth in the Electronic Instruments Group (EIG) was only 7%, below the company average, due to acquisition-driven growth. The company faces potential integration risks and costs associated with the pending $5 billion acquisition of Indicor Instrumentation. Higher acquisition diligence costs increased other operating expenses to $6 million in the quarter. The company's guidance for the second half of 2026 implies a slowdown in organic sales growth to mid-to-high single digits, which may be conservative. Geopolitical uncertainties and volatile energy prices could impact demand in certain end markets, despite current strength. Q: Dave, I was hoping you could take us through your typical end market and regional data points and color. As you do that, we're seeing a number of the industrial companies reporting this quarter some significant positive inflection in the non-data center part of the industrial economy. We're really in this two-speed economy, but I would love to hear whether you're seeing some data. Color like that. We saw it with the ISM. So as you take us through the end markets and regions, anything that you could add there would be great. Thanks.A: (David Zapico, Chairman and CEO) We saw strength across all major regions, with the US and Asia up low double-digits and Europe up mid-single-digits. In terms of end markets, our process businesses were up high-teens, aerospace and defense saw mid-teens organic growth, and automation and engineering solutions were up mid-teens. We believe we are in the beginning stages of a multi-year infrastructure build-out, driven by AI, power grid expansion, defense modernization, and the commercial aerospace supercycle. We are diversified across multiple thematic growth drivers and not dependent on any single one. Q: Can you maybe talk about the build you're seeing in your backlog and how the duration in your backlog, i.e. Visibility, compares now to maybe the longer-term Ametek historical average?A: (David Zapico, Chairman and CEO) Our backlog is now $4.11 billion, up about 21% from the end of the year, with a positive book-to-bill of 1.12 in the quarter. About 80% of that backlog will ship within the next 12 months. The second half of the year is filling in very nicely, and we are starting to fill in 2027. Our customers are placing orders for our customized, unique products related to the infrastructure build-out, which provides strong visibility. Q: Maybe we could just start with double-clicking a little bit on orders, really strong result there. Anything notable with respect to like large or lumpy orders? Just trying to think about the sustainability of the strength that you guys have seen in order growth into the second-half. And maybe, Dave, if you're willing to share anything about what you've seen in the month of July, that would be helpful, too.A: (David Zapico, Chairman and CEO) Orders were excellent in the quarter, up 28% overall and 25% organically. June was the strongest month for orders in the quarter at an all-time record, and July orders were also very good. While there is a bit of a lumpy nature to orders, the underlying capital spend by our customers is driven by a multi-year investment infrastructure build-out. We are locked into these opportunities with our pedigree, regulatory mandates, and security priorities, making the growth portable. Q: Just in terms of the end markets, I mean, just in the quarter, where did you see the most acceleration and then did any of the markets maybe come in below expectations? I know it sounded like everything was pretty strong.A: (David Zapico, Chairman and CEO) Everything was pretty strong, but the two standout markets were semiconductors in EIG and medtech in EMG, where Paragon had an outstanding quarter. Paragon is a great example of the Ametek growth model in action. We utilized the pandemic-driven downturn to accelerate integration activities and absorb friction when volume was low. Now that volume is back, we are getting excellent leverage on growth, with new product wins phasing in and capturing outsized margin expansion. Q: The core margin expansion of 110 basis points was pretty impressive. Certainly, the organic was part of that, but what were the other features there? Was it mix and if so, which businesses or otherwise?A: (David Zapico, Chairman and CEO) We had an excellent operating quarter with strong incrementals of about 40% in both groups. EMG core margins were up 290 basis points, driven by Paragon's new products phasing in with a leaned-out cost structure. We also increased our enterprise-wide productivity target to $160 million this year, and we had positive price, more than offsetting inflation and tariffs. These factors combined to drive the strong core margin expansion. Q: I was also hoping you could maybe update us on Indicor. You've had the company sort of in tow here waiting for the closure of the deal and have you identified maybe some new synergies? Is there excitement a little bit higher across those 10 business units?A: (David Zapico, Chairman and CEO) We are progressing well through the integration and regulatory approval process and continue to expect the acquisition to close in the second half of the year. We are getting more confident in the 10-12% cost synergy target. We have confirmed opportunities in global sourcing, international sales and service facilities, and global shared services. The Indicor businesses have a higher profitable recurring revenue stream of 50% of revenue, and we are highly confident the proven Ametek growth model will add significant value. Q: You had highlighted the UAV opportunity, and I was just curious if you could provide a little bit more color on how activity in that market has trended. And how you're seeing the scope of opportunities continue to expand. Are there any particular size class of UAV that Ametec is best positioned for and do you see any opportunities in other domains beyond unmanned aerial?A: (David Zapico, Chairman and CEO) There is tremendous opportunity in UAVs. We recently won three new UAV programsone US-based and two with NATO allies. We provide fuel sensing, lightweight power distribution, and cooling for electronics in these systems. Beyond UAVs, we are also well positioned in advanced computing with our Abaco business and cooling systems with our Rotron and PDT businesses. Defense modernization is a non-discretionary area where we have established pedigree and are well positioned to execute. Q: Just maybe a question on this ramp. Where does capacity utilization stand today? I think CapEx guidance is up 22% year-over-year from '25. How much of the $160 million is growth CapEx?A: (David Zapico, Chairman and CEO) Growth CapEx is probably about two-thirds of the $160 million. We are largely an IP-driven business with a return on tangible capital of about 100%, so we don't have a lot of fixed assets. We have added capacity in multiple US plants, Serbia, and Mexico, and are doing more work in Poland. We are not at capacity limits, and we have the flexibility to ramp up and down easily. We are operating very efficiently, as evidenced by reduced working capital and over For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Performance was driven by a 'multi-year infrastructure build-out' where AMETEK provides mission-critical physical layer components for AI, semiconductor fabs, and power plants. Organic sales growth accelerated from Q1 to Q2, supported by a record backlog of $4.11 billion, of which approximately 80% is expected to ship within the next 12 months. The Electromechanical Group (EMG) achieved exceptional 290 basis point core margin expansion, fueled by new product wins in MedTech and a leaned-out cost structure at Paragon Medical. Management attributes pricing power to a highly differentiated, IP-driven portfolio with high switching costs and regulatory mandates, allowing them to more than offset inflation and tariffs. Strategic positioning in Aerospace & Defense is benefiting from a 'commercial aerospace super cycle' and 'nondiscretionary demand' for global defense modernization. The AMETEK Growth Model is being enhanced through AI pilot programs aimed at automating document processing, supply chain mitigation, and shortening custom engineering design cycles. Full-year 2026 organic sales guidance was raised to mid-to-high single digits, reflecting a 1.5 to 2 point increase in the second-half outlook compared to prior projections. Management expects the $5 billion acquisition of Indicor Instrumentation to close in the second half of the year, targeting 10% to 12% cost synergies through global sourcing and shared services. The company anticipates continued strong free cash flow conversion of 110% to 115% of net income for the full year 2026. Capital expenditure is projected at approximately $160 million (2% of sales), with roughly two-thirds dedicated to growth initiatives in regions like Poland, Serbia, and Mexico. The Power business is expected to see increased sales growth in future periods as current strong orders momentum translates into grid expansion projects. Operating working capital improved by 220 basis points to 16.4% of sales, driven by disciplined inventory management and improved turns. The company renewed its revolving credit facility, increasing the size to $3.5 billion and extending maturity to June 2031 to support future M&A. Acquisition of FARO is transitioning into 'core' results starting in Q3, with management identifying substantial margin upside potential over the next 6 to 12 months. Geopolitical uncertainties and volatile energy prices are cited as primary drivers for increased demand in defense modernization and energy security instrumentation. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management noted that June was the strongest month for orders in company history, and July orders remained 'very good,' indicating sustained momentum. The growth is described as durable due to underlying capital spend tied to long-cycle infrastructure projects rather than short-term lumpy demand. Combined exposure to AI infrastructure, military modernization, commercial aerospace, and power grid build-out represents about half of the total business. While pure data center exposure is not yet large enough to report as a segment, AMETEK is winning critical orders for real-time digital simulation and semiconductor metrology to support hyperscaler build-outs. Management expressed high confidence in the 10% to 12% cost synergy target, noting Indicor currently lacks an overriding business system or global shared service infrastructure. AMETEK plans to apply its 'hotel' model for international facilities to rationalize costs while maintaining the independence of Indicor's 10 business units. The 35% organic order growth in EMG was driven by a notable acceleration in Life Sciences automation and significant new program wins at Paragon Medical. Management clarified that the MedTech strength is a combination of market improvement and specific AMETEK market-share gains through new product development.

BERWYN, Pa., Aug. 4, 2026 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) today announced its financial results for the second quarter ended June 30, 2026. AMETEK's second quarter 2026 sales were a record $2.04 billion, a 15% increase over the second quarter of 2025. On a GAAP basis, second quarter earnings were a record $1.77 per diluted share. Adjusted earnings in the quarter were a record $2.09 per diluted share, up 17% from the second quarter of 2025. Adjusted earnings adds back non-cash, after-tax, acquisition-related intangible amortization, financing fees and integration costs of $0.32 per diluted share. GAAP operating income was a record $528.2 million. Adjusted operating income increased 18% to a record $544.4 million and operating margins were 26.6% in the quarter, up 60 basis points from the prior year. Operating cash flow in the quarter was up 35% to $483.7 million and free cash flow to net income conversion was 111%. A reconciliation of reported GAAP results to adjusted results is included in the financial tables accompanying this release and on the AMETEK website. "AMETEK delivered superb results in the second quarter. Strong organic sales growth, contributions from recent acquisitions, and outstanding operating performance led to high-teens earnings growth, excellent 110 basis points of core margin expansion and record operating performance," stated David A. Zapico, AMETEK Chairman and Chief Executive Officer. "Notably, for the second quarter in a row, orders were exceptional, growing 28% in the quarter." Electronic Instruments Group (EIG) EIG sales in the second quarter were $1.32 billion, an increase of 14% over the same period in 2025. On a GAAP basis, EIG's second quarter operating income was $369.8 million. On an adjusted basis, EIG's operating income was up 12% to $384.7 million. "EIG generated outstanding results in the second quarter with mid-teens sales growth, sizeable orders growth and excellent operating performance," commented Mr. Zapico. "Sales growth in the quarter was balanced between organic growth and contributions from recent acquisitions, with excellent orders growth highlighted by our semiconductor and commercial aerospace markets. Further, EIG's strong operating performance drove core margins up 40 basis points to 30.1%." Electromechanical Group (EMG) EMG sales in the second quarter were a record $723.2 million, up 17% from the second quarter of 2025. In the quarter, EMG's GAAP operating income was $189.3 million. On an adjusted basis, EMG's operating income increased 32% to a record $190.5 million and operating income margins were 26.3%. "EMG delivered exceptional results in the second quarter. Strong organic sales growth resulted in sizeable profit growth and 290 basis points of core margin expansion," noted Mr. Zapico. "Orders growth was also outstanding and broad-based in the quarter with notable strength in medtech, defense and automation markets." Third Quarter and Full Year 2026 Outlook "Our businesses performed exceptionally well in the second quarter highlighting the strength of the AMETEK Growth Model, the quality of our business and the attractiveness of our markets. Our broad-based sales and orders growth reflects our unique position as a mission critical provider of highly differentiated solutions supporting strong secular growth markets including the global infrastructure build-out," added Mr. Zapico. "For 2026, we now expect overall sales to be up approximately 10% versus 2025. Adjusted earnings per diluted share are now expected to be in the range of $8.20 to $8.30, up 10% to 12% over the comparable basis for 2025. This is an increase from our prior guidance range of $7.94 to $8.14 per diluted share reflecting our strong underlying performance and outlook for the balance of the year," he added. "For the third quarter of 2026, overall sales are expected to be up high single digits on a percentage basis compared to the third quarter of 2025. Adjusted earnings in the quarter are anticipated to be in the range of $2.08 to $2.10 per share, up 10% to 11% compared to the third quarter of 2025," concluded Mr. Zapico. Conference Call AMETEK will webcast its second quarter 2026 investor conference call on Tuesday, August 4, 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 annual sales of approximately $8.0 billion. The AMETEK Growth Model integrates the Four Growth Strategies - Operational Excellence, Technology Innovation, Global and Market Expansion, and Strategic Acquisitions - with a disciplined focus on cash generation and capital deployment. AMETEK's objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. Founded in 1930, AMETEK has been listed on the NYSE for over 95 years and is a component of the S&P 500. For more information, visit www.ametek.com. 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." Forward-looking statements are subject to various factors and uncertainties that may cause actual results to differ materially from expectations. These factors and uncertainties include risks related to AMETEK's ability to consummate and successfully integrate future acquisitions; risks with international sales and operations, including supply chain disruptions, tariffs, trade disputes and currency conditions; AMETEK's ability to successfully develop new products, open new facilities or transfer product lines; the price and availability of raw materials; compliance with government regulations, including environmental regulations; changes in the competitive environment or the effects of competition in our markets; the ability to maintain adequate liquidity and financing sources; and general economic conditions affecting the industries we serve. A detailed discussion of these and other factors that may affect our future results is contained in AMETEK's filings with the U.S. Securities and Exchange Commission, including its most recent reports on Forms 10-K, 10-Q and 8-K. AMETEK disclaims any intention or obligation to update or revise any forward-looking statements. Contact: Kevin ColemanVice President, Investor Relations and [email protected] Phone: 610.889.5247 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-second-quarter-2026-results-and-raises-full-year-guidance-302841627.html

AMETEK (NYSE: AME) recently reported record second-quarter 2026 results, with sales rising to US$2.04 billion and non-GAAP earnings of US$2.09 per share, exceeding analyst expectations and prompting management to lift full-year adjusted EPS guidance to US$8.25 at the midpoint. The company also highlighted exceptionally strong 28% order growth and raised its full-year 2026 sales and earnings outlook, underscoring momentum from both organic demand and recent acquisitions. Next, we’ll examine how AMETEK’s upgraded full-year guidance and robust order growth influence its existing investment narrative and earnings outlook. Find 53 companies with promising cash flow potential yet trading below their fair value. To own AMETEK, you need to be comfortable with a high-quality, acquisition-supported industrial business that relies on steady demand for specialized instrumentation and controls. The latest record quarter, strong 28% order growth, and upgraded 2026 EPS guidance support the near term earnings catalyst, while also easing (but not removing) concerns that weaker semiconductor and research markets could weigh on organic growth. Among recent announcements, the expanded US$3.5 billion revolving credit facility and new US$4.0 billion term loan tied to the Indicor acquisition stand out, because they reinforce AMETEK’s long running focus on M&A as a contributor to growth. This added financial flexibility sits alongside the latest beat and guidance raise, and together they sharpen the focus on how effectively acquisitions translate into sustained margins and earnings per share over time. However, against this stronger backdrop, investors should still watch the risk that ongoing weakness in semiconductor and research demand could... Read the full narrative on AMETEK (it's free!) AMETEK's narrative projects $9.1 billion revenue and $2.0 billion earnings by 2029. Uncover how AMETEK's forecasts yield a $259.05 fair value, a 6% upside to its current price. Three Simply Wall St Community fair value estimates for AMETEK span roughly US$171 to US$259 per share, showing how far apart individual views can be. When you set these against the company’s reliance on acquisitions like Indicor to support earnings growth, it highlights why many investors prefer to compare several perspectives before deciding what long term performance might look like. Explore 3 other fair value estimates on AMETEK - why the stock might be worth 30% less than the current price! Don't just follow the ticker - dig into the data and build a conviction that's truly your own. A great starting point for your AMETEK research is our analysis highlighting 3 key rewards that could impact your investment decision. Our free AMETEK research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate AMETEK's overall financial health at a glance. Early movers are already taking notice. See the stocks they're targeting before they've flown the coop: We've uncovered the 7 dividend fortresses yielding 5%+ that don't just survive market storms, but thrive in them. The future of work is here. Discover the 36 top robotics and automation stocks leading the charge in AI-driven automation and industrial transformation. Uncover the next big thing with 21 elite penny stocks that balance risk and reward. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include AME. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]