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AMETEK, Inc. AME reported fourth-quarter 2024 non-GAAP earnings of $1.87 per share, beating the Zacks Consensus Estimate by 1.6%. The figure increased 11.3% year over year.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
AME’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 2.63%.
AMETEK’s top line of $1.76 billion missed the Zacks Consensus Estimate of $1.81 billion by 2.47%. The figure increased 1.8% year over year.
Shares of AME have gained 8% in the past year, outperforming the Zacks Electronics - Testing Equipment industry’s gain of 6.6%. AMETEK’s guidance for first-quarter 2025 revenues and earnings outlook are unlikely to drive a significant increase in AME's stock price.
AMETEK, Inc. Price, Consensus and EPS Surprise
AMETEK, Inc. price-consensus-eps-surprise-chart | AMETEK, Inc. Quote
Ametek’s Q4 2024 Details
EIG sales (68.8% of total revenue) in the fourth quarter were $1.21 billion, down 2% from the year-ago quarter’s reported figure. The EIG sales figure missed the Zacks Consensus Estimate of $1.23 billion.
The EIG segment, which is also the largest segment of Ametek, has experienced project delays as customers remained cautious at year-end, leading to temporary shipment delays. However, the company reported that these headwinds were temporary in nature.
In the fourth quarter, revenues from EMG (31.2% of total revenues) were $546.7 million, up 11% from the year-ago quarter. The figure missed the consensus mark of $571.2 million.
For the fourth quarter, operating income increased 5.4% year over year to $468.9 million and operating margin expanded by 90 basis points (bps) from the year-ago quarter.
EIG’s operating income in the quarter increased 8% to $386.6 million with operating income margins of 31.8%, reflecting an increase of 280 bps from the year-ago reported figure.
EMG's fourth-quarter operating income was $111.2 million and operating income margins were 20.3% in the quarter.
AME’s Balance Sheet & Cash Flow
As of Dec. 31, 2024, AME had cash and cash equivalents of $373.9 million compared with the previous quarter’s figure of $396.3 million.
As of Dec. 31, 2024, the long-term debt declined 19.2% to $1.43 billion from the previous quarter’s levels.
Operating cash flow in the fourth quarter was $550 million, free cash flow was $498.3 million and free cash flow to net income conversion was 129%.
AME Updates Guidance
For the first quarter of 2025, management expects sales to be roughly flat compared to the year-ago quarter’s reported figure. The Zacks Consensus Estimate is pegged at $1.75 billion, reflecting a year-over-year increase of 3.1%.