AMETEK, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024
May 02, 2024 at 06:55 am EDT
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AMETEK, Inc. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported sales was USD 1,736.18 million compared to USD 1,597.12 million a year ago. Net income was USD 310.94 million compared to USD 305.71 million a year ago.
Basic earnings per share from continuing operations was USD 1.35 compared to USD 1.33 a year ago. Diluted earnings per share from continuing operations was USD 1.34 compared to USD 1.32 a year ago.
AMETEK, Inc. is one of the world's leaders in manufacturing and marketing electronic instruments and electromechanical devices. Net sales break down by family of products as follows:
- electronic instruments (70.1%): instruments and screens for aircrafts cockpits, airborne electronic systems of data surveillance and registering, pressure, temperature and flow sensors for airline companies and aeronautical manufacturers, analysis devices for the medical and research sectors, measurement and surveillance instruments used in the processing industries, instruments and dashboards for heavy trucks and agricultural vehicles, etc.;
- electromechanical devices (29.9%): brushless motors, heat exchangers, connectors, terminals, thermal management subsystems, motors-blowers, etc. primarily for the aeronautic, automotive, medical, computing and defense sectors. The group also provides metal powders and alloys for the manufacturing of electronic components and automotive and aeronautic products.
At the end of 2023, the group had more than 150 production sites worldwide.
Net sales are distributed geographically as follows: United States (52.6%), Asia (20.9%), United Kingdom (3.3%), European Union (14.3%) and others (8.9%).