Ametek (AME) Q3 2026 Earnings Report
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MX:AME Q3 2026 EPS Results
- Actual EPS
- MXN 41.01
- Consensus EPS
- MXN 39.12
- Beat/Miss
- Beat by +MXN 1.89
- One Year Ago EPS
- MXN 35.07
MX:AME Q3 2026 Revenue Results
- Actual Revenue
- MXN 41.20B
- Expected Revenue
- MXN 39.38B
- Beat/Miss
- Beat by +MXN 1.82B
- YoY Revenue Growth
- +17.31%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/03/2026
- Time
- Before Open
- Conference Call
- Tuesday, November 3, 2026
MX:AME Upcoming Earnings
Ametek's next earnings date is estimated for February 4, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:AME Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive. AMETEK reported record sales, orders, operating income, margins, EPS, backlog, and free cash flow, with broad-based organic growth across both operating groups and multiple end markets. Management also raised full-year guidance, reported strong order momentum entering the fourth quarter, and expressed confidence in the Indicor integration and acquisition pipeline. The main negative factors were higher interest expense and debt from the Indicor acquisition, a higher tax rate, weaker European performance, and the slower conversion of power orders into sales, but these issues were outweighed by the breadth and strength of the reported results.
Company Guidance
For 2026, AMETEK expects overall sales to be up mid-teens on a percentage basis, organic sales to be up high single digits versus 2025, diluted earnings per share in the range of $8.53-$8.57, up 15% compared to last year's results, and free cash flow conversion between 115% and 120% of net income; fourth-quarter overall sales are anticipated to be up in the low 20% range, with adjusted earnings of $2.26-$2.30 per share, up 12%-14% versus the prior year. The company expects a 2026 effective tax rate between 18% and 18.5%, capital expenditures of approximately $160 million, or 2% of sales, depreciation and amortization of approximately $470 million, including after-tax acquisition-related intangible amortization of approximately $240 million, or $1.05 per diluted share, process organic sales up mid-single digits, aerospace and defense organic sales up low double digits, power up mid-single digits, A&ES organic orders up low double digits, 35%-40% core incrementals, and core margins up about 100 basis points.
- Record Third-Quarter ResultsThird-quarter sales reached a record $2.22 billion, up 17% versus the third quarter of 2025, including 10% organic growth and seven points from acquisitions. Operating income was a record $595 million, up 20%, with operating margins of 26.8%, up 60 basis points. Diluted EPS was a record $2.21, up 17% and above the guidance range of $2.08 to $2.10.
- Exceptional Orders and Backlog GrowthOverall orders were $2.65 billion, up 35% year over year, including 17% organic orders growth. Orders growth was broad-based across the businesses, and backlog reached a record $4.54 billion, up 27% from the beginning of the year. Management stated that approximately 80% of backlog is shippable over the next 12 months.
- Strong Cash Flow GenerationFree cash flow reached a record $527 million, up 26% from the third quarter of 2025, with free cash flow conversion of 124% of net income. Operating cash flow was $561 million, up 27%. Full-year free cash flow conversion guidance was raised to between 115% and 120% of net income.
- Core Margin Expansion and ProductivityCore margins increased 110 basis points year over year to 27.3%, while EBITDA reached a record $704 million, up 19%, with EBITDA margins of 31.7%. Management cited excellent productivity and a positive price-inflation spread as drivers, and said full-year core incrementals are expected to be 35%-40% with core margins up about 100 basis points.
- Electronic Instruments Group PerformanceEIG sales reached a record $1.44 billion, up 16% year over year, including 9% organic growth and seven points from acquisitions. EIG orders increased 37%, including 17% organic growth, while operating income rose 15% to a record $415 million. Core operating margins were 29.5%, up 60 basis points.
- Electromechanical Group PerformanceEMG sales reached a record $778 million, up 20% year over year, including 13% organic growth and approximately seven points from acquisitions. EMG orders increased 31%, including 17% organic growth. Operating income rose 29% to a record $212 million, and core operating margins increased 210 basis points to a record 27.5%.
- Indicor Acquisition Completed and ProgressingAMETEK completed the Indicor Instrumentation acquisition during the quarter. Indicor contributed a little greater than $100 million of revenue in the quarter and is described as a $1.1 billion annual revenue stream and a 30% EBITDA business. Management said integration is progressing well, the businesses fit into various AMETEK units, and the company is encouraged by early performance. The stated synergy target is 10%-12% over three years.
- Raised Full-Year and Fourth-Quarter GuidanceAMETEK raised 2026 guidance to overall sales growth in the mid-teens and organic sales growth in the high single digits. Diluted EPS is now expected to be $8.53-$8.57, up 15% from 2025 and above the prior guidance of $8.20-$8.30, including approximately $0.08 of contribution from Indicor. Fourth-quarter sales are expected to grow in the low 20% range, with adjusted EPS of $2.26-$2.30, up 12%-14% year over year.
- Broad-Based End-Market MomentumManagement cited strong secular trends from investment in AI-related infrastructure, defense and energy security, med tech, commercial aerospace, and precision automation. Process organic sales increased high single digits, aerospace and defense organic sales rose mid-teens, power increased mid-single digits, and Automation and Engineered Solutions organic sales also grew mid-teens.
- Strong Geographic Growth Outside EuropeU.S. sales increased low double digits, international sales increased high single digits, and Asia was up in the mid-20s. Management described growth as balanced across U.S. and international markets and said China was up more than the average.
- Positive Order Cadence Entering the Fourth QuarterSeptember was the strongest month for orders and an all-time monthly record. October was described as extremely solid and on plan, with sequential order growth from the second quarter. Both EIG and EMG delivered 17% organic orders growth.
- Pricing Offset Inflation and TariffsManagement reported inflation of about 3% in the quarter, with pricing in excess of inflation, producing a positive price-inflation spread. The company stated that its differentiated, customized products and niche-market leadership enabled it to offset inflation and tariffs with pricing.
- Aerospace and Defense StrengthAerospace and defense represented about 17% of AMETEK's overall business, split approximately evenly between commercial and defense. Commercial OEM and aftermarket growth was especially strong, commercial backlogs were described as very solid, and management said it was not seeing a slowdown. Defense demand was characterized as required spend, with expanding activity in Europe and opportunities involving NATO allies and UAV applications.
- Power Infrastructure OpportunityPower orders grew double digits while sales grew mid-single digits, supported by grid expansion and data-center infrastructure investments. Management said the company is tied more to grid expansion than data-center growth and highlighted growth in RTDS, nuclear power, and natural-gas infrastructure applications.
- Semiconductor Market AccelerationSemiconductor sales grew mid-teens, while orders increased more than 30%. The semiconductor market represents about 6% of AMETEK, and management cited demand for Cameca defect-detection instruments, Zygo EUV optics, and Abaco durable electronics and control systems used in semiconductor capital equipment.
- Med Tech, Paragon, and Life Sciences GrowthParagon sales increased low double digits and delivered another strong quarter. Management said Paragon's performance was driven by new product wins, share gains, single-use and consumable surgical instruments, and implantable components. Life sciences demand was strongest within the automation business, which supplies motion-control systems and subsystems for life-sciences and medical equipment.
- FARO Integration Exceeding the Initial ModelFollowing the one-year anniversary of the FARO acquisition, management said profitability exceeded the model established at acquisition. Integration was described as progressing well, with expectations remaining in line with the initial plan and additional work planned during year two.
- Innovation and New Product DevelopmentAMETEK continues to invest in innovation and new product development, with new product vitality at 25% for the year. Solidstate Controls introduced the next-generation Digital ProcessPower DPP+ uninterruptible power supply platform, featuring enhanced reliability, diagnostics, monitoring, service capabilities, communications, and a compact footprint.
- Constructive M&A Environment and Acquisition CapacityManagement said the M&A environment remains constructive, the acquisition pipeline is robust, and the company is operating with its foot on the gas pedal with no pause following Indicor. AMETEK reported $2.7 billion in cash and available credit facilities and identified strategic acquisitions as its number one capital-allocation priority.
- Working Capital ImprovementOperating working capital improved to 17.3% of sales, a 160 basis point improvement versus the third quarter of 2025, reflecting strong management of key working-capital components.
- Disciplined Operating Model and Portfolio PositioningManagement highlighted the company's asset-light businesses, moderate capital-investment requirements, end-market diversification, differentiated technologies, high barriers to entry, and ability to respond to changing market conditions. Capital expenditures were $33 million in the quarter, with full-year capital expenditures still expected to be approximately $160 million, or 2% of sales.
- Experienced M&A InfrastructureAMETEK has a dedicated team of 12 M&A professionals supporting deal sourcing, modeling, diligence, and integration. Management said the company has completed more than 120 deals, uses clear metrics and deliverables, and views integration as a core strength of its acquisition process.
MX:AME Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 04, 2027 | 2026 (Q4) | 42.25- | 37.3 | ― | ― |
| Nov 03, 2026 | 2026 (Q3) | 39.1241.01 | 35.07 | 16.93% (+5.94) | |
| Aug 04, 2026 | 2026 (Q2) | 36.9838.78 | 33.03 | 17.42% (+5.75) | |
| Apr 30, 2026 | 2026 (Q1) | 35.2936.56 | 32.47 | 12.57% (+4.08) | |
| Feb 03, 2026 | 2025 (Q4) | 36.0737.30 | 34.7 | 7.49% (+2.60) | |
| Oct 30, 2025 | 2025 (Q3) | 32.6235.07 | 30.8 | 13.86% (+4.27) | |
| Jul 31, 2025 | 2025 (Q2) | 31.3033.03 | 30.8 | 7.23% (+2.23) | |
| May 01, 2025 | 2025 (Q1) | 31.3432.47 | 30.43 | 6.71% (+2.04) | |
| Feb 04, 2025 | 2024 (Q4) | 34.3134.70 | 31.17 | 11.31% (+3.53) | |
| Oct 31, 2024 | 2024 (Q3) | 29.9930.80 | 30.43 | 1.22% (+0.37) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
