AMETEK Announces Record Third Quarter Results and Raises Full Year Guidance

BERWYN, Pa., Oct. 30, 2025 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) today announced record financial results for the third quarter ended September 30, 2025.

AMETEK's third quarter 2025 sales were a record $1.89 billion, an 11% increase over the third quarter of 2024. On a GAAP basis, third quarter earnings per diluted share were $1.60. Adjusted earnings in the quarter were a record $1.89 per diluted share, up 14% from the third quarter of 2024. Adjusted earnings adds back non-cash, after-tax, acquisition-related intangible amortization of $0.22 per diluted share and excludes acquisition-related pre-tax costs of $19.7 million, or $0.07 per diluted share, for the FARO Technologies acquisition.

GAAP operating income was a record $488.4 million, or 25.8% of sales. Adjusted operating income was a record $496.1 million, up 11% versus last year's third quarter. 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 impressive results in the third quarter, highlighted by double digit growth in sales, orders and earnings per share, along with an outstanding 90 basis points of margin expansion excluding the impact of recent acquisitions," stated David A. Zapico, AMETEK Chairman and Chief Executive Officer. "The strength of the AMETEK Growth Model and the excellent contributions from our colleagues led to record results in the quarter."

Electronic Instruments Group (EIG)

EIG sales in the third quarter were a record $1.25 billion, an increase of 10% over the same period in 2024. On a GAAP basis, EIG's third quarter operating income was $352.4 million, or 28.3% of sales. Adjusted EIG operating income was $360.2 million, up 6% from the prior year.

"EIG delivered solid results in the quarter with strong profit growth and 50 basis points of margin expansion excluding the impact of recent acquisitions," stated Mr. Zapico. "Additionally, we are pleased with the progress of the Faro Technologies integration and excited for the growth opportunities ahead for our expanded metrology platform."

Electromechanical Group (EMG)

EMG sales in the third quarter were a record $646.3 million, up 13% from the third quarter of 2024. EMG's third quarter operating income increased 25% to a record $163.9 million, and operating income margins were 25.4% in the quarter, up 250 basis points versus the prior year's results.

"EMG's third quarter results were outstanding, with broad based sales and orders growth led by Paragon Medical, resulting in record operating income and sizeable margin expansion," noted Mr. Zapico. "This performance reflects the strength of our differentiated businesses and our unwavering focus on operational excellence."

2025 Outlook

"Our businesses performed exceptionally well in the third quarter, delivering strong growth and impressive operating results," noted Mr. Zapico. "AMETEK's flexible operating structure, diverse and attractive end market exposures, and strong cash flows position us well for sustained success."

"For 2025, we continue to expect overall sales to be up mid-single digits compared to 2024. Adjusted earnings per diluted share are now expected to be in the range of $7.32 to $7.37, up 7% to 8% over the comparable basis for 2024. This is an increase from our previous guidance range of $7.06 to $7.20," he added.

"For the fourth quarter of 2025, overall sales are expected to be up approximately 10% compared to the same period last year. Adjusted earnings in the quarter are anticipated to be in the range of $1.90 to $1.95 per share, up 2% to 4% compared to the fourth quarter of 2024," concluded Mr. Zapico.

Conference Call

AMETEK will webcast its third quarter 2025 investor conference call on Thursday, October 30, 2025, beginning at 8:30 AM ET. The live audio webcast will be available and later archived in the Investors section of www.ametek.com.

About AMETEK

AMETEK (NYSE: AME) is a leading global provider of industrial technology solutions serving a diverse set of attractive niche markets with annualized sales of approximately $7.5 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 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 Coleman

Vice President, Investor Relations and Treasurer

kevin.coleman@ametek.com

Phone: 610.889.5247

AMETEK, Inc.

Consolidated Statement of Income

(In thousands, except per share amounts)

(Unaudited)

Three Months Ended

September 30,

Nine Months Ended

September 30,

2025

2024

2025

2024

Net sales

$ 1,892,641

$ 1,708,564

$ 5,402,668

$ 5,179,578

Cost of sales

1,206,505

1,092,754

3,455,643

3,347,860

Selling, general and administrative

197,756

169,959

542,190

521,137

Total operating expenses

1,404,261

1,262,713

3,997,833

3,868,997

Operating income

488,380

445,851

1,404,835

1,310,581

Interest expense

(22,514)

(25,118)

(58,364)

(90,962)

Other (expense) income, net

(17,901)

(1,888)

(22,115)

(2,435)

Income before income taxes

447,965

418,845

1,324,356

1,217,184

Provision for income taxes

76,549

78,604

242,815

228,317

Net income

$ 371,416

$ 340,241

$ 1,081,541

$ 988,867

Diluted earnings per share

$ 1.60

$ 1.47

$ 4.67

$ 4.26

Basic earnings per share

$ 1.61

$ 1.47

$ 4.69

$ 4.28

Weighted average common shares outstanding:

Diluted shares

231,670

232,224

231,561

232,188

Basic shares

230,733

231,342

230,740

231,292

Dividends per share

$ 0.31

$ 0.28

$ 0.93

$ 0.84

AMETEK, Inc.

Information by Business Segment

(In thousands)

(Unaudited)

Three Months Ended

September 30,

Nine Months Ended

September 30,

2025

2024

2025

2024

Net sales:

Electronic Instruments

$ 1,246,332

$ 1,134,588

$ 3,549,576

$ 3,444,980

Electromechanical

646,309

573,976

1,853,092

1,734,598

Consolidated net sales

$ 1,892,641

$ 1,708,564

$ 5,402,668

$ 5,179,578

Operating income:

Segment operating income:

Electronic Instruments

$ 352,437

$ 338,963

$ 1,050,915

$ 1,041,760

Electromechanical

163,875

131,519

436,481

345,312

Total segment operating income

516,312

470,482

1,487,396

1,387,072

Corporate administrative expenses

(27,932)

(24,631)

(82,561)

(76,491)

Consolidated operating income

$ 488,380

$ 445,851

$ 1,404,835

$ 1,310,581

AMETEK, Inc.

Condensed Consolidated Balance Sheet

(In thousands)

September 30,

December 31,

2025

2024

(Unaudited)

ASSETS

Current assets:

Cash and cash equivalents

$ 439,237

$ 373,999

Receivables, net

1,135,967

948,830

Inventories, net

1,153,074

1,021,713

Other current assets

333,267

258,490

Total current assets

3,061,545

2,603,032

Property, plant and equipment, net

845,603

818,611

Right of use assets, net

267,589

235,666

Goodwill

7,185,294

6,555,877

Other intangibles, investments and other assets

4,822,226

4,417,983

Total assets

$ 16,182,257

$ 14,631,169

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Short-term borrowings and current portion of long-term debt, net

$ 1,038,143

$ 654,346

Accounts payable and accruals

1,611,660

1,444,241

Total current liabilities

2,649,803

2,098,587

Long-term debt, net

1,426,072

1,425,375

Deferred income taxes and other long-term liabilities

1,579,506

1,451,903

Stockholders' equity

10,526,876

9,655,304

Total liabilities and stockholders' equity

$ 16,182,257

$ 14,631,169

AMETEK, Inc.

Reconciliations of GAAP to Non-GAAP Financial Measures

(In thousands, except per share amounts)

(Unaudited)

Three Months Ended September 30,

2025

2024

EIG Segment operating income (GAAP)

$ 352,437

$ 338,963

Acquisition-related costs (1)

7,750

—

Adjusted EIG Segment operating income (Non-GAAP)

$ 360,187

$ 338,963

Operating income (GAAP)

$ 488,380

$ 445,851

Acquisition-related costs (1)

7,750

—

Adjusted Operating income (Non-GAAP)

$ 496,130

$ 445,851

Other Income (Expense), net

$ (17,901)

$ (1,888)

Acquisition-related costs (1)

11,992

—

Adjusted Other Income (Expense), net

$ (5,909)

$ (1,888)

Diluted earnings per share (GAAP)

$ 1.60

$ 1.47

Acquisition-related costs (1)

0.09

—

Income tax benefit on acquisition-related costs (1)

(0.02)

—

Pretax amortization of acquisition-related intangible assets

0.29

0.26

Income tax benefit on amortization of acquisition-related intangible assets

(0.07)

(0.06)

Rounding

—

(0.01)

Adjusted Diluted earnings per share (Non-GAAP)

$ 1.89

$ 1.66

Change

EIG Segment operating margin (GAAP)

28.3 %

29.9 %

Acquisition-related costs (1)

0.6 %

— %

Dilutive impact of acquisitions (2)

1.5 %

— %

Adjusted EIG Segment operating margin (Non-GAAP)

30.4 %

29.9 %

0.5 %

Operating income margin (GAAP)

25.8 %

26.1 %

Acquisition-related costs (1)

0.4 %

— %

Dilutive impact of acquisitions (2)

0.8 %

— %

Adjusted Operating income margin (Non-GAAP)

27.0 %

26.1 %

0.9 %

(1) -

Acquisition-related costs are comprised of integration costs recorded in Cost of Sales and transaction costs unique to completed business combinations recorded in Other Income (Expense), net.

(2) -

Excludes the dilutive impact from acquisitions completed in the last twelve months.

AMETEK, Inc.

Reconciliations of GAAP to Non-GAAP Financial Measures

(Unaudited)

Forecasted Diluted Earnings Per Share

Three Months Ended

Year Ended

December 31, 2025

Low

High

Low

High

Diluted earnings per share (GAAP)

$ 1.68

$ 1.73

$ 6.34

$ 6.39

Pretax amortization of acquisition-related intangible assets

0.29

1.20

Income tax benefit on amortization of acquisition-related intangible assets

(0.07)

(0.29)

Acquisition-related costs (1)

—

0.09

Income tax benefit on acquisition-related costs (1)

—

(0.02)

Adjusted Diluted earnings per share (Non-GAAP)

$ 1.90

$ 1.95

$ 7.32

$ 7.37

(1) -

Acquisition-related costs are comprised of integration costs recorded in Cost of Sales and transaction costs unique to completed business combinations recorded in Other Income (Expense), net.

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 and acquisition-related costs (including transaction costs, purchase accounting adjustments, and integration 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.

SOURCE AMETEK, Inc.