Ametek, Inc. - AME STOCK NEWS

AMETEK (NYSE: AME) has acquired Virtek Vision International, a Canadian provider of advanced laser-based projection and inspection systems, for an undisclosed amount. Virtek, with annual sales of approximately $40 million, specializes in 3D laser projectors, smart cameras, and AI-driven quality control systems for aerospace, defense, and industrial applications. The company will join AMETEK's Electronic Instruments Group (EIG). This strategic acquisition complements AMETEK's Creaform business, expanding their automated 3D scanning and inspection capabilities. AMETEK, a global industrial technology provider, reports annual sales of approximately $7.0 billion.

AMETEK (NYSE: AME) reported strong Q3 2024 results with sales of $1.71 billion, up 5% year-over-year. Operating income increased 2% to $445.9 million with margins at 26.1%. Operating cash flow grew 3% to $487.2 million. Adjusted earnings were $1.66 per diluted share, up 1% from Q3 2023. The Electronic Instruments Group maintained sales at $1.13 billion with improved margins, while the Electromechanical Group saw 18% sales growth to $574.0 million. The company raised its 2024 guidance, now expecting adjusted EPS of $6.77-$6.82, representing 6-7% growth.

AMETEK, Inc. (NYSE: AME) has announced its third quarter 2024 earnings release and investor conference call schedule. The company will release its earnings before the market opens on Thursday, October 31, 2024. A webcast of the investor conference call will begin at 8:30 AM ET on the same day. Investors can access the live audio webcast through the 'Investors' section of AMETEK's website. A replay of the call will be archived and available until the next quarterly earnings call.

AMETEK is a leading global provider of industrial technology solutions with annual sales of approximately $7.0 billion. The company focuses on serving diverse niche markets and employs the AMETEK Growth Model, which integrates Four Growth Strategies: Operational Excellence, New Product Development, Global and Market Expansion, and Strategic Acquisitions.

Platform Science has expanded its Virtual Vehicle® application platform to include SkyMatch, a tractor-trailer pairing solution from SkyBitz, a brand of AMETEK® Telular (AME). SkyMatch uses smart logic and Bluetooth technology to facilitate quick and accurate tractor-trailer pairing verification. The integration aims to improve fleet efficiency, enhance driver experience, and leverage data better.

Cargo Transporters, with over 1,900 trailers, has already deployed SkyMatch on Virtual Vehicle across its entire fleet, resulting in no cargo claims, improved trailer utilization, and reduced manual entry errors. The solution provides real-time asset awareness and a unified trailer management interface, saving operational and administrative time.

AMETEK, Inc. (NYSE: AME), a leading global provider of industrial technology solutions, has declared a regular quarterly dividend of $0.28 per share for the third quarter ending September 30, 2024. The dividend is payable on September 30, 2024 to shareholders of record as of September 16, 2024. AMETEK, with annual sales of approximately $7.0 billion, focuses on the AMETEK Growth Model, which integrates Four Growth Strategies: Operational Excellence, New Product Development, Global and Market Expansion, and Strategic Acquisitions. The company aims for double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital.

AMETEK, Inc. (NYSE: AME) has appointed Rob Rideout Jr. as Vice President, Strategic Procurement. CEO David A. Zapico expressed confidence in Rideout's ability to drive innovation and excellence in strategic procurement initiatives. Rideout, who joined AMETEK in 2007, has held various leadership roles within the company, most recently serving as Division Vice President of Operations and Supply Chain for Aerospace and Power. He holds a Bachelor of Science degree in Business Administration from the University of New Hampshire.

AMETEK is a leading global provider of industrial technology solutions with annual sales of approximately $7.0 billion. The company focuses on the AMETEK Growth Model, which integrates Four Growth Strategies: Operational Excellence, New Product Development, Global and Market Expansion, and Strategic Acquisitions.

AMETEK (NYSE: AME) has appointed John C. Henriques as Vice President, Corporate Development. Henriques, who joined AMETEK in 2010, has held positions of increasing responsibility and most recently served as Director, Corporate Development. Prior to AMETEK, he was an Investment Banking Associate at Janney Montgomery Scott. Henriques holds a BA in Finance from Franklin & Marshall College and an MBA from Villanova University.

AMETEK, a leading global provider of industrial technology solutions, has annual sales of approximately $7.0 billion. The company's growth model integrates Operational Excellence, New Product Development, Global and Market Expansion, and Strategic Acquisitions, focusing on cash generation and capital deployment. AMETEK aims for double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital.

AMETEK (NYSE: AME) announced the appointment of Vinatha Nathan as Vice President and General Manager of the Measurement, Communications & Testing (MCT) Division, effective August 8, 2024. David A. Zapico, AMETEK Chairman and CEO, praised Nathan's operational background and leadership capabilities.

Ms. Nathan previously served as Senior Vice President & General Manager for Crane Payment Innovations and held various senior roles at Crane ChemPharma & Energy and Eaton She holds an Executive MBA from Northwestern University and a Master of Science in Mathematics from the Indian Institute of Technology.

AMETEK, a global provider of industrial technology solutions, aims for double-digit percentage growth in earnings per share and a superior return on total capital. The company reported approximately $7.0 billion in annual sales.

AMETEK (NYSE: AME) reported strong second quarter 2024 results, with sales reaching $1.73 billion, a 5% increase year-over-year. The company achieved record operating income of $447.5 million, up 7%, and improved operating margins to 25.8%. Adjusted earnings per share rose 6% to $1.66. AMETEK's Electronic Instruments Group (EIG) saw a 2% sales increase and significant margin expansion, while the Electromechanical Group (EMG) reported record sales, up 14%. However, due to ongoing inventory normalization and cautious customer spending, AMETEK has adjusted its 2024 outlook. The company now expects full-year sales growth of 5-7% and adjusted EPS in the range of $6.70 to $6.80, representing a 5-7% increase from 2023.