Ametek (NYSE:AME), a leading manufacturer of electronic instruments and electromechanical devices, reported stronger-than-expected third-quarter earnings on Thursday.
The company announced a net income of $340.2 million, or $1.47 per share, with adjusted earnings reaching $1.66 per share after accounting for amortization costs.
These results exceeded Wall Street expectations, as analysts surveyed by Zacks Investment Research had projected earnings of $1.62 per share.
In addition to impressive earnings, Ametek posted quarterly revenue of $1.71 billion, surpassing analysts' forecasts of $1.69 billion.
The robust performance underscores the company’s steady growth in a competitive market.
Looking ahead, Ametek provided optimistic guidance for the fourth quarter ending in December, with anticipated earnings per share (EPS) expected to range between $1.81 and $1.86.
For the full year, Ametek raised its earnings outlook to a range of $6.77 to $6.82 per share.