$AME · AMETEK INC/
AMETEK filed its Q3 FY2026 10-Q, reporting record net sales of $2.22B (+17.3% YoY), record orders of $2.65B (+34.7% YoY), and record backlog of $4.54B. Diluted EPS rose to $1.85 from $1.60. The quarter included $27.8M in pre-tax acquisition-related costs tied to the Indicor acquisition. Operating margin expanded to 26.3%.
- Q3 net sales hit a record $2.22B, up 17.3% YoY, with 10% organic growth and 7% from acquisitions.
- Q3 diluted EPS of $1.85 vs. $1.60 a year ago, a 15.6% increase.
- Record Q3 orders of $2.65B surged 34.7% YoY — 17% organic, 18% from acquisitions.
- Backlog reached a record $4.54B at quarter-end, up 26.8% from $3.58B at December 31, 2025.
- Q3 operating income rose 19.8% to $584.9M; operating margin expanded to 26.3% from 25.8%.
AME is up 3.59% in the regular session to $250.59, adding roughly $2B in market cap. The record orders and backlog, combined with margin expansion, are being rewarded as the Indicor acquisition integration progresses ahead of expectations.
AMETEK's 34.7% order surge and 26.8% backlog jump signal accelerating demand well beyond typical industrial GDP-linked growth, making the Indicor acquisition look well-timed.
AMETEK's 10% organic growth and 34.7% order surge stand out in the multi-industrial sector, where peers are reporting low-single-digit organic growth. The Indicor acquisition is proving immediately accretive to both top-line and backlog.
Interest expense nearly doubled YoY to $39.8M in Q3 (from $22.5M) as long-term debt ballooned to $6.03B from $1.07B at year-end 2025 to fund the Indicor acquisition. $27.8M in pre-tax acquisition-related costs ($9.8M integration, $18.1M transaction) weighed on Q3 results.