$AME · AMETEK INC/
AMETEK reported Q3 FY2026 results with record sales of $2.22B (+17% YoY), GAAP EPS of $1.85, and adjusted EPS of $2.21 (+17% YoY). Both the Electronic Instruments Group ($1.44B, +16%) and Electromechanical Group ($778M, +20%) posted record sales. The company raised FY2026 adjusted EPS guidance to $8.53-$8.57 from $8.20-$8.30 and guided Q4 adjusted EPS of $2.26-$2.30.
- Q3 revenue of $2.22B, up 17% YoY from $1.89B
- Adjusted EPS of $2.21, up 17% YoY; GAAP EPS of $1.85
- Adjusted operating margin expanded 60 bps to 26.8%; core margin up 110 bps
- Free cash flow conversion hit 124% of net income; operating cash flow $560.6M, up 27%
- FY2026 adjusted EPS guidance raised to $8.53-$8.57 from prior $8.20-$8.30
Stock up 5.11% to $254.26 in regular trading, adding ~$2.8B in market cap on the $58.29B company. The guidance raise and broad-based beat across both segments are driving the positive reaction.
A double beat with a guidance raise from a $58B industrial bellwether — revenue, margins, and cash flow all hit records while FY guidance jumped ~3% above the prior midpoint.
AMETEK's 17% revenue growth and 110 bps core margin expansion stand out in the industrial technology sector, where many peers are reporting single-digit growth. The Indicor Instrumentation acquisition closed during the quarter and is already contributing.
Forward-looking risks include integration of the Indicor Instrumentation acquisition, supply chain disruptions, tariffs/trade disputes, and foreign currency fluctuations. Interest expense nearly doubled YoY to $39.8M from $22.5M, reflecting higher debt from acquisition financing.