AMETEK Inc
0HF7.L
$185.68 -0.42%
Exchange: LSE | Sector: Industrials | Industry: Electrical Equipment Parts
Q2 2024
Published: Aug 1, 2024

Earnings Highlights

  • Revenue of $1.73B up 5.4% year-over-year
  • EPS of $1.45 increased by 3.6% from previous year
  • Gross margin of 36.0%
  • Net income of 337.68M
  • ""Our strong performance in the second quarter highlights our ability to navigate a challenging economic environment while delivering value to our shareholders."" - CEO Dave Zapico

AMETEK Inc (0HF7.L) QQ2 2024 Financial Results Report: Steady Growth Amid Challenging Conditions

Executive Summary

AMETEK Inc reported impressive second-quarter results for the fiscal year 2024, achieving a revenue of $1.73 billion, representing a year-over-year growth of 5.39%. The company demonstrated resilience in its operations with a net income of $337.68 million, up 4.15% from the previous year. Despite facing headwinds from macroeconomic factors, AMETEK’s operational efficiency, highlighted by a 6.86% increase in operating income, underscores robust demand across its core segments. Management remains optimistic about sustaining growth through strategic investments and innovation in their Electronic Instruments and Electromechanical segments. The company’s healthy gross profit margin of 36% and operating income margin of approximately 25.8% reflect strong cost management and a focus on high-value products. Going forward, AMETEK aims to leverage its technological advancements to capitalize on emerging market opportunities, particularly in the aerospace, oil and gas, and medical technology sectors.

Key Performance Indicators

Revenue

1.73B
QoQ: -0.08% | YoY:5.39%

Gross Profit

624.41M
35.99% margin
QoQ: 5.56% | YoY:5.31%

Operating Income

447.51M
QoQ: 7.26% | YoY:6.86%

Net Income

337.68M
QoQ: 8.60% | YoY:4.15%

EPS

1.46
QoQ: 8.15% | YoY:3.55%

Revenue Trend

Margin Analysis

Key Insights

  • **Revenue:** $1.73 billion, YoY growth of 5.39%; QoQ decline of 0.08%.
  • **Gross Profit:** $624.41 million, reflecting a 5.31% increase YoY and a significant increase of 5.56% QoQ.
  • **Operating Income:** $447.51 million with a 6.86% increase YoY and a notable 7.26% increase QoQ.
  • **Net Income:** $337.68 million, representing a 4.15% increase YoY and an 8.60% increase QoQ.
  • **Gross Profit Margin:** 36%.

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q2 2025 1,778.06 1.55 +2.5% View
Q1 2025 1,731.97 1.52 -0.2% View
Q4 2024 1,761.60 1.67 +1.8% View
Q3 2024 1,708.56 1.47 +5.3% View
Q2 2024 1,734.83 1.45 +5.4% View