AMETEK (AME) to Report Q3 Earnings: What’s in the Offing?


AMETEK, Inc.


AME

is scheduled to report third-quarter 2020 results on Oct 29.

For the third quarter, the Zacks Consensus Estimate for sales is pegged at $1.09 billion, suggesting a decline of 14.6% from the year-ago reported figure.

Further, the Zacks Consensus Estimate for earnings stands at 95 cents per share, indicating a slump of 10.4% from the year-ago quarter.

The company beat estimates in each of the trailing four quarters, with the average being 8.2%.

Factors to Note

Despite coronavirus-induced disruptions and travel restrictions, AMETEK’s third-quarter results might reflect positive contributions from strategic acquisitions.

Acquisitions of Motec, Forza, Telular, Gatan, Intellipower and Spectro Scientific are likely to have driven the Electronic Instruments Group segment’s performance in the quarter to be reported. Further, strong materials analysis business may get reflected in the segment’s third-quarter sales.

Further, Electromechanical Group segment’s sales are likely to have gained from the Pacific Design Technologies and FMH Aerospace buyouts in the to-be-reported quarter.

Moreover, cost-mitigation strategies are anticipated to have aided operating performance of this particular segment in the quarter under review.

Further, the company’s proper execution of core growth strategies — including operational excellence, global market expansion, investment in product development and acquisitions — might have driven third-quarter performance.

Additionally, its focus on strong cash flow generation is anticipated to have aided capital deployment activities in the to-be-reported quarter.

Strengthening momentum across AMETEK Growth Model is also expected to get reflected in third-quarter results.

However, foreign currency headwinds and weak demand in a few end markets due to the COVID-19 outbreak may impact the upcoming results.

AMETEK, Inc. Price and EPS Surprise


AMETEK, Inc. Price and EPS Surprise


AMETEK, Inc. price-eps-surprise

|

AMETEK, Inc. Quote

What Our Model Says

Our proven model predicts an earnings beat for AMETEK this time around. The combination of a positive

Earnings ESP

and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our

Earnings ESP Filter

.

AMETEK has an Earnings ESP of +0.83% and a Zacks Rank #2.

Other Stocks to Consider

Here are some other stocks that you may also want to consider, as our proven model shows that these too have the right combination of elements to post an earnings beat in the to-be-reported quarter.


Alphabet


GOOGL

has an Earnings ESP of +7.40% and a Zacks Rank of 2.


TE Connectivity Ltd.


TEL

has an Earnings ESP of +5.40% and a Zacks Rank #2.


Netflix, Inc.


NFLX

has an Earnings ESP of +6.09% and holds a Zacks Rank of 3. You can see


the complete list of today’s Zacks #1 Rank stocks here


.

Just Released: Zacks’ 7 Best Stocks for Today

Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.5% per year.

These 7 were selected because of their superior potential for immediate breakout.



See these time-sensitive tickers now >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.

Click to get this free report


To read this article on Zacks.com click here.


Zacks Investment Research