AMETEK, inc (AME) Q2 2021 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
AMETEK Announces First Quarter Results and Raises 2021 Guidance
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BERWYN, Pa., May 4, 2021 /PRNewswire/ AMETEK, Inc. (NYSE: AME) today announced its financial results for the first quarter ended March 31, 2021.
AMETEK s first quarter 2021 sales were $1.22 billion, a 1% increase over the first quarter of 2020, with organic sales growth of 1%. Operating income increased 6% to $293.3 million, and operating margins were up 110 basis points to 24.1%, both versus the prior year s adjusted results.
On a GAAP basis, first quarter earnings per diluted share were $0.94. Adjusted earnings were $1.07 per diluted share, up 5% versus the prior year s adjusted results. Adjusted earnings adds back non-cash, after-tax, acquisition-related intangible amortization of $0.13 per diluted share. A reconciliation of reported GAAP results to adjusted results is included in the financial tables accompanying this release and on the AMETEK website.