AMETEK — Third Quarter 2026 Earnings Summary

Financial Performance:

• Third quarter 2026 sales reached a record $2.22 billion, a 17% increase year-over-year compared to $1.89 billion in Q3 2025.
• GAAP diluted earnings per share were a record $1.85, up from $1.60 in the prior year period.
• Adjusted diluted earnings per share were a record $2.21, representing a 17% increase from $1.89 in Q3 2025.
• GAAP operating income was a record $584.9 million, compared to $488.4 million in Q3 2025.
• Adjusted operating income increased 20% to a record $594.7 million, with operating margins of 26.8%, up 60 basis points from Q3 2025.
• Operating cash flow increased 27% to $560.6 million.
• Free cash flow to net income conversion was 124%.
• Net income for the nine months ended September 30, 2026, was $1.23 billion, up from $1.08 billion in the same period of 2025.
• Diluted earnings per share for the nine months ended September 30, 2026, were $5.36, compared to $4.67 in 2025.
• Cash and cash equivalents were $666.2 million as of September 30, 2026, compared to $458.0 million as of December 31, 2025.
• Long-term debt, net, was $6.03 billion as of September 30, 2026, compared to $1.07 billion as of December 31, 2025.

Guidance and Future Outlook:

• Full year 2026 overall sales are now expected to be up mid-teens percentage versus 2025.
• Full year 2026 adjusted earnings per diluted share are now expected to be in the range of $8.53 to $8.57, up approximately 15% from 2025 results, revised upward from the prior range of $8.20 to $8.30.
• Fourth quarter 2026 overall sales are expected to be up in the low 20% range versus the fourth quarter of 2025.
• Fourth quarter 2026 adjusted earnings per share are expected to be in the range of $2.26 to $2.30, up 12% to 14% compared to the fourth quarter of 2025.
• Full year 2026 GAAP diluted earnings per share are forecasted between $7.29 and $7.33.

Business Segments and Product Lines:

• Electronic Instruments Group (EIG) sales were a record $1.44 billion, a 16% increase over Q3 2025.
• EIG adjusted operating income increased 15% to a record $414.6 million.
• EIG core operating margin expanded by 60 basis points in the quarter.
• Electromechanical Group (EMG) sales were a record $778.0 million, up 20% from the prior year period.
• EMG adjusted operating income increased 29% to a record $212.0 million, with operating income margins of 27.2%.
• EMG core margin expanded by 210 basis points in the quarter.
• The company completed the acquisition of Indicor Instrumentation during the third quarter.

Market and Competitive Landscape:

• Businesses are positioned as mission-critical providers of highly engineered solutions aligned with key secular growth trends.
• Sales growth was broad-based across businesses, driven by strong organic sales growth and contributions from recent acquisitions.
• The company serves a diverse set of attractive niche markets.

Risks and Challenges:

• Forward-looking statements are subject to risks including the ability to consummate and integrate future acquisitions.
• Risks include international sales and operations, supply chain disruptions, tariffs, trade disputes, foreign currency fluctuations, and geopolitical developments.
• Other risks include the ability to develop new products, raw material price and availability, cybersecurity, regulatory compliance, and general economic conditions.

Management Commentary and Tone:

• Chairman and CEO David A. Zapico described the results as "outstanding," citing strong organic sales, order growth, acquisition contributions, and operating performance.
• Management highlighted 20% operating profit growth, 110 basis points of core margin expansion, and record free cash flow.
• The AMETEK Growth Model is credited for integrating operational excellence, technology innovation, global expansion, and strategic acquisitions with a focus on cash generation.

Other Key Points:

• The company completed the acquisition of Indicor Instrumentation, described as a group of highly differentiated industrial technology businesses.
• Dividends per share for the quarter were $0.34, compared to $0.31 in the prior year period.
• The company is a component of the S&P 500 and has been listed on the NYSE for over 95 years.
• An investor conference call was scheduled for November 3, 2026, at 8:30 AM ET.