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Ametek Sees Q1 Adj. EPS Within Original Guidance; Withdraws 2020 Outlook

Ametek Inc. (AME) said that it expects adjusted earnings per share for the first quarter to be within its original guidance range on higher margins. But, it expects quarterly sales will be down about 6.5%.

The expected adjusted earnings for the quarter exclude an approximate $140 million pre-tax gain from the sale of Reading Alloys and an approximate $45 million pre-tax restructuring charge to realign our cost structure.

The company has withdrawn its full-year 2020 financial guidance citing the ongoing uncertainty cuase by the Covid-19 pandemic.

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