AMETEK, Inc. (AME) said, for 2023, the company now expects adjusted earnings per share to be in the range of $6.31 to $6.33, an increase of approximately 11% over the comparable basis for 2022. This is an increase from previous guidance range of $6.18 to $6.26 per share. The company continues to expect overall sales to be up mid-to-high single digits compared to 2022.
AMETEK expects fourth quarter adjusted earnings per share to be in the range of $1.61 to $1.63, up 6% to 7% compared to the fourth quarter of 2022. Overall sales are projected to be up mid-single digits on a percentage basis versus the prior year.
Third quarter earnings totaled $340.37 million, or $1.47 per share compared with $297.64 million, or $1.29 per share, prior year. Adjusted earnings were $1.64 per share, up 13% from the third quarter of 2022. Analysts on average had expected the company to earn $1.58 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. Third quarter sales were $1.62 billion, a 5% increase over the third quarter of 2022. Analysts on average had estimated $1.66 billion in revenue.
Separately, AMETEK announced that it has entered into a definitive agreement to acquire Paragon Medical, a provider of highly engineered medical components and instruments, from affiliates of American Securities LLC in an all-cash deal valued at approximately $1.9 billion.
AMETEK, Inc. also announced the acquisition of Amplifier Research Corp., a manufacturer of radio frequency and microwave amplifiers and electromagnetic compatibility testing equipment.
Shares of AMETEK are up 2% in pre-market trade on Tuesday.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.