Analyst Consensus ?
ConsensusBuy29 ratings
Bullish1965.5%
Neutral1034.5%
Bearish00.0%
AMETEK, Inc. · AME · FY2023 Q4 · Calendar Q1 2024
AMETEK: Record Q4, steady guidance, inventory risks remain
AMETEK's record sales, expanding backlog, pricing above inflation, and continued investment support a constructive growth outlook, but the near-term case depends on inventory normalization and acquisition integration.
Reported Before market openNYSEIndustrials
$56.90B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.68
Consensus $1.63
EPS surprise
+3.1%
Reported versus consensus
Reported revenue
$1.73B
Consensus $1.73B
Revenue surprise
-0.2%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-0.5%
Event window
SPY move
+0.3%
Same window
Abnormal move
-0.8%
Stock minus SPY
Volume
1.7×
Versus trailing sessions
Subsequent drift
+8.6%
Up to 20 sessions
AMESPY benchmark
Ask FN2 about AME FY2023 Q4
Transcript, numbers and history already loaded
Why did AME fall 0.5% after beating EPS estimates in FY2023 Q4?What changed in AME's guidance and outlook in FY2023 Q4?Give me the bull and bear case for AME after FY2023 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, the company reported record Q4 sales and a 10% year-over-year increase in backlog, while shifting the near-term focus toward OEM inventory normalization, acquisition integration, and incremental R&D investment.
Guidance delta
Guidance sentiment was maintained. Management projected 2024 EPS of $6.00-$6.85 and targeted a 5-7% increase in diluted EPS.
Key takeaways
- Record fourth-quarter sales of $1.73 billion, with operating margins of 25.7%.
- Backlog reached a record $3.53 billion, up 10% year over year.
- Management paired continued acquisition activity with another $100 million of incremental R&D and engineering spending.
- OEM inventory normalization is expected to weigh on the first half of 2024 before improving in the second half.
Management priorities
- Deploy another $100 million in incremental R&D and engineering spending in 2024.
- Continue an active M&A program with a $2 billion-plus acquisition pipeline.
- Expand capacity in Mexico, Malaysia and Serbia.
- Pursue renewable-energy and power-grid modernization opportunities.
Follow AME with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$248.17Current
$135Low
$243.78Average
$316High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 18, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Citigroup | Neutral | Neutral | Maintain | Oct 12, 2026 |
| Baird | Neutral | Neutral | Maintain | Oct 5, 2026 |
| BNP Paribas | Outperform | Outperform | Maintain | Sep 11, 2026 |
| Truist Securities | Buy | Buy | Maintain | Aug 6, 2026 |
| TD Cowen | Buy | Buy | Maintain | Aug 6, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Aug 5, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Aug 5, 2026 |
| DA Davidson | Buy | Buy | Maintain | Aug 5, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Aug 5, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jul 10, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | May 4, 2026 |
| Oppenheimer | Perform | Outperform | Downgrade | Jan 27, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Jan 5, 2026 |
| B of A Securities | Buy | Neutral | Upgrade | Dec 16, 2024 |
| Wells Fargo | Overweight | Overweight | Maintain | Aug 2, 2023 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | Feb 23, 2023 |
| Loop Capital | Buy | Buy | Maintain | Jul 19, 2022 |
| Rosenblatt | Buy | Buy | Maintain | Aug 4, 2021 |
| Cowen & Co. | Outperform | Market Perform | Upgrade | Mar 12, 2020 |
| Stephens & Co. | Overweight | Overweight | Maintain | Feb 7, 2020 |
| Bank of America | Neutral | Buy | Downgrade | Oct 11, 2019 |
| Jefferies | Buy | Buy | Maintain | Oct 13, 2017 |
| Atlantic Equities | Overweight | Neutral | Upgrade | Feb 15, 2017 |
| Stifel Nicolaus | Buy | Buy | Maintain | Aug 5, 2016 |
| Stifel | Buy | Buy | Maintain | Aug 5, 2016 |
| Deutsche Bank | Hold | Hold | Maintain | Jan 7, 2013 |
| UBS | Neutral | Neutral | Maintain | Oct 31, 2012 |
| Ladenburg Thalmann | Buy | Hold | Upgrade | Jul 24, 2012 |
| Langenberg & Company | Hold | Buy | Downgrade | Apr 27, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $248.17. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Christopher Snyder | $275 | $248.82 | +10.8% | Oct 9, 2026 |
| D.A. Davidson | Matt Summerville | $285 | $247.9 | +14.8% | Oct 7, 2026 |
| Vertical Research | Analyst unavailable | $255 | $237.72 | +2.8% | Sep 8, 2026 |
| Truist Financial | Analyst unavailable | $316 | $255.23 | +27.3% | Aug 6, 2026 |
| Seaport Global | Scott Graham | $290 | $255.81 | +16.9% | Aug 5, 2026 |
| RBC Capital | Deane Dray | $291 | $254.5 | +17.3% | Aug 5, 2026 |
| Robert W. Baird | Quinn Fredrickson | $275 | $254.05 | +10.8% | Aug 5, 2026 |
| KeyBanc | Analyst unavailable | $295 | $254.05 | +18.9% | Aug 5, 2026 |
| Morgan Stanley | Analyst unavailable | $245 | $234.99 | -1.3% | Jul 10, 2026 |
| Truist Financial | Jamie Cook | $303 | $237.13 | +22.1% | Jul 2, 2026 |
| Redburn Partners | Richard Radbourne | $265 | $231.27 | +6.8% | Jun 18, 2026 |
| Truist Financial | Analyst unavailable | $275 | $231.3 | +10.8% | May 4, 2026 |
| Barclays | Julian Mitchell | $230 | $230.48 | -7.3% | May 4, 2026 |
| Robert W. Baird | Quinn Fredrickson | $244 | $231.98 | -1.7% | May 1, 2026 |
| Mizuho Securities | Analyst unavailable | $270 | $232.62 | +8.8% | May 1, 2026 |
| BMO Capital | Daniel DiCicco | $253 | $211.47 | +1.9% | Mar 26, 2026 |
| Robert W. Baird | Analyst unavailable | $245 | $227.83 | -1.3% | Feb 5, 2026 |
| Truist Financial | Analyst unavailable | $265 | $229.46 | +6.8% | Feb 4, 2026 |
| RBC Capital | Analyst unavailable | $257 | $227.97 | +3.6% | Feb 4, 2026 |
| Mizuho Securities | Analyst unavailable | $235 | $228.92 | -5.3% | Feb 4, 2026 |
| Barclays | Julian Mitchell | $220 | $228.92 | -11.4% | Feb 4, 2026 |
| Deutsche Bank | Analyst unavailable | $271 | $213.14 | +9.2% | Jan 21, 2026 |
| Morgan Stanley | Christopher Snyder | $215 | $211.1 | -13.4% | Jan 12, 2026 |
| Barclays | Julian Mitchell | $210 | $214.16 | -15.4% | Jan 7, 2026 |
| KeyBanc | Analyst unavailable | $235 | $211.31 | -5.3% | Jan 6, 2026 |
| Melius Research | Rob Wertheimer | $235 | $212.09 | -5.3% | Jan 5, 2026 |
| Mizuho Securities | Analyst unavailable | $230 | $209.14 | -7.3% | Jan 5, 2026 |
| D.A. Davidson | Analyst unavailable | $240 | $199.92 | -3.3% | Dec 8, 2025 |
| Robert W. Baird | Richard Eastman | $204 | $202.11 | -17.8% | Nov 3, 2025 |
| Seaport Global | Analyst unavailable | $240 | $199.96 | -3.3% | Oct 31, 2025 |
| RBC Capital | Deane Dray | $229 | $198.84 | -7.7% | Oct 31, 2025 |
| KeyBanc | Analyst unavailable | $220 | $198.32 | -11.4% | Oct 31, 2025 |
| Barclays | Analyst unavailable | $205 | $198.32 | -17.4% | Oct 31, 2025 |
| Truist Financial | Jamie Cook | $229 | $181.42 | -7.7% | Oct 8, 2025 |
| Mizuho Securities | Brett Linzey | $212 | $182.75 | -14.6% | May 16, 2025 |
| Truist Financial | Jamie Cook | $219 | $166.92 | -11.8% | Oct 9, 2024 |
| Oppenheimer | Christopher Glynn | $190 | $163.9 | -23.4% | Sep 10, 2024 |
| Seaport Global | Scott Graham | $200 | $154 | -19.4% | Aug 2, 2024 |
| Truist Financial | Jamie Cook | $204 | $165.57 | -17.8% | Jul 2, 2024 |
| Oppenheimer | Christopher Glynn | $200 | $169.13 | -19.4% | May 22, 2024 |
| Seaport Global | Scott Graham | $208 | $168.06 | -16.2% | May 6, 2024 |
| Robert W. Baird | Richard Eastman | $171 | $166.56 | -31.1% | May 6, 2024 |
| RBC Capital | Deane Dray | $216 | $179.34 | -13.0% | Apr 4, 2024 |
| Truist Financial | Jamie Cook | $210 | $181.53 | -15.4% | Mar 13, 2024 |
| Morgan Stanley | Analyst unavailable | $152 | $142.36 | -38.8% | Jan 6, 2023 |
| Mizuho Securities | Brett Linzey | $140 | $129.31 | -43.6% | Aug 15, 2022 |
| Morgan Stanley | Analyst unavailable | $145 | $126.04 | -41.6% | Aug 3, 2022 |
| RBC Capital | Analyst unavailable | $135 | $125.85 | -45.6% | Aug 3, 2022 |
| Loop Capital Markets | Analyst unavailable | $155 | $109.1 | -37.5% | Jul 19, 2022 |
| Mizuho Securities | Analyst unavailable | $135 | $110.92 | -45.6% | Jul 18, 2022 |
| Morgan Stanley | Joshua Pokrzywinski | $135 | $121.86 | -45.6% | Jun 3, 2022 |
| Morgan Stanley | Analyst unavailable | $144 | $124.06 | -42.0% | May 4, 2022 |
| RBC Capital | Analyst unavailable | $148 | $124.31 | -40.4% | May 4, 2022 |
| KeyBanc | Steve Barger | $145 | $124.31 | -41.6% | May 4, 2022 |
| D.A. Davidson | Matt Summerville | $160 | $138.12 | -35.5% | Aug 3, 2021 |
Track every rating change on AME the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationAMETEK, Inc. is a global enterprise that develops and markets a diverse portfolio of electronic instruments and electromechanical devices. The company's operations are structured into two principal divisions: the Electronic Instruments Group (EIG) and the Electromechanical Group (EMG). The EIG segment provides sophisticated instrumentation solutions catering to various sectors, including process control, aerospace, power generation, and general industrial applications. It also delivers specialized process and analytical tools essential for industries such as oil and gas, petrochemicals, pharmaceuticals, semiconductors, automation, and food and beverage production. Furthermore, EIG supplies equipment for laboratory settings, ultra-precision manufacturing, medical diagnostics, and critical test and measurement tasks.…
Historical context
All AME earningsIndustrials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| JBHT J.B. Hunt Transport Services, Inc. | FY2026 Q3 · Calendar Q4 2026 | +0.6% | -2.0% | J.B. Hunt: Strong demand, but margin repair remains central |
| FAST Fastenal Company | FY2026 Q3 · Calendar Q4 2026 | +3.3% | +1.1% | Fastenal Q3: Share Gains and Digital Adoption Lift Growth |
Latest beats and misses
Who reports nextBeat on EPS
Get the AME recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-11-11T06:39:45.180704+00:00
- Polygon adjusted daily market bars · 2026-10-18T09:20:43.121932+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-18T09:20:43.119135+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-18. For educational purposes only; not investment advice.