Nov. 13, 2014, 11:08 AM
- In an article embargoed until 9:30AM ET Friday, Ben Axler argues that Ametek's (AME -3%) ability to beat earnings estimates 95% of the time in over a decade raises alarms and that its EBITDA margins appear to be 400-600 bps overstated.
- Axler also points to revenue/inventory accounting concerns and Ametek's irrational premium compared to the sum of its acquired businesses, many of which have no growth and declining margins.
Nov. 13, 2014, 9:10 AM
Sep. 11, 2013, 6:02 PM
- Vertex (VRTX) +3.4% AH and Ametek (AME) +1.2%. AMD -0.5% AH and SAIC (SAI) -0.1% (those declines might get bigger before the dust settles). AMD and SAIC are joining the S&P MidCap 400, and Vertex and Ametek are leaving it. The changes will take place after the Sep. 20 close. (PR)
- Also: Capstead Mortgage (CMO) is replacing Rue 21 (RUE) in the S&P SmallCap 600 following the Sep. 19 close. CMO +2.9% AH.
Aug. 7, 2013, 1:08 PM
- Ametek (AME -1.8%) slides after reporting Q2 earnings that were largely in-line but missed on revenue.
- Sales were up 6% year over year.
- Operating income +10% over the same period; net income +12%.
- Electronic Instruments Group sales increased 7% to $483.3M.
- Electromechanical Group sales increased 6% to $395.5M, up on strong growth in its Floorcare and Specialty Motors business, along with the contributions from its Dunkermotoren acquisition.
- The company guides FY13 earnings to the low-end of estimates, now looking for an EPS of $2.08 - $2.12 versus Street estimates of $2.12.
- Acquires Controls Southeast, a manufacturer of custom-engineered thermal solutions with annual sales of approximately $50M, from Industrial Growth Partners for approximately $160M.
Jul. 24, 2012, 3:00 PMShares of Ametek (AME -7.8%) slip after its Q2 fell short of Street projections this morning, despite a 21% Y/Y jump in net profit. Sales at the company's electronic instruments group rose 11%, while electromechanical group sales grew 6%, but it wasn't enough to meet revenue expectations. The company also boosted Q3 and FY12 revenue estimates, but both numbers still came in at the low end of expectations. | Comment!
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