Ametek Non-GAAP EPS of $1.49 beats by $0.08, revenue of $1.59B beats by $50M

• Ametek press release (NYSE:AME): Q1 Non-GAAP EPS of $1.49 beats by $0.08.
• Revenue of $1.59B (+8.9% Y/Y) beats by $50M.
• AMETEK's first quarter 2023 sales were $1.60 billion, a 10% increase over the first quarter of 2022, with organic sales growth of 9%.
• For 2023, we now expect overall sales to be up mid to high single digits compared to 2022. Adjusted diluted earnings per share are now expected to be in the range of $5.96 to $6.10 vs. $6.01 consensus, an increase of 5% to 7% over the comparable basis for 2022.
• Expect overall sales in the second quarter to be up mid to high single digits on a percentage basis versus the prior year. Second quarter adjusted earnings per diluted share are anticipated to be in the range of $1.49 to $1.51 vs. $1.46 consensus, up 8% to 9% compared to the second quarter of 2022