AMETEK said net sales for Q1 2024 rose to $1,736.2 million, up 8.7% from $1,597.1 million a year earlier, and net income was $310.9 million, or $1.34 per diluted share.

1. 01

   AMETEK said net sales for Q1 2024 rose to $1,736.2 million, up 8.7% from $1,597.1 million a year earlier, and net income was $310.9 million, or $1.34 per diluted share.

2. 02

   The company said it recorded pre-tax integration costs of $29.2 million related to the Paragon acquisition in Q1 2024, of which $22.4 million was employee severance, and that its consolidated operating margin was 24.0%, compared with 25.4% a year earlier.

3. 03

   AMETEK said orders for Q1 2024 fell 8.2% to $1,662.7 million. The company cited a 10% decline in organic orders and a 2% unfavorable effect of foreign currency translation as factors. Backlog of unfilled orders was $3,460.7 million as of March 31, 2024.

4. 04

   AMETEK said cash provided by operating activities totaled $410.2 million and free cash flow was $382.6 million for the first 3 months of 2024. Total debt, net was $2,933.2 million as of March 31, 2024, compared with $3,313.3 million as of December 31, 2023.

Key figures

Quarter ended March 31, 2024

Revenue

$1.7B

Operating income

$417M

Net income

$311M

EPS

$1.34

Operating cash flow

$410M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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