AMETEK, Inc.

Q2 FY26Electrical Equipment

AMETEK, Inc. Q2 FY26 Results — Earnings Call Analysis

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹225

Market cap₹51.7K Cr

P/E34.6

Published29 May 2026

What the Q2 FY26 call signalled

3 of 4 strong

RevenueRank 3

MarginRank 2

CapexYes

Order bookYes

Not discussed on this call: fundraise.

The short version

- Full year 2026 organic sales expected to increase mid-single digits, up from prior low single digits guidance. - Full-year 2026 diluted earnings per share (EPS) guidance raised to $7.94 to $8.14, up 7% to 10% over 2025.

From AMETEK, Inc.'s Q2 FY26 earnings-call transcript · updated 29 May 2026.

Revenue & Sales Performance

Rank 3

Full year 2026 organic sales expected to increase mid-single digits, up from prior low single digits guidance.
Aerospace & Defense (A&D) segment sales growth increased to approximately 10% from prior high single digits.
Process segment organic sales expected to grow low to mid-single digits, upgraded from prior low single digits.
Power subsegment organic sales expected to grow mid-single digits for the year.
Automation & Engineered Solutions segment projected to grow mid-single digits organically.
Strong order growth continues, including large orders in defense, semiconductor, space, and power markets supporting sales outlook.
Company anticipates 35% incremental margins and core margins up ~50 basis points for 2026; guide is prudent given macro uncertainty.
Despite geopolitical uncertainty, order momentum and broad-based growth across markets signal confident sustained sales increases throughout 2026.

Profitability & Margins

Full-year 2026 diluted earnings per share (EPS) guidance raised to $7.94 to $8.14, up 7% to 10% over 2025.
Second-quarter 2026 adjusted earnings expected at $1.96 to $2.00 per share, up 10% to 12% year-over-year.
Guide increase reflects strong Q1 results, solid order momentum, but remains conservative due to geopolitical and inflation uncertainties.
Operating income in Q1 was $517 million, a 14% increase from prior year, with operating margin at 26.8%.
Core margins expanded by 160 basis points year-over-year in Q1; expected to increase around 50 basis points for full year.
Incremental margins on incremental sales expected at 35% for the year, with core incrementals above 50% in Q1.
The company remains focused on prudent execution and ability to navigate changing market conditions.

See what AMETEK, Inc. said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Yes

For 2026, AMETEK plans to invest an incremental $100 million to support growth initiatives.
The majority of this investment will go into Research, Development & Engineering (RD&E) and sales and marketing initiatives.
These investments are expected to deliver excellent returns, evidenced by a vitality index of 25%, measuring sales of new products introduced over the last 3 years.
The company remains active in acquisitions as its top priority for capital deployment, managing a strong pipeline of acquisition opportunities across various deal sizes and markets.
AMETEK has signed a definitive agreement to acquire First Aviation Services, a defense and aviation MRO services provider with approximately $80 million in annual sales, expanding its military aftermarket business.
The company maintains significant financial capacity, poised to deploy over $5 billion in capital while preserving an investment-grade credit rating.

Fundraising & Capital Structure

AMETEK currently has significant financial capacity, with the ability to deploy well over $5 billion in capital while maintaining an investment-grade credit rating.
As of March 31, total debt was $2.2 billion, slightly down from $2.3 billion at the end of 2025, and cash and cash equivalents were $481 million.
Gross debt-to-EBITDA ratio was 0.9x; net debt-to-EBITDA ratio was 0.7x, indicating strong balance sheet flexibility.
There is no explicit mention of new fundraising through debt or equity in the provided text.
Capital deployment priorities focus on acquisitions, share buybacks, dividends, and investments in growth initiatives, supported by strong cash flow and disciplined capital management.
The company has not announced plans for issuing new debt or equity in the near term.

See what AMETEK, Inc. said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

Yes

AMETEK reported broad-based strong order growth with 22% organic orders increase in Q1.
Orders were bolstered by several large orders in defense, space, power, and semiconductor markets.
EIG segment's organic orders grew 25%, broad-based across all divisions including defense and semiconductor.
EMG's organic orders increased 16% with strong demand in automation, aerospace, and engineered solutions.
Strong pipeline of opportunities translating into substantial orders growth, notably in process instrumentation and power businesses.
Orders included large defense-related programs such as UAVs, missile defense, naval applications, and nuclear platforms.
Semiconductor capital equipment market contributed sizable orders through Abaco's computing solutions.
Entering the year with a strong start and robust backlog, though guidance remains conservative considering geopolitical uncertainties.
Management confident in continued order strength and pipeline, expecting further large orders and consistent bookings throughout the year.

How does AMETEK, Inc. rank vs peers in Electrical Equipment?

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ThisAMETEK, Inc.

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Frequently Asked Questions

What were AMETEK, Inc. Q2 FY26 results?

What is AMETEK, Inc. share price analysis?

AMETEK, Inc. currently shows a below-average growth signal. The stock trades at a P/E of 34.6 with a market cap of $51,674. Investors should review the full earnings analysis for detailed insights.

Is AMETEK, Inc. planning capital expenditure?

- For 2026, AMETEK plans to invest an incremental $100 million to support growth initiatives.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.