AMETEK Q2 adjusted EPS $1.66 (+6% YoY); lowers FY2024 guidance citing inventory normalization

AMETEK INC/

2024-Q2 EPS reported $2.79 revenue$3,471,014,000

Q2 sales $1.73B (+5% YoY); GAAP EPS $1.45, adjusted EPS $1.66 (+6%).
Record operating income $447.5M, margins 25.8% (+40 bps); operating cash flow $381.4M (+14%).
EIG margins expanded 320 bps to 30.3%; EMG sales record $581.2M (+14%).
FY2024 adjusted EPS guidance lowered to $6.70-$6.80 (up 5-7% from 2023).
Q3 adjusted EPS guided $1.60-$1.62 (down 1-2% YoY) citing inventory normalization and project delays.

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