Q2 2026 AMETEK Inc Earnings Call Transcript
Key Points
- Record Q2 sales of $2.04 billion, up 15% year-over-year, with double-digit organic growth of 10%.
- Exceptional orders growth of 28% overall and 25% organically, leading to a record backlog of $4.11 billion.
- Strong core margin expansion of 110 basis points to 27.1%, driven by productivity gains and positive price/cost.
- Outstanding free cash flow generation of $452 million, up 37%, with a conversion rate of 111%.
- Raised full-year 2026 sales and EPS guidance, reflecting strong first-half performance and positive outlook.
- Organic sales growth in the Electronic Instruments Group (EIG) was only 7%, below the company average, due to acquisition-driven growth.
- The company faces potential integration risks and costs associated with the pending $5 billion acquisition of Indicor Instrumentation.
- Higher acquisition diligence costs increased other operating expenses to $6 million in the quarter.
- The company's guidance for the second half of 2026 implies a slowdown in organic sales growth to mid-to-high single digits, which may be conservative.
- Geopolitical uncertainties and volatile energy prices could impact demand in certain end markets, despite current strength.
Good day, and thank you for standing by.
Welcome to the Q2 2026 Ametek earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question.
During the session, you will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference call is being recorded. I would now like to hand the conference over to your first speaker today, Kevin Coleman, Vice President, Investor Relations and Treasurer. Please go ahead.
Thank you, Stephanie. Good morning, and welcome to Ametek's second-quarter 2026 earnings conference call.
Joining me today are Dave Sopico, Chairman and Chief Executive Officer and Dolla Puri, Executive Vice President and Chief Financial Officer.
During the course of today's call, we will
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