(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | |||||||||
(Address of principal executive offices) | (Zip Code) |
Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||||||||||||
Exhibit No. | Description | |||||||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
AMETEK, Inc. | |||||||||||
November 1, 2022 | By: | /s/ THOMAS M. MONTGOMERY | |||||||||
Name: Thomas M. Montgomery | |||||||||||
Title: Senior Vice President – Comptroller |
Page | 1 |
Page | 2 |
Page | 3 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
Net sales | $ | 1,551,786 | $ | 1,440,681 | $ | 4,524,863 | $ | 4,042,769 | |||||||||||||||
Cost of sales | 1,004,596 | 949,402 | 2,941,604 | 2,651,506 | |||||||||||||||||||
Selling, general and administrative | 162,670 | 153,716 | 480,657 | 443,744 | |||||||||||||||||||
Total operating expenses | 1,167,266 | 1,103,118 | 3,422,261 | 3,095,250 | |||||||||||||||||||
Operating income | 384,520 | 337,563 | 1,102,602 | 947,519 | |||||||||||||||||||
Interest expense | (20,245) | (20,476) | (60,165) | (59,865) | |||||||||||||||||||
Other income (expense), net | 3,227 | 2,581 | 7,752 | (3,775) | |||||||||||||||||||
Income before income taxes | 367,502 | 319,668 | 1,050,189 | 883,879 | |||||||||||||||||||
Provision for income taxes | 69,861 | 62,208 | 197,728 | 175,507 | |||||||||||||||||||
Net income | $ | 297,641 | $ | 257,460 | $ | 852,461 | $ | 708,372 | |||||||||||||||
Diluted earnings per share | $ | 1.29 | $ | 1.10 | $ | 3.68 | $ | 3.04 | |||||||||||||||
Basic earnings per share | $ | 1.30 | $ | 1.11 | $ | 3.70 | $ | 3.07 | |||||||||||||||
Weighted average common shares outstanding: | |||||||||||||||||||||||
Diluted shares | 230,714 | 233,000 | 231,675 | 232,712 | |||||||||||||||||||
Basic shares | 229,500 | 231,171 | 230,360 | 230,811 | |||||||||||||||||||
Dividends per share | $ | 0.22 | $ | 0.20 | $ | 0.66 | $ | 0.60 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
Net sales: | |||||||||||||||||||||||
Electronic Instruments | $ | 1,054,124 | $ | 981,815 | $ | 3,070,131 | $ | 2,706,673 | |||||||||||||||
Electromechanical | 497,662 | 458,866 | 1,454,732 | 1,336,096 | |||||||||||||||||||
Consolidated net sales | $ | 1,551,786 | $ | 1,440,681 | $ | 4,524,863 | $ | 4,042,769 | |||||||||||||||
Operating income: | |||||||||||||||||||||||
Segment operating income: | |||||||||||||||||||||||
Electronic Instruments | $ | 272,714 | $ | 245,118 | $ | 782,603 | $ | 678,652 | |||||||||||||||
Electromechanical | 136,467 | 114,571 | 389,047 | 332,038 | |||||||||||||||||||
Total segment operating income | 409,181 | 359,689 | 1,171,650 | 1,010,690 | |||||||||||||||||||
Corporate administrative expenses | (24,661) | (22,126) | (69,048) | (63,171) | |||||||||||||||||||
Consolidated operating income | $ | 384,520 | $ | 337,563 | $ | 1,102,602 | $ | 947,519 |
Page | 4 |
September 30, | December 31, | ||||||||||
2022 | 2021 | ||||||||||
(Unaudited) | |||||||||||
ASSETS | |||||||||||
Current assets: | |||||||||||
Cash and cash equivalents | $ | 309,944 | $ | 346,772 | |||||||
Receivables, net | 876,460 | 829,213 | |||||||||
Inventories, net | 1,025,130 | 769,175 | |||||||||
Other current assets | 221,034 | 183,605 | |||||||||
Total current assets | 2,432,568 | 2,128,765 | |||||||||
Property, plant and equipment, net | 594,926 | 617,138 | |||||||||
Right of use asset, net | 161,217 | 169,924 | |||||||||
Goodwill | 5,190,196 | 5,238,726 | |||||||||
Other intangibles, investments and other assets | 3,660,025 | 3,743,634 | |||||||||
Total assets | $ | 12,038,932 | $ | 11,898,187 | |||||||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||||
Current liabilities: | |||||||||||
Short-term borrowings and current portion of long-term debt, net | $ | 272,027 | $ | 315,093 | |||||||
Accounts payable and accruals | 1,319,356 | 1,248,221 | |||||||||
Total current liabilities | 1,591,383 | 1,563,314 | |||||||||
Long-term debt, net | 2,085,364 | 2,229,148 | |||||||||
Deferred income taxes and other long-term liabilities | 1,229,513 | 1,233,841 | |||||||||
Stockholders' equity | 7,132,672 | 6,871,884 | |||||||||
Total liabilities and stockholders' equity | $ | 12,038,932 | $ | 11,898,187 |
Page | 5 |
AMETEK, Inc. | ||||||||||||||||||||
Reconciliations of GAAP to Non-GAAP Financial Measures | ||||||||||||||||||||
(Unaudited) |
Diluted Earnings Per Share | |||||||||||
Three Months Ended | |||||||||||
September 30, | |||||||||||
2022 | 2021 | ||||||||||
Diluted earnings per share (GAAP) | $ | 1.29 | $ | 1.10 | |||||||
Pretax amortization of acquisition-related intangible assets | 0.21 | 0.21 | |||||||||
Income tax benefit on amortization of acquisition-related intangible assets | (0.05) | (0.05) | |||||||||
Adjusted Diluted earnings per share (Non-GAAP) | $ | 1.45 | $ | 1.26 |
Forecasted Diluted Earnings Per Share | |||||||||||||||||||||||
Three Months Ended | Year Ended | ||||||||||||||||||||||
December 31, 2022 | December 31, 2022 | ||||||||||||||||||||||
Low | High | Low | High | ||||||||||||||||||||
Diluted earnings per share (GAAP) | $ | 1.29 | $ | 1.31 | $ | 4.97 | $ | 4.99 | |||||||||||||||
Pretax amortization of acquisition-related intangible assets | 0.21 | 0.21 | 0.84 | 0.84 | |||||||||||||||||||
Income tax benefit on amortization of acquisition-related intangible assets | (0.05) | (0.05) | (0.20) | (0.20) | |||||||||||||||||||
Adjusted Diluted earnings per share (Non-GAAP) | $ | 1.45 | $ | 1.47 | $ | 5.61 | $ | 5.63 |
Page | 6 |
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