Ametek (NYSE:AME) reported its Q1 earnings results yesterday, with EPS of $1.49 coming in better than the Street estimate of $1.41. Revenue was $1.6 billion, beating the Street estimate of $1.54B. Incrementals were solid at 38% and free cash flow conversion was an impressive 120%.
The company also announced a bolt-on acquisition of Bison Gear for about $100 million. A niche manufacturer of precision linear motion control, Bison bolsters Ametek’s automation offerings.
For the full 2023 year, the company expects EPS to be in the range of $5.96-$6.10, compared to the Street estimate of $5.99.