Electronic Instruments Maker AMETEK Buys Paragon Medical For $1.9B Cash; Raises FY23 EPS Outlook
Portfolio Pulse from Lekha Gupta
AMETEK Inc reported Q3 FY23 revenue growth of 5% Y/Y to $1.62 billion, missing the consensus of $1.66 billion. The company raised its FY23 EPS outlook to $6.31-$6.33 from $6.18-$6.26. AMETEK also acquired Amplifier Research Corp. for an undisclosed amount and Paragon Medical for about $1.9 billion.
October 31, 2023 | 3:32 pm
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AMETEK's Q3 revenue missed consensus, but the company raised its FY23 EPS outlook. It also made significant acquisitions, which could potentially boost future earnings.
Despite missing Q3 revenue consensus, AMETEK's raised EPS outlook and recent acquisitions indicate a positive future outlook. This could lead to increased investor confidence and a potential rise in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100