By Robb M. Stewart

Ametek expects to see continued sales growth this year after record revenue in the final quarter of 2024 drove slightly strong-than-expected earnings for the industrial-technology company.

Ametek, which Monday announced its second acquisition in the last three months, reported fourth-quarter net income of $387.3 million, or $1.67 a share, up from $342.9 million, or $1.48, a year earlier.

On an adjusted basis, per-share earnings came in at $1.87, ahead of the $1.85 mean estimate of analysts polled by FactSet and topping the company's prior guidance for up to $1.86.

Fourth-quarter sales rose 1.8% to a record $1.76 billion, whereas Ametek in late October said it anticipated mid-single-digit growth.

The company said sales in its electronic instruments division fell about 2% on a year earlier to $1.21 billion, but electromechanical segment sales jumped 11% to $546.7 million as it benefited from the acquisition of Paragon Medical and continued growth in its aerospace and defense businesses.

Ametek separately announced the acquisition of German machining and optical inspection solutions company Kern Microtechnik. That comes after it late last year bought Virtek Vision International, a Canadian provider of laser-based projection and inspection systems. Both companies bolster Ametek's electronic-instruments segment.

Chairman and Chief Executive David Zapico expects overall sales will roughly flat in the current quarter but adjusted earnings are forecast to rise 2% to 3% to between $1.67 and $1.69 a share. For 2025, he said the company is expected to see overall sales up low single digits on a percentage basis and adjusted per-share earnings are anticipated to rise by 3% to 5% to between $7.02 and $7.18.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

February 04, 2025 07:39 ET (12:39 GMT)

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