Financial Data and Key Metrics Changes - AMETEK reported record sales of $2 billion in Q4 2025, a 13% increase from Q4 2024, with organic sales up 5% and acquisitions contributing 7% [4][5] - Operating income reached a record $523 million, up 12% year-over-year, with operating margins at 26.2% and core margins at 27.6%, an increase of 100 basis points [5][10] - Diluted earnings per share were a record $2.01, up 7% from the previous year, exceeding guidance [6][10] - Free cash flow was a record $527 million, up 6% year-over-year, with a conversion rate of 132% [6][22] Business Line Data and Key Metrics Changes - The Electronic Instruments Group (EIG) achieved sales of $1.37 billion, a 13% increase, with organic sales up 2% and acquisitions contributing 10 points [7] - The Electromechanical Group (EMG) reported sales of $629 million, up 15%, with organic sales up 14% and operating income increasing by 28% [9][10] Market Data and Key Metrics Changes - Overall orders increased by 18% to a record $2 billion, with organic orders up 7%, leading to a backlog of $3.58 billion [5][10] - U.S. and international sales were up mid-single digits, with Asia up 10%, driven by strong performance in China [41][42] Company Strategy and Development Direction - AMETEK announced the acquisition of LKC Technologies to enhance its med tech exposure, indicating a focus on strategic acquisitions to drive growth [4][12] - The company plans to invest an incremental $100 million in growth initiatives in 2026, building on a $90 million investment in 2025 [13] - AMETEK aims to maintain a disciplined approach to capital deployment, prioritizing acquisitions while also considering share repurchases and dividends [12][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate economic uncertainties and maintain strong performance, with expectations for mid- to high-single-digit sales growth in 2026 [17][18] - The company anticipates organic sales growth of low- to mid-single digits, with diluted earnings per share expected to rise 6%-9% [17][18] Other Important Information - AMETEK's effective tax rate for Q4 was 16.3%, with expectations for 2026 between 18.5% and 19.5% [20] - The company reported total debt of $2.3 billion, with cash and cash equivalents of $458 million, indicating a strong financial position [22][23] Q&A Session Summary Question: Can you provide insights into the medical portfolio performance? - Management noted that the broader healthcare exposure accounts for 21% of the business, with Paragon and Rauland showing low double-digit growth in Q4 and expected mid-single-digit growth in 2026 [25][26] Question: What is the outlook for strategic pricing going forward? - Management indicated a positive price-cost spread in Q4, with confidence in offsetting inflation and tariffs in 2026, supported by a differentiated product portfolio [27][28] Question: Can you discuss the performance of the process businesses? - The process businesses saw mid-teens growth in Q4, driven by recent acquisitions, with expectations for low single-digit organic growth in 2026 [35][36] Question: What is the status of the FARO acquisition? - Management expressed optimism about the FARO acquisition, highlighting synergies and the potential to improve EBITDA margins significantly over time [66][67] Question: How is the M&A pipeline looking for 2026? - Management reported a strong pipeline of high-quality acquisition candidates, with the capacity to deploy over $5 billion while maintaining an investment-grade credit rating [81][82]

Core Insights - Ametek reported quarterly earnings of $2.01 per share, exceeding the Zacks Consensus Estimate of $1.94 per share, and up from $1.87 per share a year ago [1] - The company achieved a revenue of $2 billion for the quarter, surpassing the Zacks Consensus Estimate by 2.67%, compared to $1.76 billion in the same quarter last year [3] Earnings Performance - The earnings surprise for the quarter was +3.65%, and Ametek has surpassed consensus EPS estimates in all four of the last quarters [2] - The company had a favorable trend in estimate revisions leading up to the earnings release, resulting in a Zacks Rank 2 (Buy) for the stock [7] Future Outlook - Current consensus EPS estimate for the upcoming quarter is $1.89 on revenues of $1.9 billion, and for the current fiscal year, it is $7.98 on revenues of $7.92 billion [8] - The outlook for the Electronics - Testing Equipment industry is strong, with the industry currently in the top 25% of Zacks industries, indicating potential for Ametek's stock to outperform the market [9]

Core Insights - AMETEK, Inc. has announced the acquisition of LKC Technologies, enhancing its capabilities in ophthalmic diagnostics and management [1][2] - The acquisition aligns with AMETEK's strategy to expand its Ultra Precision Technologies Reichert business and broaden its ophthalmic product portfolio [2] - LKC Technologies specializes in portable devices for testing and monitoring eye health, particularly in detecting early signs of diabetic retinopathy [1] Company Overview - AMETEK is a global provider of industrial technology solutions with annual sales of approximately $7.5 billion [3] - The company employs a growth model that focuses on operational excellence, technology innovation, global market expansion, and strategic acquisitions [3] - AMETEK aims for double-digit percentage growth in earnings per share over the business cycle and seeks superior returns on total capital [3]

Group 1 - Giverny Capital Asset Management reported a portfolio return of 0.01% for Q4 2025, underperforming the S&P 500 which returned 2.66% [1] - Year-to-date, the fund achieved a return of 12.58%, compared to 17.88% for the S&P 500 [1] - The portfolio's underweight in large technology companies and overweight in smaller niche leaders negatively impacted performance, despite strong earnings growth and capital returns from portfolio companies [1] Group 2 - AMETEK, Inc. (NYSE:AME) stock closed at $223.98 per share on January 30, 2026, with a one-month return of 6.00% and a twelve-month gain of 21.64% [2] - AMETEK, Inc. has a market capitalization of $51.56 billion [2] - Giverny Capital Asset Management trimmed its position in AMETEK, citing valuation concerns, as the stock became expensive relative to its growth rate [3] Group 3 - AMETEK, Inc. was held by 58 hedge fund portfolios at the end of Q3 2025, an increase from 53 in the previous quarter [3] - While AMETEK is recognized for its potential, the company is not among the 30 most popular stocks among hedge funds [3] - The firm believes certain AI stocks present greater upside potential and less downside risk compared to AMETEK [3]

FEBRUARY 2026 INVESTOR PRESENTATION CAUTIONARY STATEMENTS Statements in this presentation that are not historical in nature are considered "forward-looking statements" and are subject to change based on various risk factors and uncertainties that may cause actual results to differ significantly from expectations. Those factors are contained in AMETEK's Securities and Exchange Commission filings. AMETEK disclaims any intention or obligation to update or revise any forward-looking statements. In this presenta ...

Core Insights - Ametek (AME) is expected to report quarterly earnings of $1.94 per share, reflecting a 3.7% increase year-over-year, with revenues projected at $1.95 billion, indicating a 10.5% year-over-year growth [1]. Earnings Estimates - Over the past 30 days, the consensus EPS estimate for Ametek has been revised upward by 1.4%, indicating analysts' reassessment of their initial forecasts [2]. - Changes in earnings estimates are crucial for predicting investor reactions, as empirical research shows a strong correlation between earnings estimate revisions and short-term stock performance [3]. Key Metrics Projections - Analysts estimate 'Net Sales - Electronic Instruments' to reach $1.34 billion, representing a 9.9% year-over-year increase [5]. - 'Net Sales - Electromechanical' is projected to be $603.75 million, indicating a 10.4% year-over-year growth [5]. - The average prediction for 'Operating Income - Electronic Instruments' is $398.70 million, compared to $386.65 million from the previous year [5]. - 'Operating Income - Electromechanical' is expected to reach $139.63 million, up from $111.19 million year-over-year [6]. Stock Performance - Ametek shares have shown an 8.4% return over the past month, outperforming the Zacks S&P 500 composite, which increased by 0.8% [6]. - Ametek holds a Zacks Rank 2 (Buy), suggesting it is expected to outperform the overall market in the near future [6].

Industry Overview - 3D Printing, also known as additive manufacturing, has revolutionized product design and production since its introduction in the 1980s, allowing for unmatched precision, customization, and efficiency [1] - The technology has evolved from a prototyping technique to a scalable manufacturing solution, minimizing waste and enabling complex designs that traditional methods cannot achieve [2] Adoption and Benefits - Companies are increasingly adopting 3D Printing for rapid prototyping and on-demand production due to its cost-effectiveness, customization, precision, and sustainability compared to traditional manufacturing [3] - Localized production shortens supply chains and reduces transportation costs, while on-demand manufacturing eliminates the need for large inventories, which is particularly beneficial for industries with seasonal demand [3] Key Sectors - Adoption of 3D Printing is accelerating in key sectors such as healthcare, aerospace, automotive, and consumer goods, with applications ranging from lightweight aircraft components to patient-specific medical devices [4] Market Leadership - North America leads the 3D Printing market with over 35% share, driven by strong R&D investment, government initiatives, and advanced manufacturing infrastructure, while the Asia-Pacific region is rapidly expanding its adoption [5] Investment Opportunities - The 3D Printing sector presents compelling growth opportunities for investors, supported by an expanding addressable market and a strong innovation pipeline [5] - High-potential stocks in the 3D Printing space include NVIDIA (NVDA), AMETEK (AME), and Carpenter Technology (CRS) [6] Company Innovations - NVIDIA has significantly influenced the 3D Printing industry through its advanced AI and GPU technologies, enhancing efficiency and accuracy in manufacturing [7] - Notable collaborations include NVIDIA's partnership with HP's 3D Printing division, which utilizes NVIDIA's AI tool to optimize production processes [8] - NVIDIA is also backing startups like Freeform, which aims to create an AI-native, autonomous metal 3D printing factory [9] AMETEK's Capabilities - AMETEK is a leading producer of high-performance metal powders for additive manufacturing, offering a range of alloys tailored for various processes [13] - The company recently acquired Faro Technologies for $920 million, enhancing its precision scanning capabilities [15] ATI's Additive Manufacturing - ATI provides a full range of capabilities in the additive supply chain, including expertise in Electron Beam Melting and Direct Metal Laser Melting [16] - The company has commissioned a state-of-the-art facility for additive manufacturing, integrating design, printing, and inspection capabilities [18] Carpenter Technology's Additive Business - Carpenter Technology has built its additive capabilities through strategic acquisitions and operates an Emerging Technology Center for atomizing specialty alloys into metal powder [19] - The Carpenter Additive business is recognized for its versatile production of spherical, gas-atomized metal powders tailored for additive manufacturing [20]

Group 1 - Gabelli Funds, LLC will host the 36th Annual Pump, Valve, & Water Systems Symposium on February 26, 2026, in New York, NY [1] - The symposium will focus on discussions related to critical infrastructure, aerospace and defense, machine tools, and the oil and gas industry [2] - Attendees will have opportunities for one-on-one meetings with management from participating companies [2] Group 2 - Participating companies include AMETEK, Graco, Badger Meter, ITT, Crane, Landis+Gyr, Enpro, Mueller Water Products, Flowserve, Oil States International, Franklin Electric, and Watts Water Technologies [2] - A lunch presentation will be given by Robert Powelson, President & CEO of the National Association of Water Companies [3]

Core Viewpoint - Ametek (AME) is currently rated as a 2 (Buy) stock with a Momentum Style Score of B, indicating potential for near-term price increases based on recent performance and earnings estimates [3][11]. Company Performance - Ametek's shares have increased by 2.38% over the past week, matching the performance of the Zacks Electronics - Testing Equipment industry [5]. - Over the last month, Ametek's stock price has risen by 6.55%, outperforming the industry's 3.93% [5]. - In the past quarter, Ametek's shares have risen by 11.9%, and over the last year, they have increased by 16.54%, compared to the S&P 500's gains of 3.46% and 14.89%, respectively [6]. Trading Volume - Ametek's average 20-day trading volume is 1,013,341 shares, which serves as a bullish indicator when combined with rising stock prices [7]. Earnings Outlook - In the last two months, two earnings estimates for Ametek have been revised upwards, while none have been revised downwards, leading to an increase in the consensus estimate from $7.32 to $7.36 [9]. - For the next fiscal year, three estimates have moved upwards with no downward revisions during the same period [9].

Core Insights - FARO Technologies and Creaform have announced the formation of two new business units: FARO CREAFORM and FARO INSIGHT, aimed at enhancing metrology and reality capture solutions for various industries [2][4]. Group 1: FARO CREAFORM - FARO CREAFORM combines FARO's 3D Measurement business and Creaform's metrology solutions, focusing on delivering rigorous dimensional measurement solutions to improve manufacturing and maintenance outcomes [2][6]. - Under the leadership of Fanny Truchon, FARO CREAFORM aims to enhance the mobility and usability of metrology, providing a superior experience and a single point of contact for customers [3][4]. - The unit is positioned to become a leader in portable metrology, empowering industries to transition from hindsight to foresight [4]. Group 2: FARO INSIGHT - FARO INSIGHT will focus on reality capture solutions, enabling teams to transform physical data into actionable insights for construction, public safety, and geospatial applications [2][5]. - Led by Dietmar Wennemer, FARO INSIGHT aims to digitize the world, providing hardware and software solutions that reduce ambiguity in tracking progress and documenting changes [5][8]. - The unit supports digital-twin workflows and aims to enhance data management and sharing capabilities across various sectors [3][5]. Group 3: Company Background - FARO has over 40 years of experience in 3D measurement and reality capture, while Creaform has been a pioneer in handheld metrology since 2002, serving diverse industries such as automotive and aerospace [6][7]. - Both business units are part of AMETEK, Inc., which has annual sales exceeding $7.0 billion, indicating a strong financial backing for their growth and innovation strategies [7][8].