Oct 31 (Reuters) - Industrial technology solutions
provider Ametek ( AME ) raised its full-year profit forecast on
Thursday, as third-quarter sales exceeded expectations, due to
strong performance in its electromechanical (EMG) segment.
Ametek ( AME ) shares rose 3% in pre-market trading.
The company now expects full-year profit per share to be
between $6.77 and $6.82, after previously lowering its forecast
in August to a range of $6.70 to $6.80 per share due to
customers delaying projects amid higher borrowing costs and
persistent inflation.
The company manufactures electronic equipment for power,
industrial and aerospace markets, while its EMG segment designs
and manufactures medical components, devices and automation
solutions, among other products.
Ametek's ( AME ) earnings per share of $1.66 in the quarter came in
above average analysts' estimates of $1.62, according to data
compiled by LSEG.
Its third-quarter revenue of $1.71 billion was 5% higher
than last year and in line with analysts' estimates.