May 1 (Reuters) - Industrial tools maker Ametek Inc ( AME )
on Thursday reported a modest uptick in first-quarter
earnings, aided by robust sales and order growth at its
electromechanical business.
The Berwyn, Pennsylvania-based company expects to weather
the tariff-led macroeconomic environment with a strong demand
outlook and robust cash flow conversion.
"While uncertainty has increased as a result of the global
trade dynamics, we believe we can offset tariff headwinds
through the implementation of mitigation actions," CEO David
Zapico said.
Ametek ( AME ), which makes testing and measurement instruments,
medical devices as well as automation solutions, reiterated its
annual adjusted earnings forecast of $7.02 to $7.18 per share.
It expects full-year sales growth of low-single digits,
compared with a year ago.
The company's adjusted earnings grew 7% to $1.75 per share
in the first quarter from a year ago, beating analysts' average
estimate of $1.69, according to LSEG data.
However, its quarterly sales of $1.73 billion were slightly
lower than analysts' view.
Ametek's ( AME ) sales at the electromechanical group business
touched a record high of $588.3 million in the three months
ending March 31, led by strong order growth in the Paragon
Medical business.
Sales at its electronic instruments group business, which
caters to aerospace, medical, power and industrial markets,
slipped 1% to $1.14 billion.