AMETEK Q1 EPS and Sales Beat Views

AMETEK shares drifted slightly lower in pre-market after the company reported Q1 earnings of $0.60 per diluted share compared with an income of $0.57 per share a year ago, beating the $0.57 average EPS estimate from analysts polled by Capital IQ. Net sales jumped to $1.01 billion from $944.4 million a year ago, coming in above the $961.4-million consensus.

In a statement released early Tuesday, the company said it expects the full-year 2017 sales to increase in mid-single digits, with organic revenue up in low-single digits. The company now expects adjusted FY EPS of $2.40 to $2.48, up from the prior range between $2.34 to $2.46 and straddling the $2.44 estimate.

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