AMETEK, Inc. Q2 2026 Earnings Recap

AMETEK’s Q2 performance and outlook exceeded expectations, driving a 4.5% stock gain as the company reported record sales, strong margin expansion, and broad-based orders growth that underpinned its raised full-year guidance.

Key Takeaways

• Q2 sales hit a record $2.04 billion, up 15% YoY, with 10% organic growth and a 5% contribution from acquisitions.
• Orders surged 28% overall (25% organic), creating a record backlog of $4.11 billion, reflecting sustained strong demand across all divisions.
• Operating income rose 18% to $544 million, with core margins expanding 110 basis points to 27.1%.
• Free cash flow grew 37% to $452 million, converting at 111% of net income, indicative of disciplined working capital management.
• Both Electronic Instruments Group and Electromechanical Group posted substantial sales and margin improvements, with EMG core margins up 290 basis points to 26.2%.