AMETEK Inc (AME) CEO Dave Zapico on Q2 2022 Results - Earnings Call Transcript

AMETEK Inc (NYSE:AME) Q2 2022 Earnings Conference Call August 2, 2022 8:30 AM ET

Company Participants

Kevin Coleman - Head of IR

Dave Zapico - CEO

Bill Burke - CFO

Conference Call Participants

Allison Poliniak - Wells Fargo

Josh Pokrzywinski - Morgan Stanley

Nigel Coe - Wolfe Research

Brett Linzey - Mizuho Americas

Jeff Sprague - Vertical Research

Andrew Obin - Bank of America

Will Jellison - D.A. Davidson

Joe Giordano - Cowen

Scott Graham - Loop Capital Markets

Brett Hardman - Melius Research

Operator

Welcome to the Second Quarter 2022 AMETEK Earnings Conference Call. My name is Richard, and I'll be your operator for today's call. At this time, all participants are in a listen-only mode. Later, we will conduct the question and answer session [Operator Instructions]

I will now turn the call over to Kevin Coleman, Vice President of Investor Relations and Treasurer. Mr. Coleman, you may begin.

Kevin Coleman

Thank you, Richard. Good morning, and thank you for joining us for AMETEK's second quarter 2022 earnings conference call.

With me today are Dave Zapico, Chairman and Chief Executive Officer; and Bill Burke, Executive Vice President and Chief Financial Officer.

During the course of today's call, we will be making forward-looking statements, which are subject to change based on various risk factors and uncertainties that may cause actual results to differ significantly from expectations. A detailed discussion of the risks and uncertainties that may affect our future results is contained in AMETEK's filings with the SEC. AMETEK disclaims any intention or obligation to update or revise any forward-looking statements.

Any references made on this call to 2021 or 2022 results will be on an adjusted basis, excluding after-tax, acquisition-related intangible amortization. Reconciliations between GAAP and adjusted measures can be found in our press release and on the Investors section of our website.

We'll begin today's call with prepared remarks by Dave and Bill, and then we'll open it up for questions.

I'll now turn the meeting over to Dave.

Dave Zapico

Thank you, Kevin, and good morning, everyone. AMETEK had another excellent quarter, with stronger-than-expected organic sales growth, outstanding operating performance, robust margin expansion and record earnings. Importantly, demand remains strong and broad-based across our diversified niche markets, leading to impressive organic order growth and a record $3.1 billion backlog.

Given our second quarter results and our outlook for the back half of 2022, we have increased our earnings guidance for the year.