AMETEK Inc.'s (AME) CEO David Zapico On Q1 2022 Results - Earnings Call Transcript

AMETEK, Inc. (NYSE:AME) Q1 2022 Earnings Conference Call May 3, 2022 8:30 AM ET

Company Participants

Kevin Coleman - Vice President-Investor Relations and Treasurer

David Zapico - Chairman and Chief Executive Officer

William Burke - Executive Vice President and Chief Financial Officer

Conference Call Participants

Matt Summerville - D.A. Davidson

Deane Dray - RBC Capital Markets

Allison Poliniak-Cusic - Wells Fargo

Rob Wertheimer - Melius Research

Scott Graham - Loop Capital Markets

David Ridley-Lane - Bank of America

Operator

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

Now I will turn the call over to Kevin Coleman, Vice President of Investor Relations and Treasurer.

Kevin Coleman

Thank you, John. Good morning and thank you for joining us for AMETEK's first 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 make 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 open it up for questions. I'll now turn the meeting over to Dave.

David Zapico

Thank you, Kevin, and good morning, everyone. AMETEK delivered outstanding results in the first quarter with strong sales growth and excellent operating performance, driving robust core margin expansion and earnings which exceeded our expectations.

We are also seeing continued strong demand. This demand remains broad based across our diverse set of niche markets, leading to outstanding orders growth and a record backlog. I'm very proud of the way our teams are managing a challenging and uncertain macro environment. AMETEK's flexible operating model allows our businesses to quickly adjust and adapt to changing economic conditions and deliver exceptional results.