AMETEK, Inc. (NYSE:AME) Q1 2024 Earnings Conference Call May 2, 2024 8:30 AM ET

Company Participants

Kevin Coleman - Vice President, Investor Relations and Treasurer
Dave Zapico - Chairman of the Board and Chief Executive Officer
Dalip Puri - Executive Vice President and Chief Financial Officer

Conference Call Participants

Deane Dray - RBC Capital Markets
Jeffrey Sprague - Vertical Research Partners
Peter Costa - Mizuho
Scott Graham - Seaport Research Partners
Andrew Obin - Bank of America
Christopher Glynn - Oppenheimer Holdings
Nigel Coe - Wolfe Research

Operator

Good day and thank you for standing by. Welcome to AMETEK’s First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentations, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today, Kevin Coleman, Vice President of Investor Relations and Treasurer. Please go ahead.

Kevin Coleman

Thank you, Julia. Good morning and thank you for joining us for AMETEK's first quarter 2024 earnings conference call. With me today are Dave Zapico, Chairman and Chief Executive Officer; and Dalip Puri, 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 risk 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 2023 or 2024 results or to 2024 guidance will be on an adjusted basis, excluding after-tax, acquisition-related intangible amortization and excluding the pretax $29.2 million or $0.10 per diluted share charge in the first quarter or integration cost related to the Paragon Medical acquisition. 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 and then we'll open the call for questions.

I'll now turn the meeting over to Dave.

Dave Zapico

Thank you, Kevin, and good morning, everyone. AMETEK delivered strong results in the first quarter of 2024 with outstanding operating performance leading to double-digit growth and earnings per share. During the quarter, we established records for sales, operating income, and EBITDA and delivered robust core margin expansion and excellent cash flows. Considering our first quarter results and the positive outlook for the back half of the year, we are increasing our earnings guidance for the full year. AMETEK's continued success is a testament to the strength and resiliency of our growth model, the quality of our businesses, and the outstanding contributions from all AMETEK colleagues.