AMETEK Raises Guidance; Acquires NSI-MI Technologies - Quick Facts

(RTTNews) - AMETEK, Inc. (AME) announced, for 2021, the company now expects adjusted earnings per share to be in the range of $4.48 to $4.56, an increase from previous adjusted earnings guidance range of $4.18 to $4.30 per share. The company now expects overall sales to be up high teens on a percentage basis compared to the prior year, with organic sales up high single digits.

For the second quarter, the company expects adjusted earnings per share will be in the range of $1.08 to $1.10, up 29% to 31%. The company expects overall sales to be up in the low 30% range from prior year.

First quarter adjusted earnings per share increased to $1.07 from $1.02, last year. Sales were $1.22 billion, a 1% increase from last year, with organic sales growth of 1%.

Separately, AMETEK announced it has acquired NSI-MI Technologies, a provider of radio frequency and microwave test and measurement solutions and services, for $230 million.