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AMETEKⓇ AMETEK Announces Record Second Quarter Results and Raises 2021 Guidance August 3 , 2021 BERWYN , Pa . , Aug. 3 , 2021 / PRNewswire / -- AMETEK , Inc. ( NYSE : AME ) today announced its financial results for the second quarter ended June 30 , 2021 . AMETEK's second quarter 2021 sales were a record $ 1.39 billion , a 37 % increase over the second quarter of 2020 , with organic sales growth of 25 % . Operating income increased 39 % to a record $ 316.6 million and operating margins were 22.8 % , up 40 basis points over the prior - year period . On a GAAP basis , second quarter earnings per diluted share were $ 1.00 . Adjusted earnings were a record $ 1.15 per diluted share , up 37 % versus the prior year's adjusted results . Adjusted earnings adds back non - cash , after - tax , acquisition - related intangible amortization of $ 0.15 per diluted share . A reconciliation of reported GAAP results to adjusted results is included in the financial tables accompanying this release and on the AMETEK website . " AMETEK delivered outstanding results in the second quarter with record sales , operating income and adjusted earnings , " commented David A. Zapico , AMETEK Chairman and Chief Executive Officer . " Sales growth and operating performance were exceptionally strong while earnings exceeded our expectations . Order growth remains robust and broad - based resulting in a record $ 2.5 billion in backlog . Additionally , our businesses generated outstanding levels of cash flow with free cash flow conversion a strong 114 % of net income . " Electronic Instruments Group ( EIG ) Second quarter EIG sales were a record $ 933.9 million , up 44 % compared to last year's second quarter . EIG's operating income in the quarter was up 42 % to $ 226.6 million , and operating margins were 24.3 % . " EIG performed exceptionally well in the quarter with a record level of sales driven by strong organic growth and contributions from the recent acquisitions , " noted Mr. Zapico . " EIG also delivered superb operating performance with operating income up more than 40 % and strong core operating margin expansion . " Electromechanical Group ( EMG ) EMG sales in the second quarter were $ 452.4 million , an increase of 24 % over the second quarter of 2020. Operating income for EMG increased 33 % over the prior - year period to a record $ 112.4 million , and operating margins were up 170 basis points to a record 24.9 % . " EMG had an exceptional quarter with strong sales growth and outstanding operating performance , " commented Mr. Zapico . " Our team's tremendous efforts during the pandemic positioned us well to benefit from the recovery resulting in robust margin expansion . " 2021 Outlook " We are pleased with AMETEK's performance through the first half of the year . Sales and orders growth has been broad based as the global economy continues its recovery . Our businesses are executing extremely well , generating strong levels of cash flow which firmly position us to continue investing in growth opportunities including strategic acquisitions . This outstanding performance , along with our proven ability to manage well through various economic cycles , reflects the strength and sustainable nature of the AMETEK Growth Model , " continued Mr. Zapico . " Following our second quarter results , we are increasing our guidance for the year . For 2021 , we now expect overall sales to be up approximately 20 % with organic sales up approximately 10 % . Adjusted earnings per diluted share are expected to be in the range of $ 4.62 to $ 4.68 , up 17 % to 18 % over 2020 and an increase from our previous guidance range of $ 4.48 to $ 4.56 per diluted share , " he added . " We expect overall sales in the third quarter to be up in the mid - 20 % range compared to the third quarter of 2020. Adjusted earnings per diluted share are anticipated to be in the range of $ 1.16 to $ 1.18 , up 15 % to 17 % over the same period in 2020 , " concluded Mr. Zapico . Conference Call AMETEK will webcast its second quarter 2021 investor conference call on Tuesday , August 3 , 2021 , beginning at 8:30 AM ET . The live audio webcast will be available and later archived in the Investors section of www.ametek.com . About AMETEK AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with annualized sales of approximately $ 5.5 billion . The AMETEK Growth Model integrates the Four Growth Strategies - Operational Excellence , New Product Development , Global and Market Expansion , and Strategic Acquisitions - with a disciplined focus on cash generation and capital deployment . AMETEK's objective is double - digit percentage growth in earnings per share over the business cycle and a superior return on total capital . The common stock of AMETEK is a component of the S & P 500 . Forward - looking Information Statements in this news release relating to future events , such as AMETEK's expected business and financial performance are " forward - looking statements . " Forward - looking statements are subject to various factors and uncertainties that may cause actual results to differ significantly from expectations . These factors and uncertainties include risks related to COVID - 19 and its potential impact on AMETEK's operations , supply chain , and demand across key end markets ; AMETEK's ability to consummate and successfully integrate future acquisitions ; risks with international sales and operations , including supply chain disruptions ; AMETEK's ability to successfully develop new products , open new facilities or transfer product lines ; the price and availability of raw materials ; compliance with government regulations , including environmental regulations ; changes in the competitive environment or the effects of competition in our markets ; the ability to maintain adequate liquidity and financing sources ; and general economic conditions affecting the industries we serve . A detailed discussion of these and other factors that may affect our future results is contained in AMETEK's filings with the U.S. Securities and Exchange Commission , including its most recent reports on Form 10 - K , 10 - Q and 8 - K . AMETEK disclaims any intention or obligation to update or revise any forward - looking statements . Contact :