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AMETEKⓇ AMETEK Announces Record Third Quarter Results and Raises 2021 Guidance November 2 , 2021 BERWYN , Pa . , Nov. 2 , 2021 / PRNewswire / -- AMETEK , Inc. ( NYSE : AME ) today announced its financial results for the third quarter ended September 30 , 2021 . AMETEK's third quarter 2021 sales were a record $ 1.44 billion , a 28 % increase over the third quarter of 2020 , with organic sales growth of 17 % . Operating income increased 25 % to a record $ 337.6 million and operating margins were 23.4 % with strong core operating margin expansion . On a GAAP basis , third quarter earnings per diluted share were $ 1.10 . Adjusted earnings were a record $ 1.26 per diluted share , up 25 % versus the prior year's adjusted results . Adjusted earnings adds back non - cash , after - tax , acquisition - related intangible amortization of $ 0.16 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's results in the quarter were outstanding , " commented David A. Zapico , AMETEK Chairman and Chief Executive Officer . " Our businesses delivered record results which exceeded our expectations despite a challenging operating environment . Order growth remains strong and broad - based resulting in a record $ 2.6 billion backlog . Given this performance , we are again raising our sales and earnings guidance for the full year . " Electronic Instruments Group ( EIG ) Third quarter EIG sales were a record $ 981.8 million , up 31 % compared to last year's third quarter . EIG's operating income in the quarter was up 20 % to a record $ 245.1 million , and operating margins were 25.0 % . " EIG performed extremely well in the quarter delivering record sales and operating income driven by strong organic sales growth and the contribution from recent acquisitions , " noted Mr. Zapico . " Sales growth remains robust across our businesses reflecting continued strengthening in our end markets . " Electromechanical Group ( EMG ) EMG sales in the third quarter were $ 458.9 million , an increase of 21 % over the third quarter of 2020. Operating income for EMG increased 36 % over the prior - year period to a record $ 114.6 million , and operating margins were up 270 basis points to a record 25.0 % . " EMG had an impressive quarter with strong sales growth and outstanding operating performance , " commented Mr. Zapico . " Our EMG businesses delivered exceptional results with broad - based sales growth , operating income up 36 % over the prior year , and record level operating margins . " 2021 Outlook " Our businesses continue to perform exceedingly well in a challenging environment . Our success reflects the hard work and commitment of all AMETEK colleagues worldwide as well as the power of the AMETEK Growth Model . Our differentiated businesses , diversified market exposures and proven operating model provide us the ability to drive long - term , sustainable growth , " continued Mr. Zapico . " Following our third quarter results , we are increasing our guidance for the year . For 2021 , we now expect overall sales to be up in the low 20 % range with organic sales up low double digits on a percentage basis versus 2020. Adjusted earnings per diluted share are expected to be in the range of $ 4.76 to $ 4.78 an increase of 21 % over the prior year comparable basis . This is an increase from our previous adjusted earnings guidance range of $ 4.62 to $ 4.68 per diluted share , " he added . " We expect overall sales in the fourth quarter to be up in the low 20 % range compared to the fourth quarter of 2020. Adjusted earnings per diluted share are anticipated to be in the range of $ 1.28 to $ 1.30 , up 19 % to 20 % over the same period in 2020 , " concluded Mr. Zapico . Conference Call AMETEK will webcast its third quarter 2021 investor conference call on Tuesday , November 2 , 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 $ 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 : AMETEK , Inc. Kevin Coleman