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AMETEK Q2 profit climbs YOY

AMETEK Inc. said its second-quarter normalized net income was 55 cents per share, compared with the S&P Capital IQ consensus estimate of 64 cents per share.

EPS increased year over year from 53 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $134.5 million, a gain from $130.3 million in the prior-year period.

The normalized profit margin increased to 13.4% from 13.1% in the year-earlier period.

Total revenue grew on an annual basis to $1.00 billion from $990.7 million, and total operating expenses came to $763.4 million, compared with $759.0 million in the year-earlier period.

Reported net income increased on an annual basis to $155.9 million, or 64 cents per share, from $150.9 million, or 61 cents per share.