Ametek raises profit outlook, buys Paragon Medical in $1.9 bln deal

Posted on:
Key Points

Oct 31 (Reuters) - Ametek (AME.N), which makes electronic instruments, raised its full-year forecast on Tuesday and announced its fifth and sixth acquisitions for 2023 as it expands into different markets and drives earnings growth...

Ametek, whose instruments and equipment are used in industries ranging from aerospace to food packaging, said it would buy medical components maker Paragon Medical in a $1.9 billion deal and Amplifier Research for an undisclosed amount...

The company also reported better-than-expected quarterly results and raised its full-year profit forecast to $6.31 to $6.33 per share, from $6.18 to $6.26 per share...

You might be interested in

Stryker tightens profit forecast on steady demand for its medical devices

03, Nov, 23

Stryker Corp (SYK.N) on Thursday raised the lower end of its full-year profit forecast as the medtech company sees steady demand for its medical and surgical devices from a post-pandemic pick-up in volumes of surgical procedures at hospitals.

Panasonic Q1 profit jumps, maintains FY forecast

31, Jul, 23

Japan's Panasonic Holdings (6752.T) posted a 42% rise in first quarter profit on Monday, buoyed by a weaker yen and stronger sales in its automotive and energy segments, while it stuck to its full-year outlook.

Keysight Technologies beats quarterly profit estimates

21, Nov, 23

Keysight Technologies (KEYS.N) beat market estimates for fourth-quarter profit on Monday, as the electronic equipment maker continued to benefit from steady demand in segments such aerospace and defense.

India's Coforge Q3 profit rises on deal wins, maintains FY revenue forecast

22, Jan, 24

BENGALURU (Reuters) - Indian IT services company Coforge reported a 4.3% increase in third-quarter profit, aided by deal wins in a challenging macroeconomic environment, and reiterated its revenue

India's Prestige Estates Projects posts higher Q2 profit on strong housing demand

07, Nov, 23

India's Prestige Estates Projects (PREG.NS) reported a more than six-fold jump in second-quarter profit on Tuesday, aided by a buoyant housing demand.

Uber Posts First Annual Profit Since Its IPO

07, Feb, 24

The company’s latest results mark an end to the growth-at-all-costs era.

PepsiCo lifts profit forecast again as price hikes fail to dent demand

10, Oct, 23

International Business News: PepsiCo Inc on Tuesday raised its annual profit forecast for a third time this year, as the company banks on the multiple price increases it had under.

IEA raises oil demand forecast despite global economic slowdown: Report

14, Nov, 23

The IEA has adjusted its 2023 growth forecast to 2.4 million barrels per day (bpd), moving closer to OPEC's forecast of 2.46 million bpd.

Palantir surges as AI to power growth after 'most significant' profit

02, Nov, 23

Palantir (PLTR.N) signaled on Thursday its artificial intelligence offerings would aid growth in the last three months of 2023, after delivering a fourth straight quarterly profit on growing demand for its data analytics services from corporates.

HP forecasts downbeat first-quarter profit amid slow PC market recovery

22, Nov, 23

HP Inc (HPQ.N) on Tuesday forecast first-quarter profit below Wall Street estimates but maintained its annual earnings outlook, a sign that demand in the personal computers market is still recovering.