Latest news with #ProfitForecast
Yahoo
6 hours ago
- Business
- Yahoo
Ametek raises annual profit forecast on steady demand in electromechanical unit
(Reuters) -Industrial tools maker Ametek raised its annual profit forecast on Thursday, after beating second-quarter estimates, benefiting from steady demand in its electromechanical segment (EMG) and its recent acquisition of FARO Technologies. Shares of Ametek, which makes testing and measurement instruments, medical devices as well as automation solutions, rose about 6% in early trading following the results. Quarterly sales at the electromechanical unit, which produces specialized motors, sensors and motion control systems used across industrial and aerospace markets, rose 6% to $618.5 million from a year ago. The segment has been a key growth driver for the Berwyn, Pennsylvania-based company as manufacturers ramp up automation and efficiency investments despite a mixed macroeconomic backdrop. "EMG had an excellent quarter highlighted by strong organic sales and orders growth, record-level operating income and robust margin expansion," CEO David Zapico said. Ametek's purchase of FARO Technologies, which closed earlier this month, also helped the firm expand its market. The company forecast 2025 adjusted profit in the range of $7.06 to $7.20 per share, above its prior view of $7.02 to $7.18. It expects annual overall sales to be up mid-single digits, compared with its previous forecast of low-single digit percentage growth. Ametek earned second-quarter profit of $1.78 per share on an adjusted basis, beating analysts' average estimate of $1.69 per share, according to data compiled by LSEG. The company's quarterly net sales rose to $1.78 billion from $1.74 billion a year ago. Analysts were expecting revenue of $1.73 billion. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
8 hours ago
- Business
- Reuters
S&P Global forecasts annual profit above estimates on strong demand
July 31 (Reuters) - Financial information company S&P Global (SPGI.N), opens new tab raised its annual profit forecast on Thursday and beat Wall Street estimates for second-quarter earnings on strong demand for its data and analytics products. More investors are using market analytics tools to make the best of a volatile market, which is pressured by tariff and rate cut uncertainties. S&P Global now expects its 2025 adjusted earnings per share to be between $17.00 and $17.25, compared with its prior estimate of $16.75 to $17.25. The company reported an adjusted profit of $1.36 billion, or $4.43 per share, in the second quarter ended June. 30, up from $1.28 billion, or $4.04 per share, a year earlier. Analysts had estimated an adjusted profit of $4.22 per share, according to data compiled by LSEG. The market intelligence unit, S&P Global's biggest segment in terms of revenue which provides data and analytics, posted a 5% rise in revenue to $1.22 billion from a year earlier. S&P Global's total revenue increased 6% to $3.76 billion. The New York-based company provides credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. S&P also announced Bill Eager as CEO designate for S&P Global Mobility. Until Wednesday's close, shares of the company were up about 7% YTD, compared with a marginal 0.42% gain in Moody's (MCO.N), opens new tab. Peer Moody's also reported a rise in second-quarter profit last week on strong product demand.
Yahoo
3 days ago
- Business
- Yahoo
Revvity trims 2025 profit forecast on soft demand for diagnostics in China
(Reuters) -Medical equipment maker Revvity on Monday lowered its full-year adjusted profit forecast as it expects demand for its diagnostics products in some international markets to remain soft, sending the company's shares down 8% premarket. The company, which makes more than 50% of its annual revenues from markets outside the United States, said sales of its diagnostics products in China, a key market, declined by double digits during the second quarter. Revvity said last quarter that it expected to take a $135 million hit from potential tariffs on China. It planned to adjust its manufacturing footprint and was in discussions with alternative suppliers, to mitigate impact from tariffs. The Massachusetts-based company now expects adjusted profit for 2025 between $4.85 and $4.95 per share, compared with its previous forecast of $4.90 to $5.00 per share. Analysts were expecting a profit of $4.93 per share, according to data compiled by LSEG. Revvity expects revenue of $2.84 billion to $2.88 billion for the full year, helped in part by a weaker U.S. dollar. It had previously forecast annual revenue of $2.83 billion to $2.87 billion and analysts were expecting $2.85 billion. The forecast cut from Revvity is in contrast to results from its peers Thermo Fisher Scientific and Danaher, which raised their annual profit forecasts last week. Second-quarter results, however, came in line with industry peers, as Revvity posted strong quarterly profit and sales of its life sciences products were $365.9 million, above estimates of $353.9 million. Thermo Fisher, Danaher and others have flagged robust demand across regions for their drug development products such as instruments and analytical tools used in trials and manufacturing, after two years of weak biotech funding. Sign in to access your portfolio
Yahoo
24-07-2025
- Business
- Yahoo
A.O. Smith lifts annual profit forecast, considers China partnership
(Reuters) -Water heater maker A.O. Smith will consider strategic partnerships and other alternatives for its China business, it said on Thursday after raising its annual profit forecast. "We believe the China market has substantial long-term prospects and are committed to realizing the potential upside inherent in the company's China business for our company," CEO Steve Shafer said. The Milwaukee, Wisconsin-based company is banking on higher market share in the second half of the year and cost savings from its restructuring actions. It now expects annual adjusted earnings per share to be in the range of $3.70 to $3.90, compared with its previous forecast of $3.60 to $3.90. Analysts on an average expected $3.78 per share for 2025, according to data compiled by LSEG. But second quarter revenue fell about 1% from a year ago to $1.01 billion. Sales from other parts of the world, including China and India, also fell nearly 2% to $240.1 million. Net income for the quarter ended June 30 was $152.2 million billion, or $1.07 per share, compared with $156.2 million, or $1.06 per share, a year earlier.
Reuters
24-07-2025
- Business
- Reuters
A.O. Smith lifts annual profit forecast, considers China partnership
July 24 (Reuters) - Water heater maker A.O. Smith (AOS.N), opens new tab will consider strategic partnerships and other alternatives for its China business, it said on Thursday after raising its annual profit forecast. "We believe the China market has substantial long-term prospects and are committed to realizing the potential upside inherent in the company's China business for our company," CEO Steve Shafer said. The Milwaukee, Wisconsin-based company is banking on higher market share in the second half of the year and cost savings from its restructuring actions. It now expects annual adjusted earnings per share to be in the range of $3.70 to $3.90, compared with its previous forecast of $3.60 to $3.90. Analysts on an average expected $3.78 per share for 2025, according to data compiled by LSEG. But second quarter revenue fell about 1% from a year ago to $1.01 billion. Sales from other parts of the world, including China and India, also fell nearly 2% to $240.1 million. Net income for the quarter ended June 30 was $152.2 million billion, or $1.07 per share, compared with $156.2 million, or $1.06 per share, a year earlier.
