A maker of electronic instruments and electromechanical devices, Ametek supplies precision tools used in aerospace, medical, industrial, and defense settings—everything from pressure gauges and aircraft sensors to power supplies and floor-care motors sold under brands like Paragon and Lamb. Formed in 1930 through a merger of American Machine and Metals, it later shortened its name to Ametek, a blend of those original words. Its early years were anchored in scrap-metal recovery and fertilizer equipment before it moved into the high-tech instruments it's known for today.
Organic sales rose 10% in Q2, the fastest rate in the period shown, as EMG's recovery accelerated and orders hit a record $2.28B.
accelerated to 10%, the fastest rate in the quarterly series, as the Electromechanical Group's recovery gathered pace. rose 15% to a record $2.04 billion and grew 14.2% to $1.77, though dipped 0.1 points as acquisition costs offset Operational Excellence gains. The company is now funding a $5 billion acquisition of Indicor, a deal that will reshape its balance sheet.
Key takeaways
Organic sales grew 10% in Q2, up from 5% in Q1, as the Electromechanical Group (EMG) posted 16.9% reported sales growth driven by the reversal of customer normalization that had depressed the for over a year.
Orders rose 28.2% to a record $2,284.0 million, lifting to $4,110.2 million, and EMG's expanded 290 excluding acquisition costs.
Consolidated rose 14.4% to $528.2 million, but reported contracted 0.1 points to 25.8% as $16.2 million in acquisition integration costs and M&A impact offset Operational Excellence gains.
Section summaries
Management's Discussion and Analysis
Record Q2 sales of $2.04B (+15% YoY) driven by 10% organic growth and acquisitions; operating margins dipped 20 bps on deal costs.
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Q2 2026 rose 15.0% to a record $2,044.4M, with 10% and 5% from acquisitions (FARO, LKC, First Aviation).
widened 0.2 points to 36.0%, down from 37.2% in Q1, as the mix shift from EMG's recovery in lower-margin automation businesses partially reversed the prior quarter's peak.
rose 78.6% to $30.2 million, driven by $10 million in fees for the pending $5 billion Indicor acquisition, which the company is funding with a $4 billion term loan and an expanded $3.5 billion .
for the first half reached $935.2 million, and was $877.7 million, up 21.2% from the first half of 2025.
What changed
The 10% in Q2 answers the question flagged in Q1 of whether the 22% organic order growth would convert: it did, and at an accelerating rate from the 5% organic sales growth in Q1.
EMG's 16.9% reported sales growth and 290-basis-point underlying confirm that the 's recovery extends well beyond the one-time snapback from normalization that was flagged as a risk in FY 2025.
The 37.2% peak in Q1 proved unsustainable, as flagged, falling 1.2 points to 36.0% in Q2 as EMG's lower-margin automation business mix increased with the 's recovery.
The pending $5 billion Indicor acquisition, announced after Q1, represents a step-change in scale from the $920 million FARO deal and the $80 million First Aviation acquisition, and introduces significant integration and risk not present in prior quarters.
What to watch
Whether the 10% rate is sustained in Q3, or if the Q2 acceleration partly reflects a pull-forward from the record 28.2% order growth.
The closing and initial margin impact of the $5 billion Indicor acquisition, and whether the $4 billion term loan and expanded materially increase beyond the $10 million in bridge fees already incurred.
The trajectory of EMG's , which reached 25.7% in Q1 and expanded further excluding deal costs in Q2, and whether it can hold those levels as the lower-margin automation mix continues to recover.
The conversion rate of the record $4.11 billion into , and at what margin, given the potential for tariff-related cost pressures flagged by management in prior quarters.
operating margins declined 20 to 27.3%, as $16.2M in acquisition integration costs and M&A impact offset Operational Excellence gains.
EMG led with 16.9% sales growth and a 290 expansion (excluding deal costs), while EIG margins contracted on higher acquisition .
Orders surged 28.2% to a record $2,284.0M, lifting to $4,110.2M; rose 78.6% on $10M in fees for the pending $5B Indicor acquisition.
reached $935.2M for H1 2026, and the company expanded its to $3.5B while arranging a $4B term loan to fund the Indicor deal.