RTTNews | Oct 29, 2020 09:27AM EDT

09:27 Thursday, October 29, 2020 (RTTNews.com) - While reporting financial results for the third quarter on Thursday, AMETEK, Inc. (AME) reinstated its quarterly guidance and provided adjusted earnings and sales growth guidance for the fourth quarter, given the recovery and improved visibility across its businesses.

For the fourth quarter, the company projects adjusted earnings in a range of $1.00 to $1.04 per share on year-over-year sales decline in the high single digit percentage.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.98 per share on a sales decline of 8.9 percent to $1.19 billion for the quarter. Analysts' estimates typically exclude special items.

"While the pandemic continues to present uncertainty, our end markets are gradually recovering, and we are well positioned to deliver strong results," said David Zapico, Chairman and Chief Executive Officer.

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