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AMETEK’s $5 Billion Indicor Acquisition: Can It Reshape The Growth Story?

AMETEK delivered a strong second quarter in 2026, achieving record sales of $2.04 billion, which reflected a 15% increase year-over-year, including 10% organic growth and 5% from acquisitions. Orders reached a record $2.3 billion, up 28%, with organic orders growing sharply by 25%, resulting in a backlog of $4.11 billion. Both operating income and EBITDA set new highs, increasing by 18% and 14%, respectively. Operating margins expanded to 26.6%, with core margins reaching 27.1%, up 110 basis points from the prior year. Earnings per share reached $2.09, beating guidance and marking a 17% increase. Free cash flow showed strength, rising 37% to $452 million and converting at a rate of 111% of net income, supported by disciplined working capital management. At the segment level, the Electronics Instruments Group (EIG) posted second-quarter sales of $1.32 billion, up 14%, with organic growth of 7%.