AMETEK to Buy $80M-Sales MRO Firm and Posts 11% Q1 Revenue Gain
AMETEK agreed to acquire First Aviation Services, which has annual sales of approximately $80 million and six U.S. maintenance centers, to expand its mission-critical aviation MRO platform. In Q1, AMETEK reported 11% sales growth to $1.93 billion and raised full-year adjusted EPS guidance to $7.94–$8.14, up 7–10%.
1. Agreement to Acquire First Aviation Services
AMETEK entered a definitive agreement to acquire First Aviation Services, a provider of engineered defense and aviation maintenance, repair and overhaul services and proprietary components, with annual sales of about $80 million across six U.S. centers. The transaction expands AMETEK’s MRO capabilities in advanced electronics, rotor assemblies, propellers, landing gear and flight controls and is subject to customary closing conditions.
2. Record First Quarter Results and Guidance Raised
In the first quarter, AMETEK delivered $1.93 billion in sales, up 11% year-over-year, with GAAP earnings of $1.74 per share and adjusted EPS of $1.97, a 13% increase. Operating income was $514.9 million with 26.8% margins, backlog rose 23%, and full-year adjusted EPS guidance was raised to $7.94–$8.14, reflecting strong order momentum.