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    Christopher Glynn • Oppenheimer

    Christopher Glynn's questions to AMETEK Inc (AME) leadership

    Christopher Glynn's questions to AMETEK Inc (AME) leadership • Q3 2024

    Question

    Christopher Glynn asked for details on the sequential order pattern for the Electronic Instruments Group (EIG), an update on previously mentioned defense project delays, and the composition of the M&A pipeline.

    Answer

    Chairman and CEO David Zapico confirmed that the book-to-bill ratio was above 1.0 for both operating groups. He noted that defense project timing created lumpiness in Q2 and Q3 but expects a positive reversal in Q4. He described the M&A pipeline as strong and active, with a variety of deal sizes and an accelerating pace of activity.

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    Christopher Glynn's questions to Barrick Gold Corp (B) leadership

    Christopher Glynn's questions to Barrick Gold Corp (B) leadership • Q1 2024

    Question

    Christopher Glynn of Oppenheimer & Co. Inc. inquired about the components of the 2024 free cash flow guidance, seeking to understand the impact of one-time items like transaction costs and restructuring cash. He also asked about the size of the MB Aerospace acquisition-related amortization and the company's stance on excluding it from adjusted EPS.

    Answer

    CFO Julie Streich clarified that while normalized cash conversion should exceed 100%, the 2024 figure is impacted by several items, including a $17 million transition tax payment and $16 million in taxes related to the Associated Spring and Hänggi divestiture. She stated the quarterly amortization from the MB Aerospace deal is approximately $6 million and that the company provides adjusted EBITDA as a key metric to neutralize this non-cash charge, rather than adjusting EPS.

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