Deane Dray's questions to AMETEK Inc (AME) leadership • Q3 2024
Question
Deane Dray requested a walkthrough of performance by end market and geography, with a specific focus on China, and asked whether prolonged destocking indicates lower demand versus a simple inventory correction.
Answer
Chairman and CEO David Zapico detailed end market performance, noting strength in Aerospace & Defense and weakness in Process and Power & Industrial organic sales. Geographically, he highlighted strong growth in Europe and Asia, with China up 10% due to market share gains. Zapico expressed confidence that the current headwinds are a destocking issue, not a fundamental demand problem, citing robust new business activity and project pipelines.