AMETEK, Inc.

Good day and thank you for standing by. Welcome to Q3 2026 AMETEK earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference call is being recorded. I would now like to hand the conference over to your first speaker today, Kevin Coleman, VP, Investor Relations and Treasurer.

Thank you, Stephanie. Good morning and welcome to AMETEK's third quarter 2026 earnings conference call. Joining me today are Dave Zapico, Chairman and Chief Executive Officer, and Dalip Puri, Executive Vice President and Chief Financial Officer. During the course of today's call, we will be making forward-looking statements which are subject to change based on various risk factors and uncertainties that may cause actual results to differ significantly from expectations. A detailed discussion of the risk and uncertainties that may affect our future results is contained in AMETEK's filings with the SEC. AMETEK disclaims any intention or obligation to update or revise any forward-looking statements. Any references made on this call to historical results will be on an adjusted basis, excluding after-tax, acquisition-related and tangible amortization, and excluding acquisition-related transaction and integration costs. Reconciliations between GAAP and adjusted measures can be found in our press release and on the investor section of our website. We'll begin today's call with prepared remarks, and then we'll open it up for questions. I'll now turn the meeting over to Dave.

Thank you, Kevin, and good morning, everyone. Emetech delivered superb results in the third quarter with double-digit organic sales growth, outstanding orders growth, robust operating profit, excellent core margin expansion, sizable cash flow generation, and a high quality of earnings that exceeded our expectations. During the quarter, we also announced the closing of the end-of-core instrumentation acquisition. Integration is progressing well and we are excited for the meaningful value creation this acquisition will provide. We also raised our full year sales and earnings guidance to reflect our outstanding results in the quarter and our outlook for the fourth quarter. Turning to our third quarter results. Third quarter sales were a record $2.22 billion, up 17% from the third quarter of 2025. Organic sales were up 10% and acquisitions added seven points to growth. Overall orders were $2.65 billion, up 35% versus the prior year, driven by the continued robust organic orders growth and contributions from Indicor. Organic orders were up 17% in the quarter, with growth remaining broad-based across our businesses. We ended the quarter with a record backlog of $4.54 billion, up 27% from the beginning of the year. Operating income for the quarter was a record $595 million, up an outstanding 20% from the third quarter of 2025. Operating margins were excellent in the quarter at 26.8%, up 60 basis points from the prior year. Core margins were 27.3%, up a very strong 110 basis points compared to the same period of 2025. EBITDA was a record $704 million, up 19% versus the third quarter of 2025, with EBITDA margins and outstanding 31.7%. Free cash flow for the quarter was very strong at a record $527 million, up 26% from the third quarter of 2025. Our free cash flow to net income conversion was also excellent at 124%. Diluted earnings per share were a record $2.21, up 17% versus the third quarter of 2025, and above our guidance range of $2.08 to $2.10 per share. Now I'll share some additional details at the operating group level, starting with the electronic instruments group. EIG delivered exceptional third quarter results with excellent sales and orders growth and strong operating performance. EIG's third quarter sales were a record $1.44 billion, up 16% from the third quarter of 2025. Organic sales were up 9% and acquisitions added seven points to growth. EIG overall orders were up 37% versus the prior year, driven by excellent organic orders growth and contributions from Indicor. Organic orders were up 17% in the quarter with broad-based strength across our EIG businesses. Our process instrumentation, semiconductor, aerospace, and power businesses continue to benefit from the leading position supporting markets with strong secular tailwinds. EIG's third quarter operating income was a record $415 million, up 15% versus the same period of 2025. Core operating margins were 29.5%, up 60 basis points from the prior year. Turning to the electromechanical group, EMG generated outstanding results in the third quarter with exceptional sales growth, continued superb orders growth, and impressive operating performance and core margin expansion. EMG sales in the third quarter were a record, $778 million, up 20% versus the prior year. Organic sales were up double digits for the third straight quarter at 13%, with acquisitions adding approximately seven points to growth. Sales growth in the quarter was well balanced across our aerospace, defense, medtech, and automation businesses. EMG's overall orders were up 31% year over year, driven by contributions from the IndiCor acquisition and 17% organic orders growth. EMG operating income for the third quarter was a record $212 million, up sharply at 29% compared to the third quarter of 2025. EMG's core operating margins were a record 27.5%, a sizable 210 basis point increase versus the prior year. As our third quarter results demonstrate, our businesses are performing exceptionally well and delivering tremendous results. Overall, I'm pleased with how Ametek is positioned today and for the future. Our outstanding portfolio, strong momentum across attractive end markets, disciplined operating model, and value creating acquisition strategy continue to drive our long-term success. I would like to take a few moments to walk through these elements in more detail. We have a strategically constructed portfolio of high quality businesses with leadership positions in attractive niche markets. These businesses provide highly differentiated technologies supporting mission critical applications required for the global infrastructure build out. Through our close relationships with customers and deep domain expertise in niche markets, our solutions are often designed directly into critical applications, creating high barriers to entry and significant switching costs. In recent years, we have further strengthened our portfolio through organic investments and strategic acquisitions, which has increased our exposure to attractive secular growth markets and enhanced our long-term growth opportunities. The breadth of our portfolio also provides significant end-market diversification, limiting reliance on any single customer, technology, or market. We remain exceptionally well positioned and continue to see strong momentum across our markets. Our growth is supported by many strong, powerful secular trends, including investment in AI-related infrastructure, increasing focus on defense and energy security, and strengthening demand across medtech, commercial aerospace, and precision automation. Another important factor driving our strong performance is our proven and disciplined operating model. Our asset-light businesses and global operating capabilities enable us to efficiently manage our cost structure while remaining highly responsive to changing market conditions. We can support growth with moderate capital investments and have consistently and reliably demonstrated our ability to successfully navigate changing economic environments and evolving business cycles. Importantly, the highly differentiated nature of our products and our leadership positions in niche markets enable us to effectively offset inflationary pressures with pricing. These strengths continue to be reflected in our operating performance, excellent margin expansion, and robust cash flow generation. This cash flow supports a proven capital deployment strategy and a world-class acquisition process that continues to create substantial value for Ametek shareholders. The M&A environment remains constructive. Our acquisition pipeline is robust, and we continue to see attractive opportunities that align with our strategic priorities. Overall, we feel confident about the positioning of our businesses and our ability to continue delivering sustainable growth for our shareholders. Alongside these core strategic elements, we remain committed to investing in our businesses to strengthen our competitive position. Continued investments in innovation and new product development help drive our strong organic growth. As evidence of this, new product vitality this year remains strong at 25%. I would like to highlight just one example of how Ametek is supporting critical power infrastructure investments and meeting increasingly complex requirements across demanding industrial, data center, and process control environments. Ametek solid-state controls recently introduced the next generation of its digital process power uninterruptible power supply platform. The DPP Plus builds on prior platforms with enhanced reliability, diagnostics, monitoring, and service capabilities for the most difficult mission-critical applications across power, energy, and broad industrial markets. DPP Plus helps meet more advanced application requirements by combining true online, double conversion, uninterruptible power supply technology with modern digital controls, enhanced communications capabilities, and a Compact Footprint. As customers continue to prioritize power quality, uptime and operational resilience, Solid State Controls is well positioned to address these evolving requirements with its differentiated power solutions. As I have touched on, we were pleased to complete the acquisition of Indicor in the third quarter. As a reminder, Indicor is a portfolio of exceptional industrial technology businesses that provide highly differentiated mission critical solutions to a diverse set of customers across a complimentary set of end markets. Indicor is an excellent fit with Ametek given their mission critical niche market strategy and highly differentiated technology. While our integration process is still in its early stages, we are encouraged by the progress we have made to date. We remain confident in our ability to add meaningful value as the Indicor businesses integrate into the Ametek growth model. I would also like to add that we recently conducted a special Ametek University session specifically designed for our Indicor colleagues in support of their onboarding into Ametek. Ametek University is our flagship three-day leadership development program where we provide colleagues with a deep dive into the key elements of the Ametek growth model, our culture, operating structure, and leadership approach. We also combine the learnings with practical breakout activities and direct exchanges with executive level Emetech leadership. The passion and excitement from the Indicorp colleagues was notable. The program only further strengthened my belief in the quality of the Indicorp businesses and colleagues and the strength of their leadership teams. Moving to our outlook for 2026 in the fourth quarter, we are raising our sales Earnings and cash flow conversion guidance for the year to incorporate our excellent performance in the third quarter, the contributions from the Indicor acquisition, and our positive outlook for the fourth quarter. For 2026, we now expect overall sales to be up mid-teens on a percentage basis, with organic sales now expected to be up high single digits versus 2025. Our diluted earnings per share for the year are now expected to be in the range of with $8.53 to $8.57, up 15% compared to last year's results. This is an increase from our prior four-year guide of $8.20 to $8.30 per diluted share and includes approximately $0.08 of contribution from the Indicor businesses. For the fourth quarter, we anticipate overall sales to be up in the low 20% range with adjusted earnings of $2.26 to $2.30 per share, up 12% to 14% versus the prior year. To summarize, Emetech delivered an exceptional third quarter, reflecting the strength of our businesses and the continued effectiveness of the Emetech growth model. Our outstanding performance highlights the quality of our market-leading portfolio of businesses and our ability to leverage competitive positions to capture opportunities and deliver meaningful value to customers. With mission-critical technology solutions and leadership positions across niche markets, Emitek remains well-positioned to benefit from favorable secular growth trends and to continue generating strong and sustainable long-term value for shareholders. I will now turn the call over to Dalip Puri, who will cover some of the financial details of the quarter. Then we'll be happy to take your questions. Dalip.