- Idex’s adjusted EPS for Q2 2024 is $2.06, exceeding the estimate of $2.04.
- Net sales reached $807.2 million, slightly below the estimate of $827.4 million.
- Fluid & Metering Technologies reported net sales of $319.4 million, falling short of the $323.5 million estimate.
- Health & Science Technologies achieved net sales of $303.8 million.
- Fire & Safety/Diversified Products net sales stood at $185.4 million, close to the estimate of $185.8 million.
- Adjusted EBITDA was $224.2 million, missing the $229.2 million estimate.
- Fluid & Metering Technologies reported an adjusted EBITDA of $107.7 million.
- Health & Science Technologies posted an adjusted EBITDA of $84.2 million.
- Fire & Safety/Diversified Products exceeded expectations with adjusted EBITDA of $53.8 million, against an estimate of $50.5 million.
- Adjusted gross margin came in at 45.4%, beating the 44.6% estimate.
- Full-year organic sales growth is now projected to decline by 1% to 2%, down from previous guidance of 0% to 2% growth.
- Full-year GAAP diluted EPS is forecasted to be between $6.85 and $6.95, with adjusted EPS expected to be between $7.80 and $7.90. This is a reduction from the prior guidance of $7.13 – $7.43 (GAAP) and $8.15 – $8.45 (adjusted).
- Third quarter organic sales are projected to grow by 0% to 1% compared to the same period last year.
- CEO Eric D. Ashleman noted that despite economic uncertainties, IDEX teams managed to improve margins sequentially in the second quarter.
- Analyst consensus includes 8 buy ratings, 7 hold ratings, and no sell ratings for IDEX.
Idex Corp on Smartkarma
Idex Corp is receiving positive analyst coverage on Smartkarma from Baptista Research. In their report titled “IDEX Corporation: Increasing End Market Demand Driving Organic Growth! – Major Drivers,” Baptista Research highlights IDEX Corporation’s performance in Q1 2024. Despite mixed financial results due to various factors, the company demonstrated strong results in its Fluid & Metering Technologies and Fire & Safety/Diversified Products businesses. This showcases IDEX’s core execution capabilities and its ability to adapt in challenging market conditions, making it an attractive investment option.
A look at Idex Corp Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 2.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on Smartkarma Smart Scores, Idex Corp has a positive long-term outlook overall. The company scores high in Growth, Resilience, and Momentum, indicating strong potential for future expansion and stability. With a score of 4 in Growth, Idex Corp is likely to continue growing steadily in the coming years, showcasing promising prospects for investors.
Additionally, the company’s score of 3 in Resilience suggests that Idex Corp is well-equipped to weather economic challenges and uncertainties. This resilience factor, combined with a Momentum score of 3, indicates that the company is on a positive trajectory. While Value and Dividend scores are lower, the strengths in Growth, Resilience, and Momentum position Idex Corp favorably for long-term success.
Summary of the company: IDEX Corporation is a company that specializes in designing, manufacturing, and marketing various pump products, dispensing equipment, and engineered products. Its product range includes industrial pumps, lubrication systems, banding and clamping devices, and rescue tools. Serving customers in the United States and abroad, Idex Corp exhibits a diversified portfolio of offerings in the engineering sector.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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