IDEX Earnings: Everything You Must Know Now

IDEX Corporation (NYSE:IEX) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.

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IDEX Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 12.12% to $0.74 in the quarter versus EPS of $0.66 in the year-earlier quarter.

Revenue: Rose 1.02% to $494.4 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: IDEX Corporation reported adjusted EPS income of $0.74 per share. By that measure, the company beat the mean analyst estimate of $0.72. It missed the average revenue estimate of $506.43 million.

Quoting Management: “Excellent operating income growth, margin improvement and cash generation marked IDEX’s first quarter of 2013. As anticipated, orders proved a tough year-over-year comparison due to the large dispensing replenishment project in 2012. Orders decreased 3 percent year-over-year, but were up 7 percent sequentially, and we built over $20 million of backlog during the quarter. I am pleased with our ability to execute and deliver a 90 basis point improvement in operating margin and a 12 percent increase in EPS. The expected benefits from the recently completed restructuring and structural cost actions are being realized in our financials,” said Andrew K. Silvernail, Chairman and Chief Executive Officer.

Key Stats (on next page)…

Revenue increased 0.73% from $490.84 million in the previous quarter. EPS increased 7.25% from $0.69 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.74 and has not changed. For the current year, the average estimate has moved down from a profit of $2.96 to a profit of $2.93 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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