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Idex (IEX) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2023, Idex (IEX - Free Report) reported revenue of $845.4 million, up 12.6% over the same period last year. EPS came in at $2.09, compared to $1.96 in the year-ago quarter.
The reported revenue represents a surprise of +3.44% over the Zacks Consensus Estimate of $817.33 million. With the consensus EPS estimate being $2.03, the EPS surprise was +2.96%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Idex performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net sales- Fluid & Metering Technologies: $321.80 million versus $296.68 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +18.3% change.
Intersegment sales eliminations: -$1.80 million versus -$0.96 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +125% change.
Net sales- Fire & Safety / Diversified Products: $174.40 million versus the three-analyst average estimate of $171.78 million. The reported number represents a year-over-year change of +5.9%.
Net sales- Health & Science Technologies: $351 million versus $356.47 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +11.4% change.
Operating income (loss)- Corporate and Others: -$27.70 million compared to the -$24.25 million average estimate based on three analysts.
Operating income (loss)- Fire & Safety / Diversified Products: $46 million versus the three-analyst average estimate of $40.94 million.
Operating income (loss)- Health & Science Technologies: $77.50 million versus the three-analyst average estimate of $86.90 million.
Operating income (loss)- Fluid & Metering Technologies: $96.50 million compared to the $82.36 million average estimate based on three analysts.
Shares of Idex have returned -3.4% over the past month versus the Zacks S&P 500 composite's +2.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Idex (IEX) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2023, Idex (IEX - Free Report) reported revenue of $845.4 million, up 12.6% over the same period last year. EPS came in at $2.09, compared to $1.96 in the year-ago quarter.
The reported revenue represents a surprise of +3.44% over the Zacks Consensus Estimate of $817.33 million. With the consensus EPS estimate being $2.03, the EPS surprise was +2.96%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Idex performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net sales- Fluid & Metering Technologies: $321.80 million versus $296.68 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +18.3% change.
- Intersegment sales eliminations: -$1.80 million versus -$0.96 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +125% change.
- Net sales- Fire & Safety / Diversified Products: $174.40 million versus the three-analyst average estimate of $171.78 million. The reported number represents a year-over-year change of +5.9%.
- Net sales- Health & Science Technologies: $351 million versus $356.47 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +11.4% change.
- Operating income (loss)- Corporate and Others: -$27.70 million compared to the -$24.25 million average estimate based on three analysts.
- Operating income (loss)- Fire & Safety / Diversified Products: $46 million versus the three-analyst average estimate of $40.94 million.
- Operating income (loss)- Health & Science Technologies: $77.50 million versus the three-analyst average estimate of $86.90 million.
- Operating income (loss)- Fluid & Metering Technologies: $96.50 million compared to the $82.36 million average estimate based on three analysts.
View all Key Company Metrics for Idex here>>>Shares of Idex have returned -3.4% over the past month versus the Zacks S&P 500 composite's +2.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.