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The Zacks Consensus Estimate for second-quarter earnings has remained steady in the past 60 days. The company has an impressive earnings surprise history, having outperformed the consensus estimate in each of the preceding four quarters, the average surprise being 6.3%.
The consensus estimate for revenues is pegged at $830.8 million, indicating a decline of 1.8% from the year-ago quarter’s reported figure. The consensus estimate for adjusted earnings is pinned at $2.04 per share, which indicates a 6.4% decline from the year-ago quarter’s reported number.
Let's see how things have shaped up for IDEX this earnings season.
Factors to Note
Softness in the life sciences, analytical instrumentation and semiconductor markets is expected to have hurt the Health & Science Technologies (“HST”) segment. We expect the HST segment’s revenues to decrease 5.4% year over year to $321.3 million.
Weakness in the industrial markets, owing to non-recurring projects and lower backlog levels, is likely to have weighed on the Fluid & Metering Technologies (“FMT”) segment’s performance. Also, the agricultural businesses continue to be cyclically down, which is expected to have impacted the segment’s performance. We expect the FMT segment’s revenues to decrease 1.5% year over year to $320.4 million.
The increasing cost of sales, due to escalating raw material costs, and rising selling, general and administrative expenses, attributed to higher employee-related costs and discretionary spending, are likely to have dented IEX’s bottom line. We anticipate the company’s operating margin to decline 130 basis points on a year-over-year basis to 22.3%.
However, strong momentum in the fire and safety and Band-It businesses is likely to have supported the Fire & Safety/Diversified Products segment. Strength across the company’s industrial and municipal markets is likely to have been beneficial. We expect the segment’s revenues to increase 0.7% to $186.1 million from the year-ago reported figure.
Also, the STC Material Solutions buyout (December 2023), which expanded the company’s growing expertise in material sciences, is expected to bolster the top-line results.
Our proven model does not conclusively predict an earnings beat for IEX this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as elaborated below.
Earnings ESP: IDEX has an Earnings ESP of +0.10%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: IDEX presently carries a Zacks Rank #4 (Sell).
Stocks to Consider
Here are some companies within the broader Industrial Products sector, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.
The company is slated to release second-quarter 2024 results on Aug 2. Chart Industries’ earnings surpassed the Zacks Consensus Estimate twice in the trailing four quarters and missed the mark twice.
Crane Company (CR - Free Report) has an Earnings ESP of +0.96% and a Zacks Rank of 2, at present. The company is slated to release second-quarter results on Jul 29.
CR’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 15.2%.
Emerson Electric Co. (EMR - Free Report) has an Earnings ESP of +1.12% and a Zacks Rank of 2, at present. The company is scheduled to release second-quarter results on Aug 7.
EMR’s earnings surpassed the Zacks Consensus Estimate thrice in the preceding four quarters while missing the mark once, the average surprise being 10.7%.
Image: Bigstock
IDEX (IEX) to Report Q2 Earnings: What's in the Offing?
IDEX Corporation (IEX - Free Report) is scheduled to release second-quarter 2024 results on Jul 31, after market close.
The Zacks Consensus Estimate for second-quarter earnings has remained steady in the past 60 days. The company has an impressive earnings surprise history, having outperformed the consensus estimate in each of the preceding four quarters, the average surprise being 6.3%.
The consensus estimate for revenues is pegged at $830.8 million, indicating a decline of 1.8% from the year-ago quarter’s reported figure. The consensus estimate for adjusted earnings is pinned at $2.04 per share, which indicates a 6.4% decline from the year-ago quarter’s reported number.
Let's see how things have shaped up for IDEX this earnings season.
Factors to Note
Softness in the life sciences, analytical instrumentation and semiconductor markets is expected to have hurt the Health & Science Technologies (“HST”) segment. We expect the HST segment’s revenues to decrease 5.4% year over year to $321.3 million.
Weakness in the industrial markets, owing to non-recurring projects and lower backlog levels, is likely to have weighed on the Fluid & Metering Technologies (“FMT”) segment’s performance. Also, the agricultural businesses continue to be cyclically down, which is expected to have impacted the segment’s performance. We expect the FMT segment’s revenues to decrease 1.5% year over year to $320.4 million.
The increasing cost of sales, due to escalating raw material costs, and rising selling, general and administrative expenses, attributed to higher employee-related costs and discretionary spending, are likely to have dented IEX’s bottom line. We anticipate the company’s operating margin to decline 130 basis points on a year-over-year basis to 22.3%.
However, strong momentum in the fire and safety and Band-It businesses is likely to have supported the Fire & Safety/Diversified Products segment. Strength across the company’s industrial and municipal markets is likely to have been beneficial. We expect the segment’s revenues to increase 0.7% to $186.1 million from the year-ago reported figure.
Also, the STC Material Solutions buyout (December 2023), which expanded the company’s growing expertise in material sciences, is expected to bolster the top-line results.
IDEX Corporation Price and EPS Surprise
IDEX Corporation price-eps-surprise | IDEX Corporation Quote
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for IEX this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as elaborated below.
Earnings ESP: IDEX has an Earnings ESP of +0.10%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: IDEX presently carries a Zacks Rank #4 (Sell).
Stocks to Consider
Here are some companies within the broader Industrial Products sector, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.
Chart Industries, Inc. (GTLS - Free Report) has an Earnings ESP of +12.52% and a Zacks Rank of 3, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is slated to release second-quarter 2024 results on Aug 2. Chart Industries’ earnings surpassed the Zacks Consensus Estimate twice in the trailing four quarters and missed the mark twice.
Crane Company (CR - Free Report) has an Earnings ESP of +0.96% and a Zacks Rank of 2, at present. The company is slated to release second-quarter results on Jul 29.
CR’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 15.2%.
Emerson Electric Co. (EMR - Free Report) has an Earnings ESP of +1.12% and a Zacks Rank of 2, at present. The company is scheduled to release second-quarter results on Aug 7.
EMR’s earnings surpassed the Zacks Consensus Estimate thrice in the preceding four quarters while missing the mark once, the average surprise being 10.7%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.