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The company’s earnings have surpassed the Zacks Consensus Estimate in two of the preceding four quarters while missing the same in the other two. The average beat was 2.8%.
Let’s see how things are shaping up for IDEX this earnings season.
The Fluid & Metering Technologies segment is likely to have benefited from strength in industrial and improvements in chemical and energy markets. The Zacks Consensus Estimate for second-quarter revenues in the Fluid & Metering Technologies segment indicates a 12.7% rise from the year-ago reported number.
The Health & Science Technologies segment’s performance is expected to have been driven by solid business in semiconductor and life sciences markets and recovery in automotive. The Zacks Consensus Estimate for second-quarter Health & Science Technologies segment revenues suggests a 15.6% increase from the year-ago reported number.
Acquired assets are likely to have boosted IDEX’s top line in the second quarter. The company anticipates buyout synergies to boost sales by 6% for the second quarter. Solid orders, backlog levels and pricing actions are also expected to have driven IEX’s second-quarter performance.
However, supply chain woes and escalating costs might have hurt IDEX’s bottom line in the second quarter. Given the company’s international presence, foreign-currency-related headwinds are likely to have affected its top line in the to-be-reported quarter. The company expects forex woes to lower sales by 2% in the second quarter.
What Does the Zacks Model Say?
Our proven model does not conclusively predict an earnings beat for IDEX this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates, which is not the case here, as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: IDEX has an Earnings ESP of -0.37% as the Most Accurate Estimate is pegged at $1.89, lower than the Zacks Consensus Estimate of $1.90. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: IDEX carries a Zacks Rank #4 (Sell).
Highlights of Q1 Earnings
IDEX’s first-quarter 2022 adjusted earnings of $1.96 per share surpassed the Zacks Consensus Estimate of $1.74. Quarterly revenues of $751.1 million outperformed the Zacks Consensus Estimate of $721 million. Both the top and bottom lines improved year over year owing to strong segmental results, organic sales growth and benefits from acquired assets.
Stocks to Consider
Here are some companies within the broader Industrial Products sector that you may want to consider, as according to our model, these have the right combination of elements to beat on earnings this reporting cycle.
Crane Holdings (CR - Free Report) has an Earnings ESP of +6.98% and a Zacks Rank #2. The company is slated to release second-quarter 2022 financial numbers on Jul 25.
The Zacks Consensus Estimate for Crane Holdings’ second-quarter earnings has been revised upward by 4.1% in the past 60 days. CR’s earnings have surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 22.2%.
Zebra Technologies (ZBRA - Free Report) has an Earnings ESP of +2.15% and a Zacks Rank #3. The company is scheduled to release second-quarter 2022 earnings numbers on Aug 2.
The Zacks Consensus Estimate for Zebra Technologies’ second-quarter earnings has remained steady over the past 60 days. ZBRA’s earnings have trumped the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 8.8%.
MRC Global (MRC - Free Report) has an Earnings ESP of +30.27% and a Zacks Rank #1. The company is set to release second-quarter 2022 results on Aug 8.
The Zacks Consensus Estimate for MRC Global’s second-quarter earnings has been revised upward by 13.6% in the past 60 days. MRC’s earnings have surpassed the Zacks Consensus Estimate in three of the preceding four quarters, while meeting estimates in one. The average surprise was 140.8%.
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IDEX (IEX) to Report Q2 Earnings: What's in the Offing?
IDEX Corporation (IDEX - Free Report) is scheduled to release second-quarter 2022 earnings numbers on Jul 26.
The company’s earnings have surpassed the Zacks Consensus Estimate in two of the preceding four quarters while missing the same in the other two. The average beat was 2.8%.
Let’s see how things are shaping up for IDEX this earnings season.
IDEX Corporation Price and EPS Surprise
IDEX Corporation price-eps-surprise | IDEX Corporation Quote
Factors to Note
The Fluid & Metering Technologies segment is likely to have benefited from strength in industrial and improvements in chemical and energy markets. The Zacks Consensus Estimate for second-quarter revenues in the Fluid & Metering Technologies segment indicates a 12.7% rise from the year-ago reported number.
The Health & Science Technologies segment’s performance is expected to have been driven by solid business in semiconductor and life sciences markets and recovery in automotive. The Zacks Consensus Estimate for second-quarter Health & Science Technologies segment revenues suggests a 15.6% increase from the year-ago reported number.
Acquired assets are likely to have boosted IDEX’s top line in the second quarter. The company anticipates buyout synergies to boost sales by 6% for the second quarter. Solid orders, backlog levels and pricing actions are also expected to have driven IEX’s second-quarter performance.
However, supply chain woes and escalating costs might have hurt IDEX’s bottom line in the second quarter. Given the company’s international presence, foreign-currency-related headwinds are likely to have affected its top line in the to-be-reported quarter. The company expects forex woes to lower sales by 2% in the second quarter.
What Does the Zacks Model Say?
Our proven model does not conclusively predict an earnings beat for IDEX this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates, which is not the case here, as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: IDEX has an Earnings ESP of -0.37% as the Most Accurate Estimate is pegged at $1.89, lower than the Zacks Consensus Estimate of $1.90. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: IDEX carries a Zacks Rank #4 (Sell).
Highlights of Q1 Earnings
IDEX’s first-quarter 2022 adjusted earnings of $1.96 per share surpassed the Zacks Consensus Estimate of $1.74. Quarterly revenues of $751.1 million outperformed the Zacks Consensus Estimate of $721 million. Both the top and bottom lines improved year over year owing to strong segmental results, organic sales growth and benefits from acquired assets.
Stocks to Consider
Here are some companies within the broader Industrial Products sector that you may want to consider, as according to our model, these have the right combination of elements to beat on earnings this reporting cycle.
Crane Holdings (CR - Free Report) has an Earnings ESP of +6.98% and a Zacks Rank #2. The company is slated to release second-quarter 2022 financial numbers on Jul 25.
The Zacks Consensus Estimate for Crane Holdings’ second-quarter earnings has been revised upward by 4.1% in the past 60 days. CR’s earnings have surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 22.2%.
Zebra Technologies (ZBRA - Free Report) has an Earnings ESP of +2.15% and a Zacks Rank #3. The company is scheduled to release second-quarter 2022 earnings numbers on Aug 2.
The Zacks Consensus Estimate for Zebra Technologies’ second-quarter earnings has remained steady over the past 60 days. ZBRA’s earnings have trumped the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 8.8%.
MRC Global (MRC - Free Report) has an Earnings ESP of +30.27% and a Zacks Rank #1. The company is set to release second-quarter 2022 results on Aug 8.
The Zacks Consensus Estimate for MRC Global’s second-quarter earnings has been revised upward by 13.6% in the past 60 days. MRC’s earnings have surpassed the Zacks Consensus Estimate in three of the preceding four quarters, while meeting estimates in one. The average surprise was 140.8%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.