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IDEX’s Fluid & Metering Technologies segment is likely to have benefited from strength in the water and agricultural markets and an improvement in the energy markets. The Zacks Consensus Estimate for gross sales in the Fluid & Metering Technologies segment indicates a 14.7% rise from the year-ago reported quarter. For the third quarter, we expect the Fluid & Metering Technologies segment gross sales to increase 12.1% year over year.
For the Health & Science Technologies segment, solid business in semiconductor, analytical instrumentation, food and pharma markets and life sciences markets are expected to have been beneficial in the quarter. The consensus mark for third-quarter Health & Science Technologies segment gross sales suggests a 7.3% increase from the year-ago reported number. For the third quarter, we expect the Health & Science Technologies segment gross sales to climb 7.4% year over year.
IDEX’s top line is expected to have been boosted by benefits from the acquisition of Nexsight, LLC (March 2022) and KZValve (May 2022). For the third quarter, the company anticipates buyout synergies to boost sales by 5%.
However, supply-chain disruptions and raw material cost inflation are expected to have hampered IEX’s third-quarter performance. Supply-related issues in the fire OEM market are likely to have affected the Fire & Safety/Diversified Products segment’s performance.
Given the company’s substantial international presence, its top line is expected to reflect the impact of adverse foreign currency movements. IEX expects foreign exchange woes to lower its sales by 3% for the third 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 -0.28% as the Most Accurate Estimate is pegged at $2.01, lower than the Zacks Consensus Estimate of $2.02. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: IDEX currently carries a Zacks Rank #3.
Highlights of Q2 Earnings
IDEX’s second-quarter 2022 adjusted earnings of $2.02 per share surpassed the Zacks Consensus Estimate of $1.90. The bottom line increased 25.5% year over year. Net sales of $796 million also outperformed the Zacks Consensus Estimate of $767 million. The top line jumped 16% year over year owing to 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.
Illinois Tool Works (ITW - Free Report) has an Earnings ESP of +0.38% and a Zacks Rank #3. The company is slated to release third-quarter 2022 results on Oct 25.
Illinois Tool’s earnings have surpassed the Zacks Consensus Estimate in three of the preceding four quarters, while missing in one. The average beat was 2.8%.
Emerson Electric Co. (EMR - Free Report) has an Earnings ESP of +1.08% and a Zacks Rank #3. The company is scheduled to release fourth-quarter fiscal 2022 (ended Sep 30, 2022) results on Nov 2.
Emerson’s earnings have surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 6%.
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What's in the Cards for IDEX (IEX) This Earnings Season?
IDEX Corporation (IDEX - Free Report) is scheduled to release third-quarter 2022 results on Oct 25, after market close.
The company’s earnings have surpassed the Zacks Consensus Estimate in three of the past four quarters while missing in one. The average beat was 4.6%.
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
IDEX’s Fluid & Metering Technologies segment is likely to have benefited from strength in the water and agricultural markets and an improvement in the energy markets. The Zacks Consensus Estimate for gross sales in the Fluid & Metering Technologies segment indicates a 14.7% rise from the year-ago reported quarter. For the third quarter, we expect the Fluid & Metering Technologies segment gross sales to increase 12.1% year over year.
For the Health & Science Technologies segment, solid business in semiconductor, analytical instrumentation, food and pharma markets and life sciences markets are expected to have been beneficial in the quarter. The consensus mark for third-quarter Health & Science Technologies segment gross sales suggests a 7.3% increase from the year-ago reported number. For the third quarter, we expect the Health & Science Technologies segment gross sales to climb 7.4% year over year.
IDEX’s top line is expected to have been boosted by benefits from the acquisition of Nexsight, LLC (March 2022) and KZValve (May 2022). For the third quarter, the company anticipates buyout synergies to boost sales by 5%.
However, supply-chain disruptions and raw material cost inflation are expected to have hampered IEX’s third-quarter performance. Supply-related issues in the fire OEM market are likely to have affected the Fire & Safety/Diversified Products segment’s performance.
Given the company’s substantial international presence, its top line is expected to reflect the impact of adverse foreign currency movements. IEX expects foreign exchange woes to lower its sales by 3% for the third 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 -0.28% as the Most Accurate Estimate is pegged at $2.01, lower than the Zacks Consensus Estimate of $2.02. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: IDEX currently carries a Zacks Rank #3.
Highlights of Q2 Earnings
IDEX’s second-quarter 2022 adjusted earnings of $2.02 per share surpassed the Zacks Consensus Estimate of $1.90. The bottom line increased 25.5% year over year. Net sales of $796 million also outperformed the Zacks Consensus Estimate of $767 million. The top line jumped 16% year over year owing to 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.
Illinois Tool Works (ITW - Free Report) has an Earnings ESP of +0.38% and a Zacks Rank #3. The company is slated to release third-quarter 2022 results on Oct 25.
Illinois Tool’s earnings have surpassed the Zacks Consensus Estimate in three of the preceding four quarters, while missing in one. The average beat was 2.8%.
Emerson Electric Co. (EMR - Free Report) has an Earnings ESP of +1.08% and a Zacks Rank #3. The company is scheduled to release fourth-quarter fiscal 2022 (ended Sep 30, 2022) results on Nov 2.
Emerson’s earnings have surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 6%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.