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The Zacks Consensus Estimate for the company’s fourth-quarter earnings has been revised upward by 0.1% in the past 60 days. The company’s earnings surpassed the Zacks Consensus Estimate in three of the past four quarters while missing in one. The average beat was 5.7%.
Let’s see how IDEX is shaping up this earnings season.
Steady demand in the industrial end market with strength in the energy, mining and infrastructure markets and robust municipal water businesses are likely to have benefited IDEX’s Fluid & Metering Technologies segment. The Zacks Consensus Estimate for gross sales in the Fluid & Metering Technologies segment indicates a 13% rise from the year-ago reported quarter. For the fourth quarter, we expect the Fluid & Metering Technologies segment gross sales to increase 9.6% year over year.
For the Health & Science Technologies segment, solid business in semiconductor, analytical instrumentation, material processing and life sciences markets are expected to have been beneficial in the fourth quarter. The consensus mark for fourth-quarter Health & Science Technologies segment gross sales suggests a 6.1% increase from the year-ago reported number. For the quarter, we expect the Health & Science Technologies segment gross sales to climb 6.7% year over year.
The acquisition of Muon Group (November 2022) and KZValve (May 2022) is expected to have boosted IDEX’s top line in the fourth quarter. For the fourth quarter, the company anticipates buyout synergies to boost sales by 3%.
However, supply-related issues in the fire OEM market are likely to have affected its Fire & Safety/Diversified Products segment’s performance. The Zacks Consensus Estimate for the segment revenues implies a 0.6% decrease from the year-ago reported number. For the fourth quarter, we expect the same to decrease 1.3% year over year.
IEX’s fourth-quarter performance is expected to have been hampered by supply-chain disruptions and raw material cost inflation. Adverse foreign currency movements are expected to have impacted the company’s overseas business revenues.
Earnings Whispers
Our proven model suggests 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 odds of an earnings beat, which is the case here, as elaborated below. You can uncover the best stocks before they’re reported with our Earnings ESP Filter. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: IDEX has an Earnings ESP of +2.96%.
Zacks Rank: IDEX carries a Zacks Rank of 2.
Highlights of Q3 Earnings
IDEX reported impressive third-quarter 2022 results. The company’s earnings surpassed the Zacks Consensus Estimate by 6.5%, whereas sales beat the same by 5.8%. In the reported quarter, IDEX’s adjusted earnings were $2.14 per share, beating the Zacks Consensus Estimate of $2.01. On a year-over-year basis, the bottom line increased 31.3% from the year-ago quarter’s $1.63. Healthy segmental results favorably impacted the quarter’s earnings.
Other Stocks to Consider
Here are some other companies within the broader Industrial Products sector that you may want to consider, as according to our model, these too have the right combination of elements to beat on earnings this reporting cycle.
Caterpillar (CAT - Free Report) has an Earnings ESP of +1.14% and a Zacks Rank of 3. The company is scheduled to release fourth-quarter earnings numbers on Jan 31.
Caterpillar’s earnings have surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 14.7%.
Xylem Inc. (XYL - Free Report) has an Earnings ESP of +2.10% and a Zacks Rank of 3. The company is scheduled to release fourth-quarter 2022 results on Feb 2.
Xylem’s earnings have surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 13.3%.
Illinois Tool Works (ITW - Free Report) has an Earnings ESP of +1.92% and a Zacks Rank of 3. The company is slated to release fourth-quarter 2022 results on Feb 2.
Illinois Tool’s earnings have surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 4.2%.
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IDEX (IEX) to Report Q4 Earnings: What's in the Offing?
IDEX Corporation (IEX - Free Report) is scheduled to release fourth-quarter 2022 results on Jan 31, after the market close.
The Zacks Consensus Estimate for the company’s fourth-quarter earnings has been revised upward by 0.1% in the past 60 days. The company’s earnings surpassed the Zacks Consensus Estimate in three of the past four quarters while missing in one. The average beat was 5.7%.
Let’s see how IDEX is shaping up this earnings season.
IDEX Corporation Price and EPS Surprise
IDEX Corporation price-eps-surprise | IDEX Corporation Quote
Factors to Note
Steady demand in the industrial end market with strength in the energy, mining and infrastructure markets and robust municipal water businesses are likely to have benefited IDEX’s Fluid & Metering Technologies segment. The Zacks Consensus Estimate for gross sales in the Fluid & Metering Technologies segment indicates a 13% rise from the year-ago reported quarter. For the fourth quarter, we expect the Fluid & Metering Technologies segment gross sales to increase 9.6% year over year.
For the Health & Science Technologies segment, solid business in semiconductor, analytical instrumentation, material processing and life sciences markets are expected to have been beneficial in the fourth quarter. The consensus mark for fourth-quarter Health & Science Technologies segment gross sales suggests a 6.1% increase from the year-ago reported number. For the quarter, we expect the Health & Science Technologies segment gross sales to climb 6.7% year over year.
The acquisition of Muon Group (November 2022) and KZValve (May 2022) is expected to have boosted IDEX’s top line in the fourth quarter. For the fourth quarter, the company anticipates buyout synergies to boost sales by 3%.
However, supply-related issues in the fire OEM market are likely to have affected its Fire & Safety/Diversified Products segment’s performance. The Zacks Consensus Estimate for the segment revenues implies a 0.6% decrease from the year-ago reported number. For the fourth quarter, we expect the same to decrease 1.3% year over year.
IEX’s fourth-quarter performance is expected to have been hampered by supply-chain disruptions and raw material cost inflation. Adverse foreign currency movements are expected to have impacted the company’s overseas business revenues.
Earnings Whispers
Our proven model suggests 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 odds of an earnings beat, which is the case here, as elaborated below. You can uncover the best stocks before they’re reported with our Earnings ESP Filter. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: IDEX has an Earnings ESP of +2.96%.
Zacks Rank: IDEX carries a Zacks Rank of 2.
Highlights of Q3 Earnings
IDEX reported impressive third-quarter 2022 results. The company’s earnings surpassed the Zacks Consensus Estimate by 6.5%, whereas sales beat the same by 5.8%. In the reported quarter, IDEX’s adjusted earnings were $2.14 per share, beating the Zacks Consensus Estimate of $2.01. On a year-over-year basis, the bottom line increased 31.3% from the year-ago quarter’s $1.63. Healthy segmental results favorably impacted the quarter’s earnings.
Other Stocks to Consider
Here are some other companies within the broader Industrial Products sector that you may want to consider, as according to our model, these too have the right combination of elements to beat on earnings this reporting cycle.
Caterpillar (CAT - Free Report) has an Earnings ESP of +1.14% and a Zacks Rank of 3. The company is scheduled to release fourth-quarter earnings numbers on Jan 31.
Caterpillar’s earnings have surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 14.7%.
Xylem Inc. (XYL - Free Report) has an Earnings ESP of +2.10% and a Zacks Rank of 3. The company is scheduled to release fourth-quarter 2022 results on Feb 2.
Xylem’s earnings have surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 13.3%.
Illinois Tool Works (ITW - Free Report) has an Earnings ESP of +1.92% and a Zacks Rank of 3. The company is slated to release fourth-quarter 2022 results on Feb 2.
Illinois Tool’s earnings have surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 4.2%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.