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Compared to Estimates, Idex (IEX) Q3 Earnings: A Look at Key Metrics
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For the quarter ended September 2023, Idex (IEX - Free Report) reported revenue of $793.4 million, down 3.7% over the same period last year. EPS came in at $2.12, compared to $2.14 in the year-ago quarter.
The reported revenue represents a surprise of +0.45% over the Zacks Consensus Estimate of $789.88 million. With the consensus EPS estimate being $1.89, the EPS surprise was +12.17%.
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 - Organic impact - YoY change: -6% compared to the -1.9% average estimate based on two analysts.
Net sales- Fluid & Metering Technologies: $301.10 million versus $304.22 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -2.1% change.
Intersegment sales eliminations: -$1.50 million versus the three-analyst average estimate of -$0.58 million. The reported number represents a year-over-year change of +50%.
Net sales- Fire & Safety / Diversified Products: $180.60 million versus the three-analyst average estimate of $173.82 million. The reported number represents a year-over-year change of +4.8%.
Net sales- Health & Science Technologies: $313.20 million compared to the $333.60 million average estimate based on three analysts. The reported number represents a change of -9.2% year over year.
Operating income (loss)- Corporate and Others: -$15.60 million versus -$16.99 million estimated by three analysts on average.
Operating income (loss)- Fire & Safety / Diversified Products: $48.40 million versus the three-analyst average estimate of $44.03 million.
Operating income (loss)- Health & Science Technologies: $54.70 million versus $67.10 million estimated by three analysts on average.
Operating income (loss)- Fluid & Metering Technologies: $92.10 million versus $88.17 million estimated by three analysts on average.
Shares of Idex have returned -5.4% over the past month versus the Zacks S&P 500 composite's -1.6% 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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Compared to Estimates, Idex (IEX) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, Idex (IEX - Free Report) reported revenue of $793.4 million, down 3.7% over the same period last year. EPS came in at $2.12, compared to $2.14 in the year-ago quarter.
The reported revenue represents a surprise of +0.45% over the Zacks Consensus Estimate of $789.88 million. With the consensus EPS estimate being $1.89, the EPS surprise was +12.17%.
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 - Organic impact - YoY change: -6% compared to the -1.9% average estimate based on two analysts.
- Net sales- Fluid & Metering Technologies: $301.10 million versus $304.22 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -2.1% change.
- Intersegment sales eliminations: -$1.50 million versus the three-analyst average estimate of -$0.58 million. The reported number represents a year-over-year change of +50%.
- Net sales- Fire & Safety / Diversified Products: $180.60 million versus the three-analyst average estimate of $173.82 million. The reported number represents a year-over-year change of +4.8%.
- Net sales- Health & Science Technologies: $313.20 million compared to the $333.60 million average estimate based on three analysts. The reported number represents a change of -9.2% year over year.
- Operating income (loss)- Corporate and Others: -$15.60 million versus -$16.99 million estimated by three analysts on average.
- Operating income (loss)- Fire & Safety / Diversified Products: $48.40 million versus the three-analyst average estimate of $44.03 million.
- Operating income (loss)- Health & Science Technologies: $54.70 million versus $67.10 million estimated by three analysts on average.
- Operating income (loss)- Fluid & Metering Technologies: $92.10 million versus $88.17 million estimated by three analysts on average.
View all Key Company Metrics for Idex here>>>Shares of Idex have returned -5.4% over the past month versus the Zacks S&P 500 composite's -1.6% 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.