Manufacturing company IDEX (NYSE: IEX) will be reporting results this Wednesday before market hours. Here’s what investors should know.
IDEX beat analysts’ revenue expectations last quarter, reporting revenues of $886.9 million, up 8.9% year on year. It was a strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and full-year EPS guidance beating analysts’ expectations.
Is IDEX a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting IDEX’s revenue to grow 4.6% year on year, slowing from the 7.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. IDEX has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at IDEX’s peers in the industrial machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Gorman-Rupp delivered year-on-year revenue growth of 3.9%, missing analysts’ expectations by 1.5%, and Graco reported revenues up 3.3%, falling short of estimates by 3%. Gorman-Rupp traded up 1.2% following the results while Graco was also up 5.2%.
Read our full analysis of Gorman-Rupp’s results here and Graco’s results here.
In the last year or so, investors have shifted their focus from one macro dynamic to the next (AI disintermediation and AI investment to geopolitical conflict, interest rates, and the health of the wider economy). While some of the industrial machinery stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 3.3% on average over the last month. IDEX’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $239.43 (compared to the current share price of $223.81).
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