Follow Us "IDEX Corp Stock Tumbles On Weaker Than Expected Q4 Revenue, Q1 Projections: Retail Sentiment Sours")
The firm expects first-quarter adjusted diluted EPS of $1.60 to $1.65, falling short of a Wall Street estimate of $2, according to FinChat.
Shares of IDEX Corp, which designs and builds engineered products and mission-critical components, tumbled nearly 10% on Wednesday after the firm’s fourth-quarter revenue and first-quarter guidance fell short of Wall Street estimates.
Net sales rose over 9% year-over-year (YoY) to $862.9 million but fell short of an analyst estimate of $866.07 million. This was primarily driven by the net impact of acquisitions and divestitures, as the newly acquired Mott Corporation delivered a significant project, and substantial price capture was realized across all segments.
Earnings per share (EPS) stood at $2.04 versus Wall Street’s expectations of $2.03. Net income rose 13% YoY to $123.2 million during the quarter.
The firm expects first-quarter adjusted diluted EPS of $1.60 to $1.65 falling short of a Wall Street estimate of $2, according to FinChat. Full-year adjusted diluted EPS is expected at $8.10 to $8.45 versus a projection of $8.32.
CEO Eric D. Ashleman expressed optimism about the continued pattern of strong organic order growth in the firm’s Health & Science Technologies segment while noting that the Fluid & Metering Technologies teams drove modest order, sales, and profitability growth.
“We face a fair amount of geopolitical and economic uncertainty as we head into 2025. However, we continue to have conviction in the underlying strength of our target markets and the ability of our teams to collaborate across businesses to drive organic and inorganic growth,” he said.
On Stocktwits, retail sentiment dipped into the ‘neutral’ territory (50/100) from ‘extremely bullish’ a day ago.
According to TheFly, Citi recently lowered its price target on Idex Corp. to $267 from $269 while keeping a ‘Buy’ rating on the shares.
Idex Corp shares have lost nearly 3% this year and are down over 8% over the past year.
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