Manufacturing company IDEX (NYSE:IEX) will be reporting results tomorrow afternoon. Here’s what investors should know.
IDEX missed analysts’ revenue expectations by 2.5% last quarter, reporting revenues of $807.2 million, down 4.6% year on year. It was a slower quarter for the company, with a miss of analysts’ EBITDA and organic revenue estimates.
Is IDEX a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting IDEX’s revenue to be flat year on year at $793.4 million, improving from the 1.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.88 per share.
Heading into earnings, analysts covering the company have mixed opinions about the business, with revenue estimates seeing 3 upward and 3 downward revisions over the last 30 days. IDEX has missed Wall Street’s revenue estimates three times over the last two years.
Looking at IDEX’s peers in the industrial machinery segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Graco’s revenues decreased 3.8% year on year, missing analysts’ expectations by 3.4%, and Snap-on reported flat revenue, topping estimates by 7.8%. Graco’s stock price was unchanged after the resultswhile Snap-on was up 9.4%.
Read our full analysis of Graco’s results here and Snap-on’s results here.
Investors in the industrial machinery segment have had fairly steady hands going into earnings, with share prices down 1.1% on average over the last month. IDEX is down 5.4% during the same time and is heading into earnings with an average analyst price target of $227.46 (compared to the current share price of $202.82).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefitting from the rise of AI, available to you FREE via this link.