IDEX Corp. Q1 Profit Decreases, but beats estimates

(RTTNews) - IDEX Corp. (IEX) released earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $121.4 million, or $1.60 per share. This compares with $139.8 million, or $1.84 per share, in last year's first quarter.

Excluding items, IDEX Corp. reported adjusted earnings of $143.2 million or $1.88 per share for the period.

Analysts on average had expected the company to earn $1.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.3% to $800.5 million from $845.4 million last year.

IDEX Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $121.4 Mln. vs. $139.8 Mln. last year. -EPS (Q1): $1.60 vs. $1.84 last year. -Revenue (Q1): $800.5 Mln vs. $845.4 Mln last year.

-Guidance: Next quarter EPS guidance: $2.00 - $2.05 Full year EPS guidance: $8.15 - $8.45

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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