Idex (IEX) Q3 Earnings and Revenues Beat Estimates

Company Performance - Idex reported quarterly earnings of $1.90 per share, exceeding the Zacks Consensus Estimate of $1.89 per share, but down from $2.12 per share a year ago, representing an earnings surprise of 0.53% [1] - The company posted revenues of $798.2 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.92% and showing an increase from $793.4 million year-over-year [2] - Over the last four quarters, Idex has surpassed consensus EPS estimates four times and topped consensus revenue estimates two times [2] Future Outlook - The current consensus EPS estimate for the coming quarter is $2.03 on revenues of $849.16 million, and for the current fiscal year, it is $7.88 on revenues of $3.25 billion [7] - The estimate revisions trend for Idex is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Manufacturing - General Industrial industry, to which Idex belongs, is currently ranked in the bottom 43% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Idex's stock performance [5]