The 10-second takeaway
For the quarter ended March 31 (Q1), IDEX beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue improved and GAAP earnings per share grew.
Margins dropped across the board.
IDEX chalked up revenue of $489.4 million. The 11 analysts polled by S&P Capital IQ expected a top line of $483.4 million on the same basis. GAAP reported sales were 15% higher than the prior-year quarter's $427.1 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $0.66. The 12 earnings estimates compiled by S&P Capital IQ averaged $0.64 per share on the same basis. GAAP EPS of $0.62 for Q1 were 8.8% higher than the prior-year quarter's $0.57 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 41.5%, 60 basis points worse than the prior-year quarter. Operating margin was 18.3%, 50 basis points worse than the prior-year quarter. Net margin was 10.7%, 50 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $507.6 million. On the bottom line, the average EPS estimate is $0.70.
Next year's average estimate for revenue is $2.01 billion. The average EPS estimate is $2.79.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 89 members out of 94 rating the stock outperform, and five members rating it underperform. Among 36 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 36 give IDEX a green thumbs-up.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on IDEX is outperform, with an average price target of $49.09.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.