Why IDEX Shares Are Trading Lower Today

IDEX IEX shares are trading lower after the company reported Q4 results and issued Q1 adjusted EPS guidance below estimates.

IDEX reported quarterly earnings of $2.01 per share which beat the analyst consensus estimate of $1.97 by 2.03 percent. This is a 29.68 percent increase over earnings of $1.55 per share from the same period last year.

The company reported quarterly sales of $810.70 million which beat the analyst consensus estimate of $773.14 million by 4.86 percent. This is a 13.42 percent increase over sales of $714.80 million the same period last year.

The company expects 2023 Q1 adjusted EPS to be between $1.98 to $2.03, versus analyst estimates of $2.11 and full year 2023 adjusted EPS to be between $8.50 to $8.80, versus analyst estimates of $8.09.

IDEX makes thousands of products and mission-critical components that improve everyday life all around you.

IEX Price Action: IDEX has a 52-week high of $246.23 and a 52-week low of $172.185.

IDEX shares are down 5.39% at $226.76 at time of publication, according to Benzinga Pro.