IDEX Corp. (IEX) Tops Q1 EPS by 5c, Beats on Revenues; Boosts FY18 EPS Guidance

IDEX Corp. (NYSE: IEX) reported Q1 EPS of $1.29, $0.05 better than the analyst estimate of $1.24. Revenue for the quarter came in at $612.32 million versus the consensus estimate of $601.21 million.

First Quarter 2018 Highlights

• Orders and sales were both up 11 percent overall and 7 percent organically
• Reported operating margin was 22.3 percent with adjusted operating margin of 22.6 percent, up 80 bps
• Reported EPS was $1.27 with adjusted EPS of $1.29, up 25 percent
• Full year adjusted EPS guidance raised to $5.05 to $5.20

We are very pleased with our organic growth over the past several quarters and remain committed to funding the best opportunities across the company. We are steadfast with our capital deployment strategy. M&A is a priority and we continue to have a strong acquisition funnel. Last week, the Board approved raising the dividend 16 percent which takes us towards the high end of our stated goal of distributing 30 to 35 percent of earnings to our shareholders.

Based on our first quarter operating results and continued strength in order rates across the entire portfolio, we are raising our full year EPS and organic revenue guidance. We now expect full year 2018 adjusted EPS of $5.05 to $5.20 with projected second quarter EPS of $1.30 to $1.32, while delivering organic revenue growth of 5 to 6 percent for both the full year and the second quarter.”

GUIDANCE:

IDEX Corp. sees FY2018 EPS of $5.05-$5.20, versus the consensus of $5.11.

For earnings history and earnings-related data on IDEX Corp. (IEX) click here.

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