IDEX Sees Q4 EPS $1.74-$1.79 Vs $1.82 Est.; FY23 EPS $8.13-$8.18 Vs $7.97 Est.
Portfolio Pulse from Benzinga Newsdesk
IDEX Corporation has provided its Q4 and FY23 earnings per share (EPS) estimates. The company expects Q4 EPS to be between $1.74 and $1.79, lower than the estimated $1.82. For FY23, IDEX anticipates EPS to be between $8.13 and $8.18, higher than the estimated $7.97. The company also projects a 1-2% decline in full year 2023 organic sales and an 8-9% decline in Q4 2023 organic sales compared to the prior year.
October 25, 2023 | 8:34 pm
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NEGATIVE IMPACT
IDEX Corporation's lower than expected Q4 EPS and projected decline in organic sales could negatively impact its stock price. However, the higher than expected FY23 EPS might offset some of this impact.
Lower than expected earnings and declining sales are typically seen as negative indicators for a company's financial health and can lead to a decrease in stock price. However, the higher than expected FY23 EPS indicates that the company might perform better in the long term, which could mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100