IDEX Expects 2024 Organic Sales Growth To Be 0%-2%, Adjusted EPS Of $8.15-$8.45 (Est. $8.41); Q1 Organic Sales To Decline 6%-7%, Adjusted EPS Of $1.70-$1.75 (Est. $2.04)
Portfolio Pulse from Benzinga Newsdesk
IDEX Corporation projects its 2024 organic sales growth to range between 0% and 2%, with an adjusted EPS of $8.15-$8.45, closely aligning with the estimated $8.41. For Q1, the company anticipates a 6%-7% decline in organic sales and an adjusted EPS of $1.70-$1.75, which is below the estimated $2.04.
February 06, 2024 | 9:37 pm
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NEGATIVE IMPACT
IDEX Corporation expects a modest organic sales growth in 2024 and an adjusted EPS close to estimates, but forecasts a decline in Q1 organic sales with an adjusted EPS below expectations.
The projection of a 6%-7% decline in Q1 organic sales and an adjusted EPS below the estimated value for Q1 indicates potential short-term negative sentiment among investors, likely leading to a decrease in stock price. However, the close alignment of the 2024 adjusted EPS projection with estimates may mitigate some negative impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100