IDEX Corp. (IEX) Tops Q1 EPS by 8c; Lifts FY EPS Outlook

IDEX Corp. (NYSE: IEX) reported Q1 EPS of $0.89, $0.08 better than the analyst estimate of $0.81. Revenue for the quarter came in at $502.6 million versus the consensus estimate of $492.55 million.

GUIDANCE:

IDEX Corp. sees Q2 2016 EPS of $0.91-$0.93, versus the consensus of $0.93.

IDEX Corp. sees FY2016 EPS of $3.70-$3.75, versus the consensus of $3.66.

“IDEX continues to perform well in a challenged macroeconomic growth environment. During the first quarter we built $23 million of backlog, generated operating margin of 20.4 percent and delivered EPS of 89 cents. We remain committed to our capital deployment plan of long-term organic growth investments, disciplined M&A, opportunistic share repurchases and returning capital to shareholders. In the first quarter, we delivered on this value creation model by acquiring Akron Brass, increasing the quarterly shareholder dividend by six percent and repurchasing $46 million of common stock at an average price of $72.86 per share."

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

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