Potential market mover: IDEX Corporation (NYSE: IEX)

On 11 Feb 2020, IDEX Corporation (NYSE: IEX) changed 0.91% to recent value of $176.05. The stock transacted 313393 shares during most recent day however it has an average volume of 402.8K shares. It spotted trading -0.37% off 52-week high price. On the other end, the stock has been noted 26.26% away from the low price over the last 52-weeks.

IDEX Corporation (NYSE: IEX) recently reported its financial results for the three- and twelve- month periods ended December 31, 2019.

Full Year 2019

Orders of $2.5B were flat contrast with the previous year (flat organic, +1 percent acquisition and -1 percent foreign currency translation).

Sales of $2.5B were flat contrast with the previous year (+1 percent organic, +1 percent acquisition and -2 percent foreign currency translation).

Gross margin of 45.1 percent was up 10 basis points contrast with the previous year primarily Because of price capture and productivity initiatives, partially offset by inflation and higher engineering costs. Not Including a $3.3M pre-tax fair value inventory step-up charge related to the Velcora acquisition, adjusted gross margin of 45.2 percent was up 20 basis points.

Operating income of $579.0M resulted in an operating margin of 23.2 percent. Not Including the $3.3M fair value inventory step-up charge and $21.0M of restructuring expenses, adjusted operating income was $603.3M with an adjusted operating margin of 24.2 percent, up 80 basis points from the previous year mainly Because of price, productivity initiatives and lower variable compensation expenses. Adjusted operating income drove adjusted EBITDA of $678.5M which was 27 percent of sales and covered interest expense by over 15 times.

Provision for income taxes of $107.4M resulted in an effective tax rate (ETR) of 20.2 percent, which was lower than the previous year ETR of 22.4 percent primarily Because of excess tax benefits and other discrete tax benefits in 2019 and certain one-time charges related to Tax Reform incurred in 2018.

Net income was $425.5M which resulted in EPS of $5.56. Not Including the fair value inventory step-up charge and restructuring expenses, adjusted EPS of $5.80 increased 39 cents, or 7 percent, from the previous year adjusted EPS.

Cash from operations of $528.1M was up 10 percent from the previous year and led to free cash flow of $477.2M, which was up 13 percent from the previous year and 107 percent of adjusted net income. The increase in free cash flow was primarily Because of working capital improvements and lower capital expenditures.

The Company repurchased 389 thousand shares of ordinary stock for $54.7M in 2019.

IEX has a gross margin of 45.10% and an operating margin of 23.60% while its profit margin remained 17.20% for the last 12 months. Its earnings per share (EPS) expected to touch remained 20.00% for this year while earning per share for the next 5-years is expected to reach at 11.50%.  The company has 75.99M of outstanding shares and 75.81M shares were floated in the market. According to the most recent quarter its current ratio was 3.2 that represents company’s ability to meet its current financial obligations. The price moved ahead of 2.69% from the mean of 20 days, 3.98% from mean of 50 days SMA and performed 7.65% from mean of 200 days price. Company’s performance for the week was 4.12%, 2.31% for month and YTD performance remained 2.35%.

 

James Emmons

James Emmons – Technology and Energy I am James Emmons I have completed my bachelor’s degree in Information Technology and a master’s degree in Business. I love to write about technology. I had three years of writing experience which include articles, web content, and blogs. I always love to play with work, in both my career and education.  I also had teaching experience of 5 years at the renowned university to teach business and technical writing and currently working as an instructor and training writer and designer. I am incredibly social, and I love to travel and explore the world.

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