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Mar 31, 2020
IDEX Q1 2020 Earnings Report
IDEX reported a decrease in sales and EPS for Q1 2020, while increasing backlog and expanding gross margins.
Key Takeaways
IDEX Corporation reported a decrease in sales by 4% and EPS by 8% compared to the prior year period. However, the company increased its backlog by $50 million and expanded gross margins. Due to the uncertain impact of the COVID-19 pandemic, IDEX withdrew its prior financial guidance and suspended future guidance for the rest of the year.
Organic orders decreased by 2% and organic sales decreased by 5%.
Backlog increased by $50 million.
Gross margin expanded by 10 basis points.
Company withdrew all prior financial guidance due to COVID-19 uncertainties.
IDEX
IDEX
IDEX Revenue by Segment
Revenue by Segment
Health & Science Technologies Revenue
CapyFin.comFluid & Metering Technologies Revenue
CapyFin.comFire & Safety/Diversified Products Revenue
CapyFin.com Forward Guidance
Due to the uncertain scope and duration of the COVID-19 pandemic, and uncertain timing of a global recovery and economic normalization, the company is unable to estimate the overall impacts on our operations and financial results as we move forward and withdrawing all prior financial guidance and suspending all future financial guidance for the balance of the year.
Positive Outlook
- Company believes it has ample liquidity to fund operations.
- Company believes it can make targeted investments.
- Company believes it can pay its dividend.
- Company is focused on the safety of employees.
- Company is focused on business continuity.
Challenges Ahead
- Company sees material commercial headwinds.
- Company is planning for sales to be down 15 to 25 percent in the second quarter of 2020.
- This will have a significant impact on earnings.
- Uncertain scope and duration of the COVID-19 pandemic.
- Uncertain timing of a global recovery and economic normalization.
Revenue & Expenses
Visualization of income flow from segment revenue to net income