IDEX Q4 2019 Earnings Report
Key Takeaways
IDEX Corporation reported a slight decrease in sales for the fourth quarter of 2019, with a corresponding decrease in gross margin. Operating income also decreased, but adjusted operating income remained flat compared to the prior year period. The company executed a restructuring plan to mitigate the impact of market softness, and announced an agreement to acquire Flow Management Devices LLC.
Orders increased 1% while sales decreased 1% compared to the prior year period.
Adjusted EPS increased 2% from the prior year period.
The company executed a restructuring plan which will provide $15 million of savings in 2020.
IDEX announced a definitive agreement to acquire Flow Management Devices LLC (Flow MD).
IDEX
IDEX
IDEX Revenue by Segment
Forward Guidance
The company projects flat to 2 percent organic sales decline for the year, with a 4 to 5 percent organic sales decline in the first quarter. Full year 2020 EPS is projected to be $5.55 to $5.85, with first quarter EPS of $1.30 to $1.34.
Revenue & Expenses
Visualization of income flow from segment revenue to net income