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IDEX's fourth-quarter profit beats estimates on strong equipments sales
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IDEX's fourth-quarter profit beats estimates on strong equipments sales
Feb 4, 2025 3:09 PM

Feb 4 (Reuters) - Industrial equipment maker IDEX Corp ( IEX )

reported a better-than-expected quarterly profit on

Tuesday, driven by strong sales of its health and science

technology segment products.

Quarterly sales in IDEX's ( IEX ) health and sciences technology

segment, which includes components and equipment used in

clinical diagnostics and drug discovery, as well as in the food

processing and cosmetic manufacturing industries, rose 19.3%.

The rise in demand was led by sellers seeking to replenish

inventories following an extended destocking cycle triggered by

large stockpiles during the COVID-19 pandemic.

Quarterly adjusted earnings per share stood at $2.04,

compared with Wall Street estimates of $2.02, according to data

compiled by LSEG.

Total revenue for the fourth quarter ended Dec. 31 was

$862.9 million, up about 9% from a year earlier. Analysts, on

average, were expecting revenue of $863.8 million in the fourth

quarter.

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