Idex's Fourth: quarter profit beats estimates on strong equipments sales

Dover

04/02/2025 22:50

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

 (Reporting by Aishwarya Jain and Nathan Gomes; Editing by
Mohammed Safi Shamsi)
 ((Aishwarya.Jain@thomsonreuters.com;))