Idex: 2Q Earnings Snapshot
LAKE FOREST, Ill. (AP) _ IDEX Corp. (IEX) on Thursday reported second-quarter net income of $113.2 million.
On a per-share basis, the Lake Forest, Illinois-based company said it had profit of $1.48. Earnings, adjusted for restructuring costs, were $1.50 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.49 per share.
The maker of the Jaws of Life device and other engineered products posted revenue of $642.1 million in the period, which missed Street forecasts. Seven analysts surveyed by Zacks expected $657.5 million.
Idex shares have increased 31% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $165.09, a rise of 11% in the last 12 months.