IDEX Corp

IEX: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$674.00	Qrbn	Pgjsxqtmp

Idex Earnings: Full-Year Guidance Lowered Because of Macroeconomic Headwinds

Krzysztof Smalec

Aug 1, 2024

We are lowering our fair value estimate for narrow-moat-rated Idex to $214 per share from $220 after the firm reported second-quarter earnings. Although adjusted earnings per share of $2.06 came in above the $2.00-$2.05 guidance range, management cut its full-year outlook because of macroeconomic headwinds. The fair value adjustment reflects our more muted near-term revenue growth and operating margin projections, partially offset by the time value of money.

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