2024-07-10 23:29:10 ET
Summary
- IDEX Corporation's revenue grew slightly in 2024, but profitability weakened due to a drop in sales and rising costs.
- Management remains optimistic about organic revenue growth and adjusted net income for the year.
- Despite being a high-quality business, IDEX Corporation's shares are not attractively priced, making it a better 'hold' than a 'buy' prospect.
Over a year ago, in early May of 2023, I wrote an article about an interesting firm by the name of IDEX Corporation ( IEX ). For those not familiar with the enterprise, it is a business with a market capitalization of $15.07 billion. Management has built up the company over the years by focusing on highly engineered products such as the production of fluid and metering technologies, products in the health and science fields, fire and safety products, and more. Much of the business even centers around the sale of pumps, ceiling solutions, and similar offerings....
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IDEX Corp.: There Are Better Opportunities Out There