IDEX Corp. (IEX) announced third quarter net income of $29.8 million or $0.37 per share, compared to $19.9 million or $0.24 per share in the same period last year. Excluding the impact of restructuring related charges, third quarter adjusted earnings per share was $0.39.
On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $0.35 per share. Analysts' estimates typically exclude special items.
Net sales for the period were $323.2 million, compared to $365.2 million in the prior year period. Eight Wall Street analysts expected revenues of $323.57 million.
Looking forward, for the fourth quarter, the company expects earnings per share in the range of $0.35 to $0.37. Street analysts expect earnings of $0.36 per share.
For the full year, the company still expects organic revenue to decline approximately 15%. Adjusted earnings per share are now estimated to range from $1.44 to $1.46, compared to its earlier forecast in the range of $1.35 to $1.45. Street analysts expect earnings of $1.41 per share.
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