Research Desk Line-up: Milacron Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 3, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on IDEX Corp. (NYSE: IEX), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=IEX, following the Company's disclosure of its second quarter fiscal 2017 earnings results on July 25, 2017. The manufacturer of the Jaws of Life device and other engineered products outperformed top- and bottom-line expectations and also raised its earnings and organic revenue guidance. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

http://protraderdaily.com/register/

Get more of our free earnings reports coverage from other constituents of the Diversified Machinery industry. Pro-TD has currently selected Milacron Holdings Corp. (NYSE: MCRN) for due-diligence and potential coverage as the Company announced on July 27, 2017, its financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Milacron when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on IEX; also brushing on MCRN. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=IEX

http://protraderdaily.com/optin/?symbol=MCRN

Earnings Reviewed

For the quarter ended June 30, 2017, IDEX reported sales of $573.4 million on Q2 2017, up 4% compared to Q2 2016. The Company's orders jumped 11% on a y-o-y basis to $585.7 million. IDEX's revenue numbers topped analysts' estimates of $568.8 million.

For Q2 2017, IDEX reported a gross margin of 44.8%, up 40-basis point compared to Q2 2016. Excluding the fair value of inventory of $3.6 million from the previous year, the Company's gross margin would have declined by 30-basis-points due to higher engineering investments.

IDEX's operating income totaled $125.1 million, which resulted in operating margin of 21.8%, up 110 basis points compared to Q2 2016. The increase was due to volume leverage, benefits from prior year's restructuring initiatives and the inclusion in the prior year of a net $2.6 million charge related to the fair value inventory step-up and the reversal of a remaining contingent consideration.

For Q2 2017 IDEX reported net income of $83.8 million, or $1.08 per diluted share, compared to net income of $75.76 million, or $0.99 per share, in Q2 2016. The Company's earnings numbers beat Wall Street's estimates of $1.06 per share.

Segment Results

During Q2 2017, IDEX's Fluid & Metering technologies (FMT) segment recorded sales of $221.2 million, flat on a y-o-y basis and up 4% on an organic basis. The segment's operating income was $60.0 million, which resulted in operating margin of 27.1%, an increase of 270 basis point compared to Q2 2016. FMT segment's EBITDA was $65.6 million, resulting in EBITDA margin of 29.6% for the reported quarter, reflecting an increase of 190-basis-point compared to Q2 2016.

IDEX's sales from the Health & Science Technologies (HST) division were $204.4 million in Q2 2017, reflecting a 10% increase on a y-o-y basis. The segment's operating income was $46.3 million, resulting in operating margin of 22.6% for the reported quarter; an increase of 60 basis points on a y-o-y basis. The HST unit recorded EBITDA of $57.4 million in Q2 2017, which resulted in EBITDA margin of 28.1%, down 30-basis-points compared to the year ago same period.

For Q2 2017, UDEX's Fire & Safety/Diversified Products (FSD) division recorded sales of $148.0 million, up 4% on a y-o-y basis. The segment's operating income totaled $37.2 million in the reported quarter, while operating margin was 25.1%, reflecting a gain of 80 basis points compared the year ago same period. FSD recorded EBITDA of $40.3 million, or 27.2% on Q2 2017, an increase of 30-basis-point compared to the year earlier comparable quarter.

Asset management

During Q2 2017, IDEX's cash from operations totaled $87.6 million, which led to free cash flow of $78.2 million, down 2% on a y-o-y basis, driven by higher working capital and income tax payments. The Company's cash from operations for H1 2017 was $172.6 million that lead to free cash flow of $153.0 million up 8% on a y-o-y basis.

During Q2 2017, IDEX repurchased 24,000 shares of common stock for $2.2 million.

Outlook

IDEX stated that based on the positive results from H1 2017, combined with continued order strength, it raised it FY17 adjusted EPS guidance to $4.18 to $4.23, with Q3 2017 EPS is estimated in the range of $1.04 to $1.06. The Company also increased FY17 organic revenue growth expectations to approximately 5%, while organic revenue is expected to grow approximately 6% in Q3 2017.

Stock Performance

At the closing bell, on Wednesday, August 02, 2017, IDEX's stock slightly declined 0.11%, ending the trading session at $115.46. A total volume of 431.95 thousand shares have exchanged hands, which was higher than the 3-month average volume of 394.73 thousand shares. The Company's stock price surged 10.64% in the last three months, 29.05% in the past six months, and 28.72% in the previous twelve months. Moreover, the stock rallied 28.20% since the start of the year. The stock is trading at a PE ratio of 30.98 and has a dividend yield of 1.28%. The stock currently has a market cap of $8.80 billion.

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SOURCE: Pro-Trader Daily