IDEX (IEX) Revenue — Quarter Ended Dec 31, 2023
Revenue in the reported quarter declined compared to both the prior quarter and the same period a year ago. The decrease reflects lower sales volumes as customers continued to reduce inventory levels amid easing supply chain constraints.
Key takeaway
Quarter ended Dec 31, 2023 · FY2023 Q4
Revenue in the reported quarter declined compared to both the prior quarter and the same period a year ago. The decrease reflects lower sales volumes as customers continued to reduce inventory levels amid easing supply chain constraints.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$788.9M
Revenue reported for this quarter.
Quarter-over-quarter
-0.6%
Change from the immediately preceding quarter.
Year-over-year
-2.7%
Change from the comparable year-ago quarter.
Trailing four quarters
$3.3B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Mar 31, 2023 | $845.4M | +12.6% |
| Jun 30, 2023 | $846.2M | +6.3% |
| Sep 30, 2023 | $793.4M | -3.7% |
| Dec 31, 2023 | $788.9M | -2.7% |
Revenue performance
Reported revenue decreased from the immediately preceding quarter and from the same quarter one year earlier. The company noted that sharp volume declines, particularly in the Health & Science Technologies segment, were partly offset by strong price/cost management and operational productivity gains.
Quarterly comparison
Compared with the prior quarter, revenue edged lower, continuing a downward trajectory that began earlier in the year. On a year-over-year basis, revenue also declined, aligning with the broader trend of customer inventory destocking that persisted throughout the second half of the year.
What to watch
Monitor whether customer inventory destocking eases and leads to a recovery in order patterns in the coming periods.