What caused IEX's Q2 2024 earnings to miss forecasts?

IDEX's Q2 2024 earnings did not miss forecasts entirely, as the company reported a net income of $141.2 million, which is slightly below the forecasted $2.04 per share. However, the following factors contributed to the variance: 1. **Revenue Decline**: The company's revenue was down year-over-year, with a reported $800.5 million for Q2 2024, compared to $842.3 million in Q2 2023. This decline in revenue likely impacted the net income figures. 2. **Margin Pressure**: The adjusted EBITDA margin decreased by 120 basis points year-over-year to 26%, and the operating income was $161.2 million, down 16.2% year-over-year. These declines in margin and operating income indicate that the company faced challenges in maintaining profitability. 3. **Interest Expenses**: Interest expenses decreased by 28.2% year-over-year to $9.4 million. While this is a positive aspect, it might not have been sufficient to offset the negative impacts of revenue decline and margin pressure. In summary, IDEX's Q2 2024 earnings missed forecasts due to a combination of revenue decline, margin pressure, and interest expenses.