Welcome to our dedicated page for IDEX Corporation news (Ticker: IEX), a resource for investors and traders seeking the latest updates and insights on IDEX Corporation stock.
IDEX Corporation (NYSE: IEX) is an integral part of many aspects of modern life. Headquartered in Lake Forest, Illinois, IDEX specializes in manufacturing mission-critical components and systems such as pumps, flow meters, valves, and fluidic systems. These products play essential roles in various industries, including industrial, fire and safety, life sciences, and water management.
Organized into three primary segments—Fluid and Metering Technologies, Health and Science Technologies, and Fire and Safety and Diversified Products—IDEX operates manufacturing facilities in over 20 countries and employs more than 7,000 people. In 2023, the company generated an impressive $3.3 billion in revenue.
IDEX's versatile product offerings include the Band-It® clamp, which can be found in the airbags of many vehicles, and the Hurst Jaws of Life® rescue tool, often used in critical emergency scenarios. Their contributions to the life sciences are noteworthy as well; IDEX's health and science division produces components used in DNA testing equipment. This technology aids doctors in selecting targeted treatments for conditions such as cancer.
Recently, IDEX acquired STC Material Solutions, an advanced materials manufacturer specializing in aerospace, defense, medical, and semiconductor markets. This acquisition underscores IDEX's commitment to expanding its technological capabilities and market reach.
Founded in 1988 with just three small manufacturing companies, IDEX has grown into a global leader with over 50 businesses under its umbrella. The company's high-performing, diverse operations are dedicated to producing trusted solutions that have a meaningful impact on people's lives.
For more information, visit the official IDEX website at www.idexcorp.com.
IDEX (NYSE:IEX) has announced its Board of Directors' approval of a regular quarterly cash dividend of $0.69 per common share. The dividend will be paid on January 31, 2025, to shareholders of record as of January 17, 2025. This marks the company's 121st consecutive regular quarterly cash dividend payment, demonstrating a consistent track record of shareholder returns.
IDEX (NYSE: IEX) reported Q3 2024 results with sales of $798 million, up 1% overall and flat organically compared to Q3 2023. The company reported diluted EPS of $1.57, down 43%, and adjusted diluted EPS of $1.90, down 10%. Operating cash flow was $205 million, down 9%. The company completed the acquisition of Mott for $986.2 million and issued $500 million in Senior Notes.
For full-year 2024, IDEX revised its outlook, projecting organic sales decline of 1-2% and adjusted diluted EPS of $7.85-$7.90, compared to previous guidance of $7.80-$7.90. GAAP diluted EPS guidance was lowered to $6.65-$6.70 from $6.85-$6.95.
IDEX (NYSE:IEX) has announced the webcast of its third quarter 2024 earnings conference call on Wednesday, October 30, 2024 at 9:30 a.m. CT. CEO Eric Ashleman and CFO Abhi Khandelwal will discuss the company's financial performance and answer questions. Investors can access the call and presentation slides at https://investors.idexcorp.com/events. An archive and audio replay will be available until November 30, 2024.
IDEX designs and manufactures engineered products and mission-critical components across various industries, including electronics, water treatment, healthcare, and fire and rescue. With approximately $3.3 billion in annual sales, IDEX operates globally with about 8,800 employees and manufacturing facilities in over 20 countries.
IDEX (NYSE:IEX) has announced a regular quarterly cash dividend of $0.69 per common share. The dividend will be paid on October 25, 2024 to shareholders of record as of October 11, 2024. This marks the company's 120th consecutive regular quarterly cash dividend payment, demonstrating a consistent track record of returning value to shareholders. The announcement reflects IDEX's commitment to maintaining a stable dividend policy and suggests confidence in the company's financial stability and cash flow generation capabilities.
IDEX (NYSE: IEX) has completed its acquisition of Mott , a leader in sintered porous material structures and flow control solutions. This strategic move expands IDEX's applied material science technology capabilities in high-value end markets. As part of IDEX's Health & Science Technologies segment, Mott is expected to:
- Enhance delivery of innovative, customized micro-precision solutions
- Increase opportunities in semiconductor, energy transition, medical technologies, space & defense, and water purification industries
- Complement recent integrations of Muon Group, Iridian Spectral Technologies, and STC Material Solutions
- Drive value creation through 8020 and IDEX Operating Model implementation
The acquisition aligns with IDEX's strategy to deliver long-term, compounding value to customers, employees, and shareholders.
Amprius Technologies (NYSE: AMPX), a leader in next-generation lithium-ion batteries, has appointed Tony Satterthwaite as an independent director to its Board of Directors, effective August 13, 2024. Satterthwaite, a transportation industry veteran with over 30 years of global power generation experience, will also join the Board's Compensation Committee. He brings valuable expertise in building brands and addressing customer needs across power generation, EV, and broader transportation markets.
Satterthwaite is currently a Senior Vice President at Cummins, Inc. and serves on the boards of IDEX , The Chemours Company, and the National Association of Manufacturers. This appointment follows his election to Amprius' Advisory Council in September 2023. Concurrently, Mary Gustanski has stepped down from the Amprius Board, effective August 12, 2024. The board will maintain seven directors, with six being independent.
IDEX (NYSE: IEX) has announced the pricing of its public offering of $500 million principal amount of 4.950% Senior Notes due 2029. The notes will be unsecured senior obligations ranking equally with IDEX's existing and future senior indebtedness. The offering is expected to close on August 21, 2024, subject to customary conditions. IDEX estimates net proceeds of approximately $495.0 million after deducting underwriting discounts, commissions, and estimated expenses.
The company plans to use the proceeds, along with available revolving credit facility borrowings and cash on hand, to fund the cash consideration for its previously announced acquisition of Mott and its subsidiaries, as well as to pay related fees and expenses. Wells Fargo Securities, BofA Securities, and J.P. Morgan Securities are acting as joint book-running managers for the offering.
IDEX (NYSE: IEX) reported its Q2 2024 financial results, showing a 5% decrease in sales to $807 million and a 2% increase in reported diluted EPS to $1.86. The company revised its full-year outlook, projecting an organic sales decline of 1% to 2% and adjusting its GAAP diluted EPS guidance to $6.85 - $6.95. Despite macro headwinds, IDEX expanded margins sequentially and maintained strong execution. The company announced plans to acquire Mott for $1.0 billion and divested Alfa Valvole Srl for $45.5 million. Segment performance varied, with Health & Science Technologies experiencing the most significant decline in organic sales at 11%.
IDEX (NYSE: IEX) has announced a definitive agreement to acquire Mott for $1 billion in cash, with a net transaction value of approximately $900 million after tax benefits. Mott specializes in sintered porous material structures and flow control solutions, serving high-value markets such as semiconductors, energy, and water purification.
The acquisition is expected to:
- Expand IDEX's applied material science technologies portfolio
- Enhance capabilities in delivering customized micro-precision solutions
- Increase opportunities in key industries
- Drive near- and long-term value creation through 80/20 implementation
The transaction is anticipated to close by the end of Q3 2024 and be accretive to adjusted earnings per share in fiscal year 2026.
IDEX (NYSE: IEX) has announced the webcast of its second quarter earnings call scheduled for August 1, 2024, at 9:30 a.m. CT. CEO Eric Ashleman and CFO Abhi Khandelwal will discuss the financial performance of Q2 2024 and address questions from the financial community. Investors can access the live call and presentation slides on IDEX's official website. A replay will be available until September 1, 2024. IDEX , known for its diverse range of products including Viking internal gear pumps and Hurst Jaws of Life, operates over 50 businesses globally with $3.3 billion in annual sales. The company's stock trades on the NYSE under the symbol 'IEX'.
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