IDEX - IEX STOCK NEWS

IDEX (IEX) reported Q4 2024 results with record sales of $863 million, up 9% overall and 3% organically compared to Q4 2023. The company achieved Q4 diluted EPS of $1.62 (up 13%) and adjusted diluted EPS of $2.04 (up 11%).

For full-year 2024, IDEX reported sales of $3.3 billion (flat overall, -2% organically), with diluted EPS of $6.64 (down 15%) and adjusted diluted EPS of $7.89 (down 4%). Operating cash flow was $668 million, representing 132% of net income.

Looking ahead to 2025, IDEX projects organic sales growth of 1-3% for the full year, with GAAP diluted EPS guidance of $6.56-$6.96 and adjusted diluted EPS of $8.10-$8.45. However, Q1 2025 organic sales are expected to decrease 3-4% year-over-year.

IDEX (NYSE:IEX) has announced its upcoming fourth quarter earnings conference call, scheduled for Wednesday, February 5, 2025, at 9:30 a.m. CT. The webcast will feature CEO and President Eric Ashleman and CFO Abhi Khandelwal discussing the company's Q4 financial performance.

IDEX, founded in 1988, is a global manufacturing company with approximately $3.3 billion in annual sales and 8,800 employees worldwide. The company operates more than 50 diverse businesses across 20+ countries, specializing in engineered products and mission-critical components for various sectors including microelectronics, water treatment, satellite communications, healthcare, and emergency rescue equipment.

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.