Welcome to our dedicated page for IDEX news (Ticker: IEX), a resource for investors and traders seeking the latest updates and insights on IDEX 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) 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'.
IDEX (NYSE: IEX) announced that its Board of Directors has approved a regular quarterly cash dividend of $0.69 per common share.
The dividend will be paid on July 26, 2024, to shareholders of record as of July 12, 2024.
This marks the 119th consecutive quarterly cash dividend payment by the company.
Chemours (NYSE: CC) has appointed Livingston “Tony” Satterthwaite to its Board of Directors, effective June 12. Tony, currently a Senior VP at Cummins, brings over 35 years of leadership experience. He has held leadership roles at Cummins, including President of Power Generation and COO. Tony will retire from Cummins in September 2024. He also serves on the boards of IDEX , the National Association of Manufacturers, and the Cummins Foundation. Tony holds an MBA from Stanford and a civil engineering degree from Cornell. Chemours’ leadership expresses confidence in Tony’s expertise to drive business growth.
Tony Satterthwaite, Senior Vice President at Cummins (NYSE: CMI), will retire in September 2024 after a 36-year career. Satterthwaite's tenure included significant growth and innovation, particularly in the Power Generation Business. He led several successful product launches and expanded the company's reach internationally. Jennifer Rumsey, CEO, praised his leadership, especially during the COVID-19 pandemic. Satterthwaite also focused on investing in people, building strong leaders within the company. His departure marks the end of an era, having held critical sales, regional, and business leadership roles, and serving on various boards.
IDEX (NYSE:IEX) declared a regular quarterly cash dividend of $0.69 per common share, marking the 118th consecutive regular quarterly cash dividend payment. The dividend will be paid on May 31, 2024, to shareholders of record as of May 17, 2024.
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