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.
In Q1 2023, IDEX Corporation reported record sales of $845 million, up 13% year-over-year, with organic growth of 6%. Earnings per share (EPS) rose to $1.84, a 1% increase, and adjusted EPS was $2.09, up 7%. Operating cash flow surged by 86% to $148 million, and free cash flow reached $121 million, up 91%. Despite strong overall performance, the company anticipates a negative revenue growth outlook for its Health & Science Technologies segment due to prolonged inventory correction, prompting a revision in 2023 adjusted EPS guidance to $8.25 to $8.55.
IDEX announced plans to acquire Iridian Spectral Technologies for 150 million Canadian dollars, enhancing its optical filters portfolio. Overall, the Q1 results reflect resilience amidst challenges, particularly in the HST segment.
IDEX Corporation (NYSE:IEX) has agreed to acquire Iridian Spectral Technologies for 150 million Canadian dollars, enhancing its optical coating capabilities. This strategic acquisition aims to bolster IDEX's product portfolio in optical filters, positioning the company to compete more effectively in key markets, including laser communications and life sciences. Iridian, expected to generate CAD 36 million in sales for the fiscal year 2023 with an EBITDA margin in the low 30s, will become part of IDEX's Health & Science segment. The acquisition is set to close later this quarter, pending customary conditions. CEO Eric Ashleman emphasized that this move aligns with IDEX's strategic growth plan.
IDEX Corporation (NYSE:IEX) has announced its upcoming first-quarter earnings conference call scheduled for April 27, 2023, at 9:30 a.m. CT. CEO Eric Ashleman and CFO William Grogan will present the financial results and address questions from analysts. The conference call can be accessed via the company's website, where presentation slides will also be available. An audio replay of the call will be offered until May 27, 2023. IDEX, a global firm with over $3 billion in annual sales, operates with nearly 9,000 employees across more than 20 countries, providing mission-critical components for various industries.
IDEX Corporation (NYSE: IEX) reported strong financial results for Q4 2022 and the full year, achieving record reported EPS of $7.71, up 31%, and adjusted EPS of $8.12, up 18%. Q4 sales reached $810.7 million, a 13% increase year-over-year, with overall orders totaling $803.4 million, up 1%. However, the net income margin decreased to 16.0%, down 60 basis points, influenced by increased costs from acquisitions and employee-related expenses. The company expects organic sales growth of 1-5% in FY 2023 and Q1 EPS guidance between $1.74 and $1.79, reflecting anticipated challenges from shipment delays and share-based compensation adjustments.
IDEX Corporation (NYSE:IEX) has scheduled its fourth quarter earnings conference call for February 1, 2023, at 9:30 a.m. CT. CEO Eric Ashleman and CFO William Grogan will discuss the company’s financial performance for Q4 and the full year 2022, followed by a Q&A session. Interested investors can listen live and view presentation slides on the company’s website. An archive of the call will be available afterward, with an audio replay accessible until March 1, 2023.
IDEX Corporation (NYSE:IEX) has completed the acquisition of Muon B.V., a micro-precision technology manufacturer based in the Netherlands. Muon specializes in creating precise flow paths for various industries, including medical technologies and semiconductor manufacturing. IDEX believes this acquisition aligns well with their mission-critical solutions and organizational values. The Muon Group will be integrated into IDEX's Health & Science Technology segment, providing new growth opportunities and synergies in precision-engineering applications.
IDEX Corporation (NYSE:IEX) has announced a quarterly cash dividend of $0.60 per common share, set to be paid on January 27, 2023, to shareholders of record as of January 13, 2023. This marks the company's 113th consecutive quarterly cash dividend payment. IDEX operates over 45 businesses globally, reporting nearly $2.8 billion in annual sales and employing more than 8,000 staff across more than 20 countries.
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