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 Corporation (NYSE:IEX) has completed its acquisition of KZValve, LLC, enhancing its capabilities in agricultural and industrial fluid management solutions.
This acquisition strengthens IDEX's offerings, particularly in precision farming components, including waterproof motorized valves and controllers. CEO Eric Ashleman emphasized that this move aligns with IDEX's growth strategy, aiming to invest in innovative businesses to support efficient crop production.
KZValve now operates within IDEX’s Agriculture group, part of the Fluid & Metering Technologies segment.
IDEX Corporation (NYSE: IEX) reported a strong performance for Q1 2022, with record earnings per share (EPS) of $1.83, up 24% year-over-year. Adjusted EPS rose to $1.96, marking a 21% increase. The company achieved record orders of $856 million, a 20% rise overall, and record sales of $751 million, reflecting a 15% increase. Operating margin improved to 25.0%, a 110 basis point increase. IDEX acquired Nexsight, LLC, on February 28, and plans to acquire KZValve for $120 million. They forecast organic sales growth of 6-8% for 2022, with expected EPS between $6.87 and $7.00.
IDEX Corporation (NYSE:IEX) announced its acquisition of KZ CO. (KZValve), a manufacturer of electric valves and controllers primarily for agriculture. Founded in 1976, KZValve is known for its innovative agricultural components and has projected sales of $28 million for FY2022. This acquisition aims to enhance IDEX's agricultural product offerings and expand its market reach within the agricultural segment of its Fluid & Metering Technologies group. The deal is expected to close in Q2 FY2022, pending regulatory approvals.
IDEX Corporation (NYSE:IEX) will host its first quarter earnings conference call on April 27, 2022, at 9:30 a.m. CT. CEO Eric Ashleman and CFO William Grogan will discuss the company's Q1 financial performance and answer questions from investors. The call can be accessed via the company's website, along with presentation slides. An archive of the call will be available post-event, with an audio replay accessible until May 27, 2022.
IDEX, a global company with nearly $2.8 billion in sales, operates over 45 diverse businesses worldwide.
IDEX Corporation (NYSE:IEX) has successfully acquired Nexsight, LLC, enhancing its water business offerings. This acquisition includes leading brands such as Envirosight and WinCan, which improve IDEX's capabilities in wastewater infrastructure inspection and monitoring. CEO Eric Ashleman emphasized that this strategic move aims to diversify and strengthen IDEX's product solutions, aiding in early detection of wastewater issues, thereby benefiting clients and public health. IDEX's growth strategy involves investments in companies that align with its operational strengths.
IDEX Corporation (NYSE:IEX) announced the appointment of Paris Watts-Stanfield to its Board of Directors, effective February 25, 2022, increasing the board size to 11 members. Ms. Watts-Stanfield, currently CFO of Greater China at Medtronic, brings significant experience in corporate finance and audit roles. She will also serve on the Audit Committee. Leadership emphasized her global business skills and alignment with IDEX's mission to enhance value and growth.
IDEX Corporation (NYSE: IEX) reported record financial results for 2021, with reported EPS of $5.88, a 19% increase, and adjusted EPS of $6.30, up 21%. Full-year sales reached $2.8 billion, reflecting an 18% rise overall and 12% organically. The company also announced a strategic acquisition of Nexsight, LLC for $120 million. Despite strong growth projections for 2022, IDEX anticipates ongoing challenges from supply chain issues and COVID-19 impacting production capacity.
IDEX Corporation (NYSE:IEX) has scheduled its fourth quarter earnings conference call for February 2, 2022, at 9:30 a.m. CT. CEO Eric Ashleman and CFO William Grogan will discuss the company's financial performance and answer investor questions. Interested parties can listen to the call online via IDEX's website and view accompanying presentation slides. An audio replay will be available until March 2, 2022. IDEX is a global company with over 40 businesses and nearly $2.5 billion in sales, involved in various mission-critical components used in everyday life.
IDEX Corporation (NYSE:IEX) has announced the acquisition of Nexsight, LLC for $120 million. This strategic purchase includes leading businesses such as Envirosight, WinCan, MyTana, and Pipeline Renewal Technologies. The acquisition is set to enhance IDEX's wastewater monitoring capabilities and expand its product offerings in intelligent water technologies. With annual sales of about $50 million, this deal is expected to close in Q1 2021, pending regulatory approvals. CEO Eric Ashleman emphasized the importance of this move for broadening expertise in wastewater infrastructure.
IDEX Corporation (NYSE:IEX) has announced a quarterly cash dividend of $0.54 per share, payable on January 28, 2022, to shareholders of record as of January 14, 2022. This marks the 109th consecutive quarterly cash dividend payment from the company. IDEX operates over 40 businesses globally, with approximately $2.5 billion in sales and more than 7,000 employees, providing essential components used in various life-saving and everyday applications.
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