IDEX - IEX STOCK NEWS

IDEX Corporation (NYSE:IEX) has successfully completed its acquisition of Abel Pumps, L.P. from Hillenbrand, Inc. (NYSE:HI). Abel is known for its advanced reciprocating positive displacement pumps tailored for demanding applications in sectors such as mining, marine, and wastewater. This strategic acquisition is set to enhance IDEX's fluidics capabilities and expand its market reach. Abel's operational headquarters is in Germany, with additional locations in Spain and the U.S. IDEX aims to leverage Abel's expertise to improve its solutions for its customers' fluid management challenges.

IDEX Corporation (NYSE: IEX) reported financial results for 2020, highlighting full-year EPS of $4.94 and adjusted EPS of $5.19. Cash from operations reached $569 million, marking an 8% increase, leading to a record free cash flow of $518 million. Orders in Q4 were $679 million, a 10% rise, while overall orders for the year totaled $2.4 billion, down 3%. The company announced the acquisition of Abel Pumps, L.P. in January 2021. Despite a strong performance in cash flow, sales decreased by 6% year-over-year, attributed to lower volume and a challenging business mix.

IDEX Corporation (NYSE:IEX) has appointed Lakecia N. Gunter to its Board of Directors, expanding the board from 10 to 11 members. Gunter, who currently serves as Vice President and General Manager at Microsoft for IoT, is expected to bring significant expertise in technology and digital innovation, especially as IDEX focuses on integrating IoT into its offerings. CEO Eric D. Ashleman emphasized her experience will be vital for guiding the company through digitalization trends. Gunter holds degrees in computer engineering and electrical engineering, and has received accolades for her leadership in technology.

Hillenbrand (NYSE: HI) announced a definitive agreement to sell Abel Pumps, L.P. and affiliates to IDEX Corporation (NYSE: IEX) for $103.5 million in cash. This decision aligns with Hillenbrand's strategy to exit the ABEL business and streamline its portfolio. The transaction is expected to close in the second fiscal quarter of 2021, subject to customary conditions. Proceeds will be used to reduce debt and reinvest in growth opportunities. This follows the recent sale of Red Valve, enhancing Hillenbrand's financial flexibility and shareholder value.

IDEX Corporation (NYSE:IEX) has signed a definitive agreement to acquire Abel Pumps, L.P. from Hillenbrand, Inc. (NYSE: HI) for $103.5 million in cash. Abel Pumps specializes in high-performance reciprocating pumps for various critical sectors, including mining and wastewater. Abel’s annual revenue is approximately $34 million. This acquisition is expected to enhance IDEX's pump manufacturing expertise and expand its offerings. The deal is anticipated to close in Q1 2021, pending regulatory approvals and customary conditions.

IDEX CORPORATION (NYSE:IEX) has scheduled its fourth quarter 2020 earnings conference call for February 4, 2021, at 9:30 a.m. CT. CEO Eric Ashleman and CFO William Grogan will discuss the company's financial performance and take questions. The call will be accessible via the company’s website, along with presentation slides. An archive will be available post-call, and a replay will be accessible until March 4, 2021. IDEX operates globally with over 7,000 employees and $2+ billion in revenue, producing crucial products for various industries.

IDEX CORPORATION (NYSE:IEX) has declared a quarterly cash dividend of $0.50 per common share, scheduled for payment on January 29, 2021. Shareholders on record as of January 14, 2021 will receive this dividend. This marks the company’s 105th consecutive quarterly dividend.

IDEX operates globally with over 40 diverse businesses and around 7,000 employees, generating more than $2 billion in revenue.

IDEX Corporation (NYSE: IEX) reported Q3 2020 financial results with operational cash flows of $153.7 million and a free cash flow of $135.3 million. Q3 orders decreased by 3% to $570.3 million, and sales dropped 7% to $581.1 million. Gross margin stood at 43.3%, down 190 basis points from the prior year. Net income was $103.8 million with an EPS of $1.37, while adjusted EPS was $1.40, reflecting an 8% decline year-over-year. The company maintains a strong liquidity position with record cash of $878 million.

IDEX Corporation (NYSE: IEX) announced its third quarter earnings conference call to be held on October 28, 2020, at 9:30 a.m. CT. Chairman and CEO Andrew Silvernail, along with CFO William Grogan, will discuss the company’s financial performance and address questions from investors. Interested participants can access the call and accompanying presentation slides via the IDEX website. An audio replay will be available post-call until November 28, 2020.