earnings
confidence high
sentiment positive
materiality 0.80
IDEX reports record Q2 sales and orders; raises full-year adjusted EPS guidance
IDEX CORP /DE/
2021-Q2 EPS reported
$2.81
revenue$1,337,983,000
- Record orders $751.0M (+44% overall, +39% organic) and record sales $685.9M (+22% overall, +17% organic).
- Reported EPS $1.34; adjusted EPS $1.61, up 46.4% YoY. Adjusted operating margin 24.4% (+330 bps).
- Full-year adjusted EPS guidance raised to $6.26-$6.36 from $6.05-$6.20; Q3 adjusted EPS seen $1.57-$1.61.
- Closed Airtech acquisition for ~$469M; refinanced $350M 4.2% notes to $500M 2.625% notes due 2031.
- Terminated U.S. pension plan, recognizing $9.7M noncash loss; quarterly dividend raised 8% to $0.54.