IDEX records Q1 sales record, cuts FY2023 adj. EPS guidance amid HST inventory correction; announces acquisition

IDEX CORP /DE/

2023-Q1 EPS reported $1.84 revenue$845,400,000

Record Q1 sales $845M (+13% YoY); reported EPS $1.84, adjusted EPS $2.09 (+7% vs $1.96).
Health & Science Technologies inventory correction larger than expected; full-year adjusted EPS guidance lowered to $8.25–$8.55.
Agreed to acquire Iridian Spectral Technologies for CAD$150M; expected to close Q2 2023.
Operating cash flow $148M (+86% YoY); free cash flow $121M (+91%).
FMT segment margin up 50bps to 33.0%, FSDP up 160bps to 28.5%, HST down 300bps to 28.7%.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

IDEX CORP /DE/ reported the three month period ended March 31, 2023 results: revenue $845.4 million, net income $139.8 million, EPS $1.84.

Period: the three month period ended March 31, 2023
Revenue: $845.4 million
Net income: $139.8 million
EPS: $1.84
Result: reported results

Exact text from the filing

(847) 498-7070 IDEX REPORTS FIRST QUARTER RESULTS First Quarter 2023 Highlights (All comparisons against the first quarter of 2022 unless otherwise noted) • Record sales of $845 million, up 13% overall and 6% organically • Reported EPS of $1.84, up 1% and adjusted EPS of $2.09, up 7% • Strong operating cash flow of $148 million, up 86%; free cash flow of $121

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

IDEX CORP /DE/ reported full year 2023 results: EPS $8.25 to $8.55 per share. Guidance lowered.

Period: full year 2023
EPS: $8.25 to $8.55 per share
Guidance: lowered
Result: guidance update

Exact text from the filing

Based on our current outlook, we are lowering our full year 2023 adjusted EPS guidance to $8.25 to $8.55 per share.

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IDEX CORP /DE/ filing history →

Source: SEC EDGAR

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