IDEX reports record Q2 sales $846M; lowers FY adjusted EPS guidance to $7.90-$8.00 on HST weakness

IDEX CORP /DE/

2023-Q2 EPS reported $3.66 revenue$1,691,600,000

Record Q2 sales $846.2M (+6% overall, +3% organic); reported EPS $1.82, adj. EPS $2.18 (+8%).
FY2023 guidance lowered: organic sales decline 1-2%, GAAP EPS $6.80-$6.90, adj. EPS $7.90-$8.00.
HST segment organic sales -6%, Adj. EBITDA margin -420bps to 27.6%; CEO sees no H2 recovery.
Completed Iridian acquisition for $110.3M cash; issued $100M 5.13% senior notes due 2028.
Operating cash flow $141.2M (+26%), free cash flow $119.6M (+24%).

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

IDEX CORP /DE/ reported the three months ended June 30, 2023 results: revenue $846.2 million, net income $138.6 million, EPS $1.82. Guidance lowered.

Period: the three months ended June 30, 2023
Revenue: $846.2 million
Net income: $138.6 million
EPS: $1.82
Guidance: lowered
Result: reported results

Exact text from the filing

IN RESPONSE TO SOFTENING SECOND HALF OUTLOOK Second Quarter 2023 Highlights (All comparisons are against the second quarter of 2022 unless otherwise noted) • Record sales of $846.2 million, up 6% overall and 3% organically • Reported EPS of $1.82, up 1% and record adjusted EPS of $2.18, up 8% • Strong operating cash flow of $141 million, up 26%; free cash flow of

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Source: SEC EDGAR

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