secwatch.observer — SEC 8-K summary
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Issuer:     IDEX CORP /DE/ (IEX)
CIK:        0000832101
Form:       8-K
Filed at:   2024-08-01T23:59:59+00:00
Accession:  0000832101-24-000042
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IDEX Q2 sales and profit miss; cuts full-year guidance; announces $1B Mott acquisition
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- Q2 sales $807M, down 5% (4% organic); GAAP EPS $1.86 (up 2%), adjusted EPS $2.06 (down 6%).
- Full-year guidance cut: organic sales decline 1-2% (prior up 0-2%); GAAP EPS $6.85-$6.95, adjusted $7.80-$7.90.
- Q3 guidance: organic sales flat to +1%; adjusted EPS $1.85-$1.90.
- Announced $1.0B cash acquisition of Mott Corp, expected close Q3 2024.
- Divested Alfa Valvole for $45.5M cash, recording a $4.6M gain.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/832101/000083210124000042/0000832101-24-000042-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/832101/000083210124000042/iex-20240731.htm
  HTML page:      https://secwatch.observer/filing/0000832101-24-000042

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer