earnings
confidence high
sentiment neutral
materiality 0.65
IDEX Q3 adj EPS $1.90; sales flat organic; full-year GAAP EPS guidance lowered to $6.65-$6.70
IDEX CORP /DE/
2024-Q3 EPS reported
$5.02
revenue$2,405,900,000
- GAAP diluted EPS $1.57 vs $2.75 prior year; adjusted diluted EPS $1.90 vs $2.12, down 10%.
- Total sales $798M, up 1% as reported, flat organic; FMT +2%, HST -5%, FSDP +4% organic.
- Completed Mott acquisition for ~$900M net (19x 2024 EBITDA); closed $500M 4.950% senior notes due 2029.
- FY2024 guidance: organic sales decline 1-2%; GAAP EPS $6.65-$6.70 (down from $6.85-$6.95), adj EPS unchanged $7.85-$7.90.
- Operating cash flow $205M (172% of net income); free cash flow $192M (133% of adj net income).