Welcome to our dedicated page for IDEX news (Ticker: IEX), a resource for investors and traders seeking the latest updates and insights on IDEX stock.
IDEX Corporation reports developments for a global engineered products company organized around Health & Science Technologies, Fluid & Metering Technologies, and Fire & Safety / Diversified Products. Its updates cover quarterly operating results, organic sales trends, orders, margins, restructuring and productivity actions, dividends, share repurchases, and leadership changes.
Company news also reflects applied solutions across pumps, flow meters, valves, fluidic systems, medical diagnostic components, water systems, emergency rescue tools, satellite communications, and propulsion-related flow-control offerings through Mott Corporation.
IDEX Corporation (NYSE: IEX) reported strong financial results for Q2 2021, achieving record orders of $751.0 million, a 44% increase year-over-year. Sales rose to $685.9 million, up 22%. The company noted an adjusted EPS of $1.61, up 46.4% from the previous year, and raised its full-year adjusted EPS guidance to $6.26-$6.36.
Key factors include successful acquisitions, improved margins, and heightened demand across all segments despite challenges like inflation and supply chain issues. Additionally, the company terminated its U.S. pension plan and refinanced its debt to a lower rate.
IDEX CORPORATION (NYSE:IEX) is set to broadcast its second quarter earnings conference call on July 28, 2021, at 9:30 a.m. CT. CEO Eric Ashleman and CFO William Grogan will present the financial results and respond to investor questions. Interested parties can access the call and view presentation slides on IDEX's website. An archived version will also be available post-call, along with an audio replay until August 28, 2021. IDEX operates over 40 diverse businesses globally, employing 7,000 people and generating over $2 billion in revenue.
IDEX CORPORATION (NYSE:IEX) has declared a quarterly cash dividend of $0.54 per share, scheduled for payment on July 30, 2021. This dividend will benefit shareholders of record as of July 15, 2021, marking the 107th consecutive quarterly cash dividend for the company. IDEX operates as a global leader with over 40 businesses and 7,000 employees, generating revenues exceeding $2 billion annually, providing essential products across various industries.
IDEX Corporation (NYSE:IEX) has finalized its acquisition of Airtech Group, Inc., US Valve Corporation, and related entities from investment funds managed by EagleTree Capital. Airtech specializes in highly-engineered pressure technology products, including vacuum pumps and valves, catering to diverse markets such as food processing and alternative energy. This acquisition enhances IDEX's Health & Science Technology segment and aims to integrate Airtech's expertise into its operations, benefiting from increased capabilities in air moving technologies.
IDEX Corporation (NYSE: IEX) has priced a public offering of $500 million in 2.625% Senior Notes due 2031. This offering, expected to close on May 28, 2021, will net approximately $494.3 million after expenses. IDEX plans to use $357.4 million of the proceeds to redeem its 4.2% Senior Notes due December 15, 2021, alongside related interest and premiums. The remaining funds will be allocated for general corporate purposes. J.P. Morgan, BofA Securities, and Wells Fargo are joint book-running managers for this offering.
IDEX CORPORATION (NYSE:IEX) has announced an 8% increase in its quarterly cash dividend, raising it to $0.54 per share. This payment, marking the company's 106th consecutive quarterly dividend, will be distributed on May 28, 2021, to shareholders of record as of May 24, 2021. With a robust operational presence in over 20 countries and a diverse portfolio of 40 businesses, IDEX continues to demonstrate its commitment to enhancing shareholder value through consistent dividend growth.
IDEX Corporation (NYSE: IEX) reported strong financial results for Q1 2021, with record orders of $710.7 million and sales rising 10% year-over-year to $652 million. The adjusted EPS increased by 14% to $1.51. Operating margin improved to 24.3%, despite a slight decline in gross margin due to COVID-related inventory reserves. Cash from operations reached $109.3 million, supporting record free cash flow of $94.7 million. The company raised its full-year adjusted EPS guidance to $6.05-$6.20 and plans further acquisitions, including Airtech Group.
IDEX Corporation (NYSE:IEX) has announced its acquisition of Airtech Group, Inc., US Valve Corporation, and related entities from EagleTree Capital for $470 million, pending customary adjustments. Airtech specializes in engineered pressure technology products including vacuum pumps and valves, serving various markets globally. This acquisition aims to enhance IDEX's capabilities in high-performing air moving technologies. The deal is expected to close by Q2 2021, subject to regulatory approvals and conditions.
IDEX CORPORATION (NYSE:IEX) will host its first quarter earnings conference call on April 28, 2021, at 9:30 a.m. CT. CEO Eric Ashleman and CFO William Grogan will present the company’s financial performance and answer questions. Interested investors can listen live via the company's website and access presentation slides. A recording will be available post-call. As a global company exceeding $2 billion in revenue, IDEX produces critical components for various industries, highlighting its significant impact on daily lives.
Hillenbrand has completed the sale of Abel Pumps to IDEX Corporation for approximately $103.5 million. This strategic divestiture aligns with Hillenbrand's goal to streamline its portfolio and enhance financial flexibility. The company plans to utilize the proceeds to reduce leverage and reinvest in organic growth opportunities. CEO Joe Raver emphasized this move as a vital step towards increasing shareholder value and strengthening business platforms.