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 (NYSE: IEX), a leader in engineered industrial solutions, provides mission-critical components across fluidics, health sciences, and safety systems. This page aggregates official announcements and market-moving developments for stakeholders tracking the company's strategic direction.
Access comprehensive updates including quarterly earnings disclosures, product launch details, and partnership announcements. Our curated feed covers innovations in pump technologies, fire safety advancements, and precision components for medical diagnostics - all central to IDEX's diversified industrial operations.
Key content categories include financial performance reports, manufacturing capacity expansions, and R&D breakthroughs in fluid control systems. Bookmark this resource for streamlined monitoring of operational milestones impacting IDEX's position in global industrial markets.
In Q1 2023, IDEX Corporation reported record sales of $845 million, up 13% year-over-year, with organic growth of 6%. Earnings per share (EPS) rose to $1.84, a 1% increase, and adjusted EPS was $2.09, up 7%. Operating cash flow surged by 86% to $148 million, and free cash flow reached $121 million, up 91%. Despite strong overall performance, the company anticipates a negative revenue growth outlook for its Health & Science Technologies segment due to prolonged inventory correction, prompting a revision in 2023 adjusted EPS guidance to $8.25 to $8.55.
IDEX announced plans to acquire Iridian Spectral Technologies for 150 million Canadian dollars, enhancing its optical filters portfolio. Overall, the Q1 results reflect resilience amidst challenges, particularly in the HST segment.
IDEX Corporation (NYSE:IEX) has agreed to acquire Iridian Spectral Technologies for 150 million Canadian dollars, enhancing its optical coating capabilities. This strategic acquisition aims to bolster IDEX's product portfolio in optical filters, positioning the company to compete more effectively in key markets, including laser communications and life sciences. Iridian, expected to generate CAD 36 million in sales for the fiscal year 2023 with an EBITDA margin in the low 30s, will become part of IDEX's Health & Science segment. The acquisition is set to close later this quarter, pending customary conditions. CEO Eric Ashleman emphasized that this move aligns with IDEX's strategic growth plan.
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