IDEX Stock Price, News & Analysis

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.

IDEX Corporation (NYSE:IEX) has successfully completed its acquisition of Abel Pumps, L.P. from Hillenbrand, Inc. (NYSE:HI). Abel is known for its advanced reciprocating positive displacement pumps tailored for demanding applications in sectors such as mining, marine, and wastewater. This strategic acquisition is set to enhance IDEX's fluidics capabilities and expand its market reach. Abel's operational headquarters is in Germany, with additional locations in Spain and the U.S. IDEX aims to leverage Abel's expertise to improve its solutions for its customers' fluid management challenges.

IDEX Corporation (NYSE: IEX) reported financial results for 2020, highlighting full-year EPS of $4.94 and adjusted EPS of $5.19. Cash from operations reached $569 million, marking an 8% increase, leading to a record free cash flow of $518 million. Orders in Q4 were $679 million, a 10% rise, while overall orders for the year totaled $2.4 billion, down 3%. The company announced the acquisition of Abel Pumps, L.P. in January 2021. Despite a strong performance in cash flow, sales decreased by 6% year-over-year, attributed to lower volume and a challenging business mix.

IDEX Corporation (NYSE:IEX) has appointed Lakecia N. Gunter to its Board of Directors, expanding the board from 10 to 11 members. Gunter, who currently serves as Vice President and General Manager at Microsoft for IoT, is expected to bring significant expertise in technology and digital innovation, especially as IDEX focuses on integrating IoT into its offerings. CEO Eric D. Ashleman emphasized her experience will be vital for guiding the company through digitalization trends. Gunter holds degrees in computer engineering and electrical engineering, and has received accolades for her leadership in technology.

Hillenbrand (NYSE: HI) announced a definitive agreement to sell Abel Pumps, L.P. and affiliates to IDEX Corporation (NYSE: IEX) for $103.5 million in cash. This decision aligns with Hillenbrand's strategy to exit the ABEL business and streamline its portfolio. The transaction is expected to close in the second fiscal quarter of 2021, subject to customary conditions. Proceeds will be used to reduce debt and reinvest in growth opportunities. This follows the recent sale of Red Valve, enhancing Hillenbrand's financial flexibility and shareholder value.

IDEX Corporation (NYSE:IEX) has signed a definitive agreement to acquire Abel Pumps, L.P. from Hillenbrand, Inc. (NYSE: HI) for $103.5 million in cash. Abel Pumps specializes in high-performance reciprocating pumps for various critical sectors, including mining and wastewater. Abel’s annual revenue is approximately $34 million. This acquisition is expected to enhance IDEX's pump manufacturing expertise and expand its offerings. The deal is anticipated to close in Q1 2021, pending regulatory approvals and customary conditions.