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) announced its acquisition of KZ CO. (KZValve), a manufacturer of electric valves and controllers primarily for agriculture. Founded in 1976, KZValve is known for its innovative agricultural components and has projected sales of $28 million for FY2022. This acquisition aims to enhance IDEX's agricultural product offerings and expand its market reach within the agricultural segment of its Fluid & Metering Technologies group. The deal is expected to close in Q2 FY2022, pending regulatory approvals.
IDEX Corporation (NYSE:IEX) will host its first quarter earnings conference call on April 27, 2022, at 9:30 a.m. CT. CEO Eric Ashleman and CFO William Grogan will discuss the company's Q1 financial performance and answer questions from investors. The call can be accessed via the company's website, along with presentation slides. An archive of the call will be available post-event, with an audio replay accessible until May 27, 2022.
IDEX, a global company with nearly $2.8 billion in sales, operates over 45 diverse businesses worldwide.
IDEX Corporation (NYSE:IEX) has successfully acquired Nexsight, LLC, enhancing its water business offerings. This acquisition includes leading brands such as Envirosight and WinCan, which improve IDEX's capabilities in wastewater infrastructure inspection and monitoring. CEO Eric Ashleman emphasized that this strategic move aims to diversify and strengthen IDEX's product solutions, aiding in early detection of wastewater issues, thereby benefiting clients and public health. IDEX's growth strategy involves investments in companies that align with its operational strengths.
IDEX Corporation (NYSE:IEX) announced the appointment of Paris Watts-Stanfield to its Board of Directors, effective February 25, 2022, increasing the board size to 11 members. Ms. Watts-Stanfield, currently CFO of Greater China at Medtronic, brings significant experience in corporate finance and audit roles. She will also serve on the Audit Committee. Leadership emphasized her global business skills and alignment with IDEX's mission to enhance value and growth.
IDEX Corporation (NYSE: IEX) reported record financial results for 2021, with reported EPS of $5.88, a 19% increase, and adjusted EPS of $6.30, up 21%. Full-year sales reached $2.8 billion, reflecting an 18% rise overall and 12% organically. The company also announced a strategic acquisition of Nexsight, LLC for $120 million. Despite strong growth projections for 2022, IDEX anticipates ongoing challenges from supply chain issues and COVID-19 impacting production capacity.
IDEX Corporation (NYSE:IEX) has scheduled its fourth quarter earnings conference call for February 2, 2022, at 9:30 a.m. CT. CEO Eric Ashleman and CFO William Grogan will discuss the company's financial performance and answer investor questions. Interested parties can listen to the call online via IDEX's website and view accompanying presentation slides. An audio replay will be available until March 2, 2022. IDEX is a global company with over 40 businesses and nearly $2.5 billion in sales, involved in various mission-critical components used in everyday life.
IDEX Corporation (NYSE:IEX) has announced the acquisition of Nexsight, LLC for $120 million. This strategic purchase includes leading businesses such as Envirosight, WinCan, MyTana, and Pipeline Renewal Technologies. The acquisition is set to enhance IDEX's wastewater monitoring capabilities and expand its product offerings in intelligent water technologies. With annual sales of about $50 million, this deal is expected to close in Q1 2021, pending regulatory approvals. CEO Eric Ashleman emphasized the importance of this move for broadening expertise in wastewater infrastructure.
IDEX Corporation (NYSE:IEX) has announced a quarterly cash dividend of $0.54 per share, payable on January 28, 2022, to shareholders of record as of January 14, 2022. This marks the 109th consecutive quarterly cash dividend payment from the company. IDEX operates over 40 businesses globally, with approximately $2.5 billion in sales and more than 7,000 employees, providing essential components used in various life-saving and everyday applications.
IDEX Corporation (NYSE: IEX) reported strong financial results for Q3 2021, with record orders of $774.2 million, a 36% increase year-over-year, and sales of $712.0 million, up 23%. The operating margin was 22.6% and adjusted operating margin was 24.3%. Earnings per share (EPS) reached a record $1.51, with adjusted EPS at $1.63, a 16.4% increase from the prior year. Full-year adjusted EPS guidance has been narrowed to $6.30 to $6.33. The company expects 9-10% organic sales growth in Q4.
IDEX Corporation (NYSE: IEX) has formed a national partnership with the Boys & Girls Clubs of America through the IDEX Foundation, enabling expanded local volunteer opportunities for IDEX employees. This collaboration aligns with IDEX's new charitable focus on equity and opportunity for under-served communities. It aims to empower young individuals while supporting local Clubs financially and through volunteerism. The IDEX Foundation, which supports numerous charitable initiatives, enhances community engagement.