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Jun 30, 2021
IDEX Q2 2021 Earnings Report
IDEX's financial performance for the second quarter of 2021, marked by record orders and sales, and raised full-year guidance.
Key Takeaways
IDEX Corporation reported record orders and sales in Q2 2021, with orders reaching $751.0 million and sales at $685.9 million. The company's adjusted EPS was $1.61, and full-year adjusted EPS guidance was raised to $6.26 to $6.36. IDEX finalized the termination of the U.S. pension plan, refinanced senior notes, and completed the acquisition of Airtech Group, Inc.
Record orders of $751.0 million, up 44 percent overall and 39 percent organically.
Record sales of $685.9 million, up 22 percent overall and 17 percent organically.
Reported EPS was $1.34 with adjusted EPS of $1.61.
Full year adjusted EPS guidance raised to $6.26 to $6.36.
Revenue by Segment
Forward Guidance
IDEX projects 11 to 12 percent organic sales growth for the full year 2021, with a 14 to 16 percent organic sales increase in the third quarter. Full year 2021 adjusted EPS is now projected to be $6.26 to $6.36, with third quarter adjusted EPS of $1.57 to $1.61. This includes 6 cents in the second half of the year attributable to the Airtech acquisition.
Positive Outlook
- Projecting 11 to 12 percent organic sales growth for the full year 2021.
- Expecting a 14 to 16 percent organic sales increase in the third quarter.
- Full year 2021 adjusted EPS is now projected to be $6.26 to $6.36.
- Third quarter adjusted EPS of $1.57 to $1.61 is anticipated.
- Airtech acquisition is expected to contribute 6 cents to EPS in the second half of the year.
Challenges Ahead
- Global supply chain constraints are creating daily challenges.
- Component shortages are impacting operations.
- Inflation is a persistent concern.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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