IDEX Q2 2022 Earnings Report
Key Takeaways
IDEX Corporation reported strong second-quarter results with a 16% increase in sales, driven by 12% organic growth. The company achieved record adjusted EPS of $2.02, a 15% increase year-over-year. Operating margin performance remained strong, and the company completed the acquisition of KZValve.
Reported EPS of $1.81, up 35% and record adjusted EPS of $2.02, up 15% vs. Q2 2021
Orders of $839 million, up 12% overall and 7% organically vs. Q2 2021
Record sales of $796 million, up 16% overall and 12% organically vs. Q2 2021
Completed acquisition of KZValve on May 2, 2022
IDEX
IDEX
IDEX Revenue by Segment
Forward Guidance
Full year 2022 organic sales growth is projected to be approximately 10 percent, with a 9 to 10 percent organic sales increase in the third quarter of 2022 versus the prior year period. The Company expects full year 2022 reported EPS attributable to IDEX of $7.19 to $7.29 (adjusted EPS attributable to IDEX of $7.88 to $7.98) and third quarter 2022 reported EPS attributable to IDEX of $1.80 to $1.85 (adjusted EPS attributable to IDEX of $1.98 to $2.03).
Positive Outlook
- Full year 2022 organic sales growth is projected to be approximately 10 percent.
- Organic sales are expected to increase 9-10% in Q3 2022 compared to the prior year.
- Full year 2022 reported EPS attributable to IDEX is guided to $7.19 - $7.29.
- Full year 2022 adjusted EPS attributable to IDEX is guided to $7.88 - $7.98.
- Third quarter 2022 reported EPS attributable to IDEX is expected to be $1.80 - $1.85.
Revenue & Expenses
Visualization of income flow from segment revenue to net income