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Sep 30, 2021
IDEX Q3 2021 Earnings Report
IDEX reported record orders and sales, navigating supply chain challenges and achieving strong operating results.
Key Takeaways
IDEX Corporation announced record third-quarter results with significant increases in orders and sales. The company reported a 23% increase in sales and a 36% increase in orders compared to the prior year. Adjusted EPS reached a record $1.63, and the company narrowed its full-year adjusted EPS guidance to $6.30 to $6.33.
Record orders of $774.2 million, up 36% overall and 28% organically compared to Q3 2020.
Record sales of $712.0 million, up 23% overall and 15% organically compared to Q3 2020.
Reported operating margin was 22.6% with adjusted operating margin of 24.3%.
Record reported EPS was $1.51 with record adjusted EPS of $1.63.
IDEX
IDEX
IDEX Revenue by Segment
Revenue by Segment
Health & Science Technologies Revenue
CapyFin.comFluid & Metering Technologies Revenue
CapyFin.comFire & Safety/Diversified Products Revenue
CapyFin.com Forward Guidance
The company expects organic sales growth of 9 to 10 percent with EPS in the range of $1.55 to $1.58 for the fourth quarter. For the full year, they are maintaining their projection of 11 to 12 percent organic sales growth and narrowing their adjusted EPS range to $6.30 to $6.33.
Positive Outlook
- Expects organic sales growth of 9% to 10% for Q4.
- Maintaining full-year organic sales growth projection of 11% to 12%.
- Narrowing adjusted EPS range to $6.30 to $6.33 for the full year.
- Acquisitions made in the first half of the year are performing extremely well.
- Balance sheet remains strong, with ample capital to support organic investments in business innovations and strategic M&A.
Challenges Ahead
- Assumes similar output to Q3 results.
- Potential for year-end logistics challenges.
- Step up in targeted investments.
- Challenging supply chain environment.
- Macro constraints that inhibit customer satisfaction.
Revenue & Expenses
Visualization of income flow from segment revenue to net income