IDEX Q3 2022 Earnings Report
Key Takeaways
IDEX Corporation reported record third-quarter results, with sales of $824 million, a 16% increase compared to the prior year period. Record reported EPS was $2.36, up 56% and record adjusted EPS was $2.14, up 20% vs. Q3 2021. The company raised its full-year GAAP EPS and adjusted EPS guidance to $7.75 to $7.80 and $8.04 to $8.09, respectively.
Record reported EPS of $2.36, up 56% and record adjusted EPS of $2.14, up 20% vs. Q3 2021
Record sales of $824 million, up 16% overall and 15% organically vs. Q3 2021
Reported and adjusted operating margin of 24.5% and 24.9% were up 190 and 60 basis points, respectively, vs. Q3 2021
Record cash from operations of $198 million was 111% of net income; record free cash flow of $182 million was 112% of adjusted net income
IDEX
IDEX
IDEX Revenue by Segment
Forward Guidance
Full year 2022 organic sales growth is projected to be approximately 12 percent over the prior year period, with a 9 percent organic sales increase in the fourth quarter of 2022 versus the prior year period. The Company expects full year 2022 reported EPS attributable to IDEX of $7.75 to $7.80 (adjusted EPS attributable to IDEX of $8.04 to $8.09) and fourth quarter 2022 reported EPS attributable to IDEX of $1.75 to $1.80 (adjusted EPS attributable to IDEX of $1.92 to $1.97).
Revenue & Expenses
Visualization of income flow from segment revenue to net income