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Sep 30, 2023
IDEX Q3 2023 Earnings Report
IDEX reported strong profitability and achieved record free cash flow.
Key Takeaways
IDEX Corporation reported Q3 2023 results with sales of $793.4 million, a decrease of 4% overall and 6% organically. Diluted EPS was $2.75, up 17%, and adjusted diluted EPS was $2.12, down 1%. The company raised its full-year GAAP EPS guidance to $7.91 to $7.96 and adjusted EPS guidance to $8.13 to $8.18.
Sales of $793.4 million, down 4% overall and 6% organically.
Reported diluted EPS of $2.75, up 17%, and adjusted diluted EPS of $2.12, down 1%, included a lower effective tax rate.
Strong operating cash flow of $227 million, up 14%; record free cash flow of $207 million, up 14%.
Full year GAAP EPS guidance raised to $7.91 to $7.96 from prior guidance of $6.80 to $6.90.
Revenue by Segment
Forward Guidance
Full year 2023 organic sales are projected to decline 1% to 2% over the prior year, with GAAP diluted EPS of $7.91 - $7.96 (adjusted diluted EPS of $8.13 - $8.18). Fourth quarter 2023 organic sales are projected to decline 8% to 9% over the prior year period, with GAAP diluted EPS of $1.50 - $1.55 (adjusted diluted EPS of $1.74 - $1.79).
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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