IDEX Q4 2020 Earnings Report
Key Takeaways
IDEX Corporation reported a strong fourth quarter in 2020, with record orders driven by improvements in most end markets and positive organic order growth across all segments. The company's adjusted EPS increased by 3% and free cash flow increased by 9% compared to the prior year period.
Record fourth quarter orders of $679 million, up 10 percent overall and 7 percent organically.
Fourth quarter EPS of $1.32; adjusted EPS of $1.37.
Cash from operations of $161.4 million was up 7 percent from the prior year period.
Announced the acquisition of Abel Pumps, L.P. in January 2021.
IDEX
IDEX
IDEX Revenue by Segment
Forward Guidance
The company projects 6 to 8 percent organic sales growth for the full year 2021, with a 2 to 4 percent organic sales increase in the first quarter. Full year 2021 EPS is projected to be $5.65 to $5.95, with first quarter EPS of $1.38 to $1.42.
Positive Outlook
- End markets are expected to continue to improve in 2021.
- Strong orders in the fourth quarter.
- Sustained sequential improvement.
- Projected 6 to 8 percent organic sales growth for the full year 2021.
- Projected first quarter EPS of $1.38 to $1.42.
Challenges Ahead
- Continuing impact of COVID-19 and the enacted containment measures cannot be predicted.
- COVID-19 and related measures to contain its impact have caused material disruptions in both national and global financial markets and economies.
- The pandemic and the enacted containment measures have adversely affected business and results of operations.
- Customers purchased less product than they have historically purchased from the onset of the pandemic through the second quarter of 2020.
- The continuing effects of the coronavirus pandemic on our ability to operate our business and facilities, on our customers, on supply chains and on the U.S. and global economy generally
Revenue & Expenses
Visualization of income flow from segment revenue to net income