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Dec 31, 2024
IDEX Q4 2024 Earnings Report
IDEX reported record sales and increased EPS, driven by acquisitions and organic growth in specific segments.
Key Takeaways
IDEX Corporation reported a strong fourth quarter with record sales of $863 million, a 9% increase overall and 3% organically. The company's diluted EPS rose by 13% to $1.62, and adjusted diluted EPS increased by 11% to $2.04. Growth was driven by acquisitions and positive returns in fire safety and diversified products, while the health & science technologies segment showed strong organic orders growth.
Record sales of $863 million, up 9% overall and 3% organically.
Diluted EPS of $1.62, up 13%; adjusted diluted EPS of $2.04, up 11%.
Fire & Safety/Diversified Products teams achieved another quarter of record sales and solid organic growth.
Health & Science Technologies segment experienced strong organic orders growth.
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
IDEX projects full year organic sales to increase 1% to 3% over the prior year and GAAP diluted EPS of $6.56 to $6.96 (adjusted diluted EPS of $8.10 to $8.45). For the first quarter of 2025, organic sales are projected to decrease 3% to 4% from the prior year period, with GAAP diluted EPS of $1.18 to $1.24 (adjusted diluted EPS of $1.60 to $1.65).
Positive Outlook
- Full year organic sales are projected to increase 1% to 3% over the prior year
- Full year GAAP diluted EPS of $6.56 to $6.96 (adjusted diluted EPS of $8.10 to $8.45)
- Strong price capture realized across all segments.
- Targeted growth initiatives and industrial projects contributed to sales growth.
- Continued recovery in fire original equipment manufacturer markets.
Challenges Ahead
- First quarter 2025 organic sales are projected to decrease 3% to 4% from the prior year period
- First quarter GAAP diluted EPS of $1.18 to $1.24 (adjusted diluted EPS of $1.60 to $1.65)
- Cyclical softness in the life sciences, automotive, and semiconductor markets.
- Unfavorable mix and higher employee-related costs impacted Adjusted EBITDA margin in Fire & Safety/Diversified Products.
- Geopolitical and economic uncertainty heading into 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income