Highlights

  • Third quarter 2026 sales were $952 million, orders were $991 million, and reported diluted EPS was $1.95.
  • Full-year 2026 adjusted diluted EPS guidance is now $8.91 to $8.96, up from previous guidance of $8.70 to $8.85.
  • IDEX returned $129 million to shareholders and extended its $800 million revolving credit facility maturity to September 2031.
  • Full-year organic sales are projected to increase 6.5% to 6.8%, up from previous guidance of 5% to 6%.

IDEX Corporation (NYSE:IEX) shares were trading at USD 238.41 on October 28, 2026, up 2.23%, with a relative volume at time of 3.56. The engineered products company amended its revolving credit facility and reported third quarter 2026 results with increased full-year guidance on October 28.

IDEX Corporation is incorporated in Delaware and has its headquarters in Northbrook, Illinois. The company describes itself as a global engineered products company with three primary business segments: Health & Science Technologies, Fluid & Metering Technologies, and Fire & Safety/Diversified Products. Its employees design and manufacture engineered components and applied solutions for customers in industries ranging from satellite communications to water systems and medical diagnostic components. The company says it was founded in 1988 and now includes more than 50 businesses and manufacturing operations in more than 20 countries.

Third Quarter 2026 Results

For the three months ended September 30, 2026, net sales were $951.7 million, compared with $878.7 million in the prior-year period, an 8% change on both a reported and organic basis. Orders were $991.2 million, compared with $880.3 million, a 13% change on both bases. Gross profit was $429.5 million and gross margin was 45.1%, compared with 44.5%.

Net income attributable to IDEX was $144.1 million, or $1.95 per diluted share, compared with $127.8 million, or $1.70 per diluted share. Restructuring expenses and asset impairments were $3.4 million, compared with $0.1 million.

On a non-GAAP basis, adjusted net income attributable to IDEX was $172.8 million and adjusted diluted EPS was $2.33, compared with $2.03. Adjusted EBITDA was $264.8 million with a margin of 27.8%. Free cash flow was $214.3 million. Cash flows from operating activities were $239.5 million.

Segment Results

Health & Science Technologies net sales were $433.5 million, a 14% reported change and a 13% organic change. The company said higher volumes came primarily from AI-driven demand for data center power and semiconductor markets, as well as space and defense. Segment adjusted EBITDA was $124.8 million.

Fluid & Metering Technologies net sales were $327.9 million, a 3% reported change and a 4% organic change. Higher volumes in municipal water, semiconductor and industrial markets were partially offset by lower volumes in chemical, agriculture and energy markets. Segment adjusted EBITDA was $111.0 million.

Fire & Safety/Diversified Products net sales were $191.5 million, a 5% reported change and a 6% organic change. Segment adjusted EBITDA was $54.5 million. Corporate costs included in consolidated adjusted EBITDA were $25.5 million, compared with $21.7 million a year earlier.

Balance Sheet, Cash Flow and Capital

At September 30, 2026, cash and cash equivalents were $602.1 million and long-term borrowings, net, were $1,751.1 million. For the nine months, net cash flows provided by operating activities were $543.2 million, capital expenditures were $65.9 million and repurchases of common stock were $228.0 million.

IDEX said it returned $129 million to shareholders in the quarter through dividends and share repurchases. The company amended and restated its $800 million revolving credit facility to extend the maturity date to September 2031. On the call, management said it plans to maintain repurchases at around $75 million per quarter through the rest of 2026.

2026 Outlook

IDEX now projects full-year organic sales to increase 6.5% to 6.8% over the prior year, up from previous guidance of 5% to 6%. It projects full-year adjusted diluted EPS of $8.91 to $8.96, up from previous guidance of $8.70 to $8.85. The company does not reconcile its forward-looking non-GAAP measures to U.S. GAAP.

On the call, management said it expects a full-year adjusted EBITDA margin of 27.1% to 27.3%, capital expenditures of approximately $110 million and free cash flow conversion of at least 100%. Management also said it expects fourth quarter margins to step down sequentially, with fewer production days and planned maintenance shutdowns.