IDEX Raises Full-Year Outlook Following Strong Q2 Performance
IDEX Corporation (NYSE:IEX) reported second-quarter results that exceeded expectations, leading to an upward revision of its full-year guidance. The company's adjusted earnings per share came in at $2.32 for the quarter ended June 30, surpassing analysts' estimates by $0.21. Revenue rose 6% year-over-year to $921 million, also beating forecasts. The Health & Science Technologies segment drove strong organic sales growth of 5%, with a notable 12% increase in that division due to demand for AI infrastructure and semiconductor applications. IDEX raised its full-year adjusted earnings guidance range to between $8.70 and $8.85 per share, above the previous estimate of $8.50. The company also reported record orders exceeding $1 billion during Q2, a 29% increase on a reported basis. Shareholder returns totaled $131 million through repurchases and dividends.
Tickers: $IEX