IDEX Corporation has recently released its 10-Q report, which provides a comprehensive look at the company's financial health and operational performance. IDEX operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment caters to various industries, including industrial, water and wastewater, energy, chemical, agriculture, semiconductor, and food and pharmaceutical. The HST segment serves life sciences, general industrial, analytical instruments, semiconductor, food and pharmaceutical, energy, automotive, aerospace/defense, and medical/dental markets. The FSDP segment serves the fire suppression, paint dispensing, rescue tools, automotive, general industrial, aerospace/defense, and energy markets.
In the 10-Q report, IDEX reported net sales of $814.3 million for the period, representing a 2% increase overall, although organic sales decreased by 1%. The diluted earnings per common share ("EPS") attributable to IDEX saw a 21% decrease, standing at $1.26. Adjusted diluted EPS* of $1.75 also decreased by 7%. The company attributed these decreases to interest on borrowings to fund the acquisition of Mott during the third quarter of 2024 and the absence of discrete one-time tax benefits during the first quarter of 2024.
The report also highlighted the impact of acquisitions and divestitures on the company's financial performance. The acquisition of Mott Corporation and its subsidiaries had a positive impact, while divestitures, including Alfa Valvole, Srl, which was sold in June 2024, influenced the results. The company's operating results were positively influenced by strong price/cost execution and favorable operational productivity, which partly mitigated the impact of volume pressure. However, the report also noted the potential unfavorable impact of tariffs and changes to global trade policies on the company's consolidated results of operations.
The report detailed the performance of IDEX's reportable business segments. The Fluid & Metering Technologies (FMT) segment experienced a 7% decrease in net sales, primarily due to lower volumes in agriculture, chemical, energy, and semiconductor businesses. The Health & Science Technologies (HST) segment saw a 10% increase in net sales, driven by favorable aerospace/defense markets, targeted growth initiatives, and price capture. The Fire & Safety/Diversified Products (FSDP) segment experienced a 4% increase in net sales, attributed to fire and safety targeted growth initiatives, dispensing projects volumes, and price capture.
In terms of liquidity and capital resources, IDEX reported a current ratio of 2.8 to 1, indicating strong liquidity. The company's working capital stood at $1,043.1 million as of March 31, 2025, reflecting its ability to meet short-term obligations. Additionally, the report highlighted the company's operating working capital, which increased to $740.6 million at March 31, 2025.
The market has reacted to these announcements by moving the company's shares 0.7% to a price of $175.25. Check out the company's full 10-Q submission here.
