Second Quarter 2024 Highlights
(All comparisons are against the second quarter of 2023 unless otherwise noted)
- Sales of $807 million, down 5% overall and 4% organically
- Reported diluted EPS of $1.86, up 2%, and adjusted diluted EPS of $2.06, down 6%, exceeding
second quarter expectations - Operating cash flow of $134 million, down 5%; free cash flow of $118 million, down 2%
Revised Full Year and Third Quarter 2024 Outlook
- Full year organic sales growth is projected to decline 1% to 2% versus the prior year, down from
previous guidance of an increase of 0% to 2% - Full year GAAP diluted EPS of $6.85 – $6.95 (adjusted diluted EPS of $7.80 – $7.90), down from
previous guidance of $7.13 – $7.43 (adjusted diluted EPS of $8.15 – $8.45) - Third quarter organic sales are projected to be 0% to 1% over the prior year period
- Third quarter GAAP diluted EPS of $1.61 – $1.66 (adjusted diluted EPS of $1.85 – $1.90)
NORTHBROOK, IL, July 31, 2024 – IDEX Corporation (NYSE: IEX) today announced its financial
results for the three-month period ended June 30, 2024.
“IDEX teams delivered strong execution in the second quarter, expanding margins sequentially despite
stronger uncertainty-fueled macro headwinds,” said Eric D. Ashleman, IDEX Corporation Chief Executive
Officer and President.
“As we tune the portfolio for sustained growth performance, our business leaders are deploying focused
resources to our best long term growth initiatives within attractive application areas. We are bolstering
those efforts through thoughtful and disciplined capital deployment. Our recently announced acquisition of Mott Corporation is a powerful example given its outstanding fit with our businesses and strategy.”
For further information on IDEX Corporation and its business units, visit the company’s website at
www.idexcorp.com.
View full version at at https://investors.idexcorp.com/news-releases/news-release-details/idex-reports-second-quarter-results-and-updates-2024-outlook