IDEX Reports Fourth Quarter and Full Year 2020 Results

News Release
February 3, 2021

NORTHBROOK, Ill.–(BUSINESS WIRE)–Feb. 3, 2021– IDEX Corporation (NYSE: IEX) today announced its financial results for the quarter and year ended December 31, 2020.

2020 Highlights

  • Full year EPS of $4.94; adjusted EPS of $5.19
  • Full year cash from operations of $569 million, up 8 percent, resulting in record full year free cash flow of $518 million, up 9 percent
  • Record fourth quarter orders of $679 million were up 10 percent overall and 7 percent organically
  • Fourth quarter EPS of $1.32; adjusted EPS of $1.37
  • Announced the acquisition of Abel Pumps, L.P. and certain of its affiliates in January 2021

 

View full report at: https://investors.idexcorp.com/news-releases/news-release-details/idex-reports-fourth-quarter-and-full-year-2020-results

IDEX Corporation Appoints Lakecia N. Gunter to Board of Directors

Company News
February 1, 2021

IDEX Corporation today announced the appointment of Lakecia N. Gunter to the company’s Board of Directors.  The appointment of Ms. Gunter, effective immediately, increases the size of the board from 10 to 11 directors. She will serve on the board’s Compensation Committee.

Gunter currently serves as Vice President and General Manager of IoT (Internet of Things) Global and Strategic Engagement at Microsoft Corporation. She will bring a new level of technology and digital innovation expertise to the IDEX board.

“As we continue navigating further digitalization of our product and service offerings, including the select strategic incorporation of IoT technology, we look forward to the experienced guidance Lakecia will provide,” IDEX Chief Executive Officer and President Eric D. Ashleman said. “Innovation is literally the first initial in our name and continuing on that path today increasingly involves the intersection of new digital technologies with our highly engineered industrial products.”

“Lakecia’s strong business acumen, leadership development skills, strategic insights and customer orientation will expand the breadth of our board’s expertise. She’s a welcome addition who I’m confident will help propel IDEX forward,” Ashleman said.

To read the full announcement, click here

IDEX Foundation Receives $6 Million Infusion, Expands Mission

Company News
January 20, 2021

The IDEX Foundation, which was created to positively impact the communities in which IDEX people live and work, has announced an expanded mission accompanied by a contribution of $6 million from IDEX Corporation to support charitable efforts.

The funding infusion allows the Foundation to increase overall giving and add “Equity & Opportunity” – creating opportunities for under-served, disadvantaged people of color in our communities – as a lasting and fully-funded part of its mission.

“Foundation-funded volunteer projects continue to shape the fabric of our company culture, where great teams come together and contribute to the broader community. It’s part of who we are, and I couldn’t be prouder to help expand our ability to help,” IDEX CEO & President Eric Ashleman said.

The contribution means this important expansion of the mission won’t compete for funds with other charitable efforts. The Foundation’s annual charitable giving is expected to more than double.

While in-person efforts have been paused during the COVID-19 pandemic, foundation grants typically fund local projects led by volunteer teams from IDEX business units.

“I look forward to the days of once again regularly coming together as teams to build homes for the homeless, renovate community centers for kids and stuff backpacks with school supplies for local children,” Ashleman said.

 

 

 

IDEX Corporation to Acquire Abel Pumps L.P.

Company News
January 11, 2021

NORTHBROOK, Ill.–(BUSINESS WIRE)–Jan. 11, 2021– IDEX Corporation (NYSE:IEX) today announced that it has entered into a definitive agreement to acquire Abel Pumps, L.P., and certain of its affiliates (ABEL) from Hillenbrand, Inc. (NYSE: HI) for cash consideration of $103.5 million, before closing adjustments.

ABEL designs and manufactures highly engineered reciprocating positive displacement pumps for a variety of end markets, including mining, marine, power, water, wastewater and other general industries. The company’s diaphragm and high-pressure piston pumps serve harsh, demanding applications involving abrasive or corrosive substances and fluids with high solids content.

To view the full press release, click here

IDEX Corporation Announces Leadership Transition

Company News
October 27, 2020

NORTHBROOK, Ill.–(BUSINESS WIRE)–Oct. 27, 2020– IDEX Corporation (NYSE: IEX) today announced that Eric D. Ashleman has been appointed Chief Executive Officer, effective December 15, 2020. Mr. Ashleman has served as IDEX’s Chief Operating Officer since February 2015 and President since February 2020. He will continue to hold the title of President in his new position. This announcement follows the decision by Andrew K. Silvernail to step down as Chief Executive Officer and as a member of the IDEX Board of Directors, effective December 15, 2020, to pursue an opportunity at a privately held company. In connection with today’s announcement, Mr. Ashleman will join the IDEX Board on December 15, 2020.

The Company also announced today that William M. Cook has been named Non-Executive Chairman of the IDEX Board, effective December 15, 2020. Mr. Cook, who joined the IDEX Board in 2008, currently serves as Lead Independent Director and a Member of the Board’s Audit Committee.

To view the full press release, click here

 

IDEX Reports Third Quarter Results

News Release
October 27, 2020

NORTHBROOK, Ill.–(BUSINESS WIRE)–Oct. 27, 2020– IDEX Corporation (NYSE: IEX) today announced its financial results for the three month period ended September 30, 2020.

Third Quarter 2020 Highlights

  • Cash from operations of $153.7 million led to quarterly free cash flow of $135.3 million
  • Operating margin of 22.6%; adjusted operating margin of 23.1%
  • EPS of $1.37; adjusted EPS of $1.40
  • Adjusted EBITDA margin of 26.9%

 

View full report at: https://investors.idexcorp.com/news-releases/news-release-details/idex-reports-third-quarter-results

IDEX Reports Second Quarter Results

News Release
July 23, 2020

LAKE FOREST, Ill.–(BUSINESS WIRE)–Jul. 23, 2020– IDEX Corporation (NYSE: IEX) today announced its financial results for the three month period ended June 30, 2020.

Second Quarter 2020 Highlights

  • Cash from operations of $169.5 million led to record quarterly FCF of $161.1 million
  • Completed a public offering of $500 million 3.0% Senior Notes
  • Operating margin of 19.7%; adjusted operating margin of 21.1%
  • Adjusted EBITDA margin of 25.1%

 

View full report at: https://investors.idexcorp.com/news-releases/news-release-details/idex-reports-second-quarter-results

 

IDEX is Helping Battle COVID-19 in Many Ways

Company News
July 22, 2020

IDEX teams have come together to provide an impressive array of essential products and tools to aid in the global response to the coronavirus pandemic.

Some examples of the ways in which IDEX Health & Science Technologies’ companies are supporting the fight against the COVID-19 pandemic, include:

  • IDEX Health & Science designing and manufacturing fluidic and optical components used in Next-Generation DNA sequencing technology (NGS), which have sequenced the genome of COVID-19, a critical step toward testing for the virus, identifying potential treatments, and ultimately developing a vaccine.
  • IDEX Health & Science making degassers, manifolds, pumps, tubing and connections for Clinical Chemistry and Immunoassay blood analyzers used for patient results in COVID-19 testing.
  • IDEX Health & Science manufacturing microfluidic consumables and optical filters used by molecular diagnostic instruments to detect COVID-19.
  • IDEX Health & Science making microfluidic consumables used by testing instruments that detect high levels of immune system proteins, known as a “cytokine storm,” that causes a patient’s body to attack its own cells rather than fighting off the virus. This has been caused COVID-19 patients into a deadly downward spiral.
  • Precision Polymer Engineering (PPE) and Novotema manufacturing critical seals for medical respirators used in the treatment of critically ill COVID-19 patients.
  • Gast Manufacturing producing compressors that are critical components of hydrostatic disinfectant sprayers used in the cleaning of hospitals and other large facilities.
  • Microfluidics building microfluidizer processors, which are a key technology needed to make the nanoemulsions required for COVID-19 vaccines.
  • Steridose manufacturing magnetic mixers and valves used in pharmaceutical processes, including the production of vaccines.

 

IDEX Fluid & Metering Technologies (FMT) and Fire, Safety & Diversified (FSD) companies have also stepped up to help businesses remain operational and to provide aid to first responders. Examples include:

  • Pulsafeeder SPO shipping dosing pumps to disinfect wastewater, helping the Chinese government build two new hospitals in less than two weeks at the beginning of February.
  • BAND-IT providing clamps for 1,300 new ambulances and other vehicles for emergency medical transport to support China in February.
  • Warren Rupp supplying the world’s leading manufacturer of hand sanitizer, with nearly 30 SANDPIPER SSB2 Metallic Air Operated Double Diaphragm (AODD) Pumps to maximize production and enable the customer to create as much product as facilities could sustain
  • Vetter manufacturing decontamination tents for COVID-19 testing facilities and hospitals
  • Akron Brass and Hale partnering together to develop a portable system that, when paired with EPA-approved disinfectants, combats the spread of COVID-19 (SARS-CoV- 2).  The FS100 Portable Disinfectant Spraying System’s compact size makes it ideal for use in fire apparatus, ambulances, law enforcement vehicles and field hospitals, and the compact size makes it convenient for tight storage spaces.
  • The internationally diverse IDEX team from AWG in Germany and GODIVA in England joining forces to release the new SANISTREET FLEX sprayer and cleaning agent induction system. The SANISTREET FLEX system mounts on to a fire pump through the attachment of a delivery valve and enables fire fighters and first responders to disinfect larger outdoor areas.

 

IDEX Health & Science ships 5 millionth Semrock® optical filter as demand increases due to COVID-19

Company News
April 27, 2020

IDEX Health & Science (IH&S) recently announced it has reached a major milestone, shipping its 5 millionth Semrock optical filter. IH&S design and process control of Semrock optical filters provides the life science market with an important and robust component that has become widely accepted as the industry standard. More recently, Semrock optical filters have played a role in detecting (through PCR instruments) and monitoring (through sequencing instruments) the SARS-CoV-2 virus that causes COVID-19 resulting in a significant increase in demand.

Used to discriminate wavelengths of light, Semrock optical filters drive sensitivity of detection of fluorescent-labeled molecules. In life science applications like super-resolution microscopy, DNA sequencing, and hyperspectral imaging, the instrument interrogates the sample on a photon by photon basis and depends on the Semrock optical filter to precisely block or pass specific wavelengths of light. This is achieved by highly controlled molecular deposition methods and integrated design algorithms.

Founded in 2000, Semrock Inc. became a unit of IDEX Health & Science in 2015. The Semrock filter line is manufactured in the IH&S state-of-the-art facility in Rochester, New York. This manufacturing, research, and development center of excellence enables scalable growth for IDEX Health & Science’s optical components, sub-systems, and filters business lines. All Semrock optical filters are made with hard-coated sputtered thin-film coatings. Patented products include the BrightLine® fluorescence filters, RazorEdge® Raman spectroscopy filters, StopLine® notch filters, VersaChrome® tunable filters, Polarization bandpass filters, and PulseLine™ femtosecond optics.

“Supplying 5 million optical filters is a great achievement for our organization” said Joe Rytell, President of IDEX Health & Science. “But what’s most impressive is the role IH&S has played in supporting our customers whose instruments are being used 24/7 in the fight against this pandemic. I could not be more proud of our employees as they deliver on our mission and take care of each other during these extraordinary times. IH&S gives thanks to all its customers and key suppliers for helping to make this remarkable milestone possible during these challenging times.”

 

About IDEX Health & Science, LLC

IDEX Health & Science, LLC is the global leader in life science fluidics, microfluidics, and optics, offering a three-fold advantage to customers by bringing optofluidic paths to life with strategic partnerships, solutions, and expertise. As one of the few companies in the world with component, sub-system, and application level experts, IDEX Health & Science helps instrument developers solve the most demanding fluidic and optical challenges in a wide array of applications. At IDEX Health & Science we believe partnership will change the way the world innovates, leading to new technologies that improve our health, protect our planet, and enrich our lives. For more information visit: www.idex-hs.com  and at www.Semrock.com

IDEX Reports First Quarter Results

News Release
April 23, 2020

LAKE FOREST, Ill.–(BUSINESS WIRE)–Apr. 23, 2020– IDEX Corporation (NYSE: IEX) today announced its financial results for the three month period ended March 31, 2020.

First Quarter 2020 Highlights

  • Gross margin was 45.7 percent, up 10 bps
  • Increased backlog by $50 million
  • Completed the acquisition of Flow Management Devices, LLC on February 28, 2020

View full report at: https://investors.idexcorp.com/news-releases/news-release-details/idex-reports-first-quarter-results

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