HARDIN, Ill.--(BUSINESS WIRE)--Illinois American Water continues to make improvements in the Village of Hardin's water and wastewater systems, investing $2 million since June 2022. ...

Core Viewpoint - IDEX Corporation has experienced a significant decline from approximately $244 to $165 since April 2024, indicating a potential deeper issue as it may be entering the descent leg of its Himalayan Formation, with a target range of $110–115 [1][8]. Summary by Sections IDEX and the Cakra Formation - IDEX's stock has followed the Adhishthana Principles, entering a Cakra formation in Phase 4 back in 2002, which lasted over 5,300 days [2]. - The true inflection point occurs in Phase 9, leading to a decisive breakout that initiates the Himalayan Formation, a three-part sequence [2]. Ascent and Peak - In Phase 9, IDEX saw a significant surge of nearly 61%, reaching around $246, marking the culmination of the Himalayan ascent [3]. - The peak formation is expected to occur within the 18th or 23rd interval, and if not achieved, it is anticipated to happen in subsequent phases [3]. Decline - Following the peak, IDEX has sharply declined, consistent with the initiation of the descent leg of the Himalayan Formation [7]. - The descent leg typically targets the breakout origin of the Cakra, which for IDEX is near $115, indicating a potential downside risk [8]. Investor Outlook - The structural peak for IDEX appears firmly established, suggesting that the descent leg may continue until the stock revisits its breakout origin [9]. - Investors are advised to wait for signs of stabilization closer to the $115 region before initiating positions, while existing holders should reassess their exposure based on this cyclical outlook [11].

Group 1 - IDEX Corporation (NYSE:IEX) is considered an undervalued stock with a strong competitive advantage, making it a recommended buy [1][2] - The company has experienced significant growth, with a diversified business model that produces essential industrial components, allowing it to maintain cash flow even during market volatility [2][3] - IDEX has a robust M&A strategy that enhances its operational capabilities by integrating new skills and knowledge [3][4] Group 2 - IDEX operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP), providing a range of applied solutions [4] - The company has seen a 69.2% increase in holdings by Metzler seel. Sohn & Co. AG, indicating strong institutional interest [1]

A month has gone by since the last earnings report for Idex (IEX) . Shares have added about 1.1% in that time frame, underperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Idex due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important drivers.IDEX Q2 Earnings Surpass Estimates, Sales Increase Year Over YearIDEX’s ...

Key Takeaways IDEX faces softness in FMT, hurt by weak agriculture, energy, water and semiconductor markets.Selling, general and administrative expenses rose 11.4% year over year in Q2 2025.Strengthening U.S. dollar pressures margins abroad, adding forex risks to IDEX's performance.IDEX Corporation (IEX) failed to impress investors with its recent operational performance due to softness in the Fluid & Metering Technologies (FMT) segment and increasing selling, general and administrative expenses. Also, fore ...

Group 1 - The articles emphasize that they do not provide or publish investment advice and are opinion pieces only [1][3][4] - The authors express their personal opinions, which may change at any time without notice [1][2][3] - There is a clear statement that past performance is not indicative of future results, and no recommendations are made regarding investment suitability [4] Group 2 - The articles clarify that the authors have no current stock, option, or derivative positions in the companies mentioned and no plans to initiate such positions in the near future [2][4] - The content is produced by third-party authors, including both professional and individual investors, who may not be licensed or certified [4]

IDEX's Health & Science Technologies segment was the main growth engine. HST posted GAAP net sales of $365.3 million, up 20% from the year-ago period, with 4% organic growth. Most of this expansion came from integrating Mott Corporation, acquired in September 2024, which specializes in sintered porous metal filtration products. While HST's revenue leaped, its adjusted EBITDA margin slipped 170 basis points, reflecting the margin impact of the Mott deal and an unfavorable product mix, partly offset by produc ...

[Part I. Financial Information](index=4&type=section&id=Part%20I.%20Financial%20Information) [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Unaudited financial statements for H1 2025 show increased net sales but decreased net income and operating cash flow, with asset growth [Condensed Consolidated Statements of Income](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) Q2 and H1 2025 income statements show net sales growth but a decline in net income attributable to IDEX Q2 2025 vs Q2 2024 Income Statement Highlights (in millions USD) | Metric | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | Net sales | $865.4 | $807.2 | +7.2% | | Gross profit | $392.2 | $366.8 | +6.9% | | Operating income | $187.9 | $182.7 | +2.8% | | Net income attributable to IDEX | $131.6 | $141.3 | -6.9% | | Diluted EPS | $1.74 | $1.86 | -6.5% | H1 2025 vs H1 2024 Income Statement Highlights (in millions USD) | Metric | H1 2025 | H1 2024 | Change | | :--- | :--- | :--- | :--- | | Net sales | $1,679.7 | $1,607.7 | +4.5% | | Gross profit | $761.1 | $724.2 | +5.1% | | Operating income | $329.9 | $343.9 | -4.1% | | Net income attributable to IDEX | $227.1 | $262.7 | -13.5% | | Diluted EPS | $3.00 | $3.46 | -13.3% | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Balance sheets show total assets increased to **$6.88 billion**, while total liabilities decreased, and shareholders' equity grew Balance Sheet Summary (in millions USD) | Account | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $568.2 | $620.8 | | Inventories – net | $487.8 | $429.7 | | Goodwill | $3,368.6 | $3,251.7 | | Total assets | $6,876.1 | $6,745.3 | | **Liabilities & Equity** | | | | Total current liabilities | $529.8 | $629.7 | | Long-term borrowings – net | $1,847.1 | $1,859.5 | | Total liabilities | $2,865.7 | $2,951.2 | | Total shareholders' equity | $4,011.6 | $3,794.7 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) H1 2025 cash flow from operations decreased, while cash used in investing and financing activities significantly increased Six-Month Cash Flow Summary (in millions USD) | Cash Flow Activity | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Net cash from operating activities | $267.4 | $290.2 | | Net cash (used in) provided by investing activities | $(24.5) | $11.7 | | Net cash used in financing activities | $(349.2) | $(118.2) | | Net (decrease) increase in cash | $(68.9) | $166.4 | - The decrease in operating cash flow was primarily driven by a **$45.6 million increase in inventories**, compared to a $19.8 million increase in the prior year period[22](index=22&type=chunk) - Financing activities in H1 2025 included **$100.0 million for common stock repurchases** and **$100.0 million for payment of long-term borrowings**, activities not present or smaller in H1 2024[22](index=22&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail accounting policies, recent acquisitions, segment performance, restructuring expenses, and share repurchase activities [Note 2. Acquisitions and Divestitures](index=9&type=section&id=Note%202.%20Acquisitions%20and%20Divestitures) Details on the July 2025 Micro-LAM acquisition, the 2024 Mott acquisition, and the 2024 Alfa Valvole divestiture - On July 29, 2025, the Company acquired Micro-LAM, Inc. for **$90.0 million cash**, plus a potential earnout of up to **$12.0 million**, to be part of the Health & Science Technologies segment[30](index=30&type=chunk) - The acquisition of Mott Corporation in September 2024 for **$982.0 million** resulted in the recognition of **$488.2 million in goodwill** and **$412.8 million in intangible assets**[31](index=31&type=chunk)[32](index=32&type=chunk) - The company completed the sale of Alfa Valvole in June 2024 for proceeds of **$45.5 million**, recognizing a gain of **$4.6 million**[37](index=37&type=chunk) [Note 3. Business Segments](index=11&type=section&id=Note%203.%20Business%20Segments) Q2 2025 segment performance shows sales growth in HST and FSDP, a decline in FMT, and varied Adjusted EBITDA changes Segment Net Sales (Q2 2025 vs Q2 2024, in millions USD) | Segment | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Health & Science Technologies (HST) | $363.9 | $303.0 | | Fluid & Metering Technologies (FMT) | $310.5 | $318.9 | | Fire & Safety/Diversified Products (FSDP) | $191.0 | $185.3 | Segment Adjusted EBITDA (Q2 2025 vs Q2 2024, in millions USD) | Segment | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Health & Science Technologies (HST) | $95.0 | $84.2 | | Fluid & Metering Technologies (FMT) | $108.7 | $107.7 | | Fire & Safety/Diversified Products (FSDP) | $56.4 | $53.8 | [Note 8. Borrowings](index=19&type=section&id=Note%208.%20Borrowings) Total borrowings decreased to **$1.86 billion** due to debt repayment, with **$540.6 million** available under the revolving facility - Total borrowings decreased from **$1,971.3 million** at Dec 31, 2024 to **$1,857.9 million** at June 30, 2025[62](index=62&type=chunk) - The **$100.0 million 3.37% Senior Notes** were repaid upon maturity in June 2025 using cash on hand and a temporary draw on the Revolving Facility[62](index=62&type=chunk) - At June 30, 2025, the company had **$540.6 million of available borrowing capacity** under its Revolving Facility and was in compliance with all debt covenants[62](index=62&type=chunk) [Note 10. Restructuring Expenses and Asset Impairments](index=21&type=section&id=Note%2010.%20Restructuring%20Expenses%20and%20Asset%20Impairments) H1 2025 restructuring actions resulted in **$18.2 million** in pre-tax charges, primarily for severance, with more expected H1 2025 Restructuring Expenses by Segment (in millions USD) | Segment | Severance Costs | Total Charges | | :--- | :--- | :--- | | Health & Science Technologies | $11.4 | $12.1 | | Fluid & Metering Technologies | $4.2 | $4.2 | | Fire & Safety/Diversified Products | $1.6 | $1.6 | | Corporate/Other | $0.3 | $0.3 | | **Total** | **$17.5** | **$18.2** | - The 2025 restructuring initiative is designed to connect scalable groups of businesses, self-fund growth resources, improve agility, and position the company closer to customers[72](index=72&type=chunk) - An additional **$3 million to $7 million** in restructuring charges, primarily for severance, is expected in the remainder of 2025[73](index=73&type=chunk) [Note 12. Share Repurchases](index=23&type=section&id=Note%2012.%20Share%20Repurchases) In H1 2025, the company repurchased **0.5 million shares** for **$100.9 million**, with **$439.7 million** remaining for future repurchases - In H1 2025, the company repurchased **0.5 million shares** for **$100.9 million** (including taxes)[80](index=80&type=chunk) - As of June 30, 2025, the remaining share repurchase authorization was **$439.7 million**[80](index=80&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=30&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q2 2025 performance, highlighting sales growth from acquisitions, declining EPS, and changes in cash flow and liquidity [Overview](index=30&type=section&id=Overview) Q2 2025 saw record net sales and organic growth, but diluted EPS declined due to acquisition-related costs amid market uncertainty - Q2 2025 delivered strong operating performance despite persistent macroeconomic uncertainty[104](index=104&type=chunk) - Customer ordering patterns showed caution, with delays in larger commitments due to market uncertainty[105](index=105&type=chunk) Q2 2025 Financial Highlights | Metric | Value | Change vs Q2 2024 | | :--- | :--- | :--- | | Net Sales | $865.4M | +7% | | Organic Sales | - | +1% | | Reported Diluted EPS | $1.74 | -6% | | Adjusted Diluted EPS | $2.07 | Flat | [Results of Operations](index=31&type=section&id=Results%20of%20Operations) Q2 2025 net sales increased due to acquisitions, but higher SG&A and interest expenses led to a decline in net income - Net sales for Q2 2025 increased **7% YoY**, primarily due to contributions from the Mott acquisition, while organic sales increased **1%**[109](index=109&type=chunk) - SG&A expenses for H1 2025 increased by **$33.5 million** from acquisitions (net of divestitures), including amortization[111](index=111&type=chunk) - Net interest expense for Q2 2025 increased **93% to $15.6 million** due to higher debt outstanding used to finance the Mott acquisition[115](index=115&type=chunk) - The effective tax rate for Q2 2025 rose to **22.9%** from 21.2% in Q2 2024, primarily due to a less favorable impact from discrete tax items compared to the prior year[116](index=116&type=chunk) [Results of Reportable Business Segments](index=33&type=section&id=Results%20of%20Reportable%20Business%20Segments) Q2 2025 segment results show HST sales growth, FMT sales decline, FSDP sales growth, and varied Adjusted EBITDA margins - **HST Segment:** Q2 organic sales grew **4%**, driven by price, growth initiatives, and aerospace/defense volumes, though offset by weakness in semiconductor and industrial businesses; Adjusted EBITDA margin fell to **26.0%** due to the Mott acquisition and unfavorable mix[121](index=121&type=chunk) - **FMT Segment:** Q2 organic sales fell **2%** due to lower volumes in chemical, water, energy, and agriculture, partially offset by price; Adjusted EBITDA margin improved to **35.0%** from 33.7% due to positive price/cost and productivity[123](index=123&type=chunk) - **FSDP Segment:** Q2 organic sales grew **2%**, driven by strong North America Fire OEM demand, partially offset by timing of Dispensing projects; Adjusted EBITDA margin increased to **29.4%** from 29.0% due to positive price/cost[126](index=126&type=chunk)[127](index=127&type=chunk) [Liquidity and Capital Resources](index=36&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity with **$568.2 million** cash, despite decreased operating cash flow due to inventory increases Key Liquidity Metrics (June 30, 2025, in millions USD) | Metric | Value | | :--- | :--- | | Cash and cash equivalents | $568.2 | | Revolving Facility availability | $540.6 | | Working capital | $1,086.7 | - Operating working capital increased by **$61.9 million** since year-end 2024, primarily driven by a **$58.1 million increase in inventories** to support planned production[131](index=131&type=chunk) - Free cash flow for H1 2025 was **$238.3 million**, down from $254.3 million in H1 2024[137](index=137&type=chunk) - The company was in compliance with all debt covenants as of June 30, 2025, with a leverage ratio of **2.08 to 1** (maximum 3.50 to 1)[142](index=142&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=44&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes to market risks were reported since the last annual report - There have been no material changes with respect to market risks since the last annual report[155](index=155&type=chunk) [Controls and Procedures](index=44&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal controls - Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of June 30, 2025[157](index=157&type=chunk) - No material changes were made to the company's internal control over financial reporting during the second quarter of 2025[158](index=158&type=chunk) [Part II. Other Information](index=45&type=section&id=Part%20II.%20Other%20Information) [Legal Proceedings](index=45&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal proceedings, including asbestos-related lawsuits, not expected to have a material adverse effect - The company and its subsidiaries are defendants in numerous asbestos-related personal injury lawsuits[162](index=162&type=chunk) - The majority of settlement and legal costs for asbestos claims have been covered by insurance, and the company does not currently expect a material adverse effect from these proceedings[162](index=162&type=chunk) [Risk Factors](index=45&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors were reported since the last annual report - No material changes to risk factors were reported since the last annual report[163](index=163&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=45&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) In Q2 2025, the company repurchased **268,586 shares** for **$186.16 per share**, with **$439.7 million** remaining for future repurchases Share Repurchases for Q2 2025 | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | April 2025 | — | $— | | May 2025 | 268,586 | $186.16 | | June 2025 | — | $— | | **Total** | **268,586** | **$186.16** | - The approximate dollar value that may yet be purchased under the plans is **$439.7 million** as of the end of the quarter[164](index=164&type=chunk) [Other Information](index=45&type=section&id=Item%205.%20Other%20Information) The Board adopted amended bylaws effective July 28, 2025, and no Rule 10b5-1 trading plans were adopted or terminated - The company's Board adopted amended and restated bylaws effective July 28, 2025[165](index=165&type=chunk) - Key amendments enhance procedures for stockholder nominations and proposals and align with developments in Delaware law[168](index=168&type=chunk) - No directors or executive officers adopted or terminated Rule 10b5-1 trading plans during the quarter ended June 30, 2025[167](index=167&type=chunk) [Exhibits](index=47&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including bylaws, CEO/CFO certifications, and iXBRL financial data - Filed exhibits include Amended and Restated Bylaws (3.1), CEO/CFO Certifications (31.1, 31.2, 32.1, 32.2), and iXBRL data files (101, 104)[169](index=169&type=chunk)

Core Viewpoint - IDEX Corporation reported strong second-quarter 2025 results with adjusted earnings of $2.07 per share, exceeding estimates and reflecting stable performance year-over-year [1][9] Revenue Details - IDEX's net sales reached $865.4 million, surpassing the Zacks Consensus Estimate of $857 million, marking a 7% increase year-over-year [2][9] - Organic sales grew by 1% year-over-year, while acquisitions/divestitures contributed positively by 5% [2] - The Fluid & Metering Technologies segment reported net sales of $310.9 million, down 3% year-over-year [2] - The Health & Science Technologies segment saw net sales of $365.3 million, up 20% year-over-year, driven by strong organic growth and acquisitions [3] - The Fire & Safety/Diversified Products segment achieved net sales of $191.5 million, increasing 3% year-over-year [4] Margin Profile - Cost of sales increased by 7.4% year-over-year to $473.2 million, with adjusted gross profit rising to $392.2 million, up 6.9% [5] - Adjusted EBITDA was $237.2 million, reflecting a 5.7% increase year-over-year, while the adjusted EBITDA margin decreased to 27.4% [5][6] - Operating income rose to $187.9 million, up 2.8% year-over-year, with an operating margin of 21.7% [6] Balance Sheet and Cash Flow - At the end of Q2, IDEX had cash and cash equivalents of $568.2 million, down from $620.8 million at the end of Q4 2024 [7] - Long-term borrowings decreased to $1.85 billion from $1.9 billion at the end of Q4 2024 [7] - In the first half of 2025, IDEX generated net cash of $267.4 million from operating activities, down 7.9% year-over-year [8] Outlook - For Q3 2025, IDEX anticipates adjusted earnings in the range of $1.90-$1.95 per share and organic sales growth of 2-3% [11] - For the full year 2025, adjusted earnings are expected to be between $7.85-$7.95 per share, indicating a slight increase from 2024 [12]

Company Performance - Idex (IEX) reported quarterly earnings of $2.07 per share, exceeding the Zacks Consensus Estimate of $2 per share, and showing a slight increase from $2.06 per share a year ago, resulting in an earnings surprise of +3.50% [1] - The company achieved revenues of $865.4 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 0.96% and increasing from $807.2 million year-over-year [2] - Over the last four quarters, Idex has consistently surpassed consensus EPS estimates and topped revenue estimates three times [2] Future Outlook - The sustainability of Idex's stock price movement will largely depend on management's commentary during the earnings call and the company's earnings outlook [3][4] - The current consensus EPS estimate for the upcoming quarter is $2.20 on revenues of $872.66 million, and for the current fiscal year, it is $8.24 on revenues of $3.45 billion [7] - The estimate revisions trend for Idex was favorable ahead of the earnings release, resulting in a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Manufacturing - General Industrial industry, to which Idex belongs, is currently ranked in the top 10% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]