Core Insights - IDEX Biometrics ASA has released its interim report for Q1 2024, highlighting its focus on biometric smart cards and the introduction of IDEX Pay and IDEX Access as part of its scalable biometric platform [1][2] - The company is supporting its pipeline of committed customers as they prepare for biometric card launches, with the first IDEX Pay cards now entering the market [3][4] - A successful private placement of 33.3 million shares was conducted, raising NOK 55 million (approximately USD 5.1 million), with plans for a subsequent rights offering of up to 8.0 million shares [6] Company Developments - The company is positioned as a full solution provider in the biometric smart card market, with a strong emphasis on security solutions that are expected to drive demand [5] - IDEX Biometrics is collaborating with card manufacturers and technology companies to enhance the commercialization of biometric solutions globally [4][5] - The CEO, Vince Graziani, will present the interim report in a webcast, indicating ongoing engagement with investors and stakeholders [1] Financial Highlights - The private placement was executed at NOK 1.65 per share, slightly below the previous closing price of NOK 1.75 per share, indicating a strategic move to raise capital [6] - The gross proceeds from the placement will support the company's initiatives in the biometric card market [6]

Group 1 - The company IDEX Biometrics ASA announced a private placement of shares raising approximately NOK 55 million at a subscription price of NOK 1.65 per share [1] - A possible subsequent offering is planned, aiming to raise up to NOK 13.2 million at the same subscription price, pending approval by an Extraordinary General Meeting [1] - The Extraordinary General Meeting is expected to be held on or about 12 June 2024 to approve the subsequent offering [1][2] Group 2 - The terms and conditions of the repair issue were announced on 15 May 2024, with the last day including rights being the same date [2] - The ex-date for the offering is set for 16 May 2024, and the record date is 21 May 2024 [2] - The maximum number of new shares to be issued in the subsequent offering is 8,000,000 at a subscription price of NOK 1.65 [2]

Core Viewpoint - IDEX Biometrics ASA has issued 40,900 incentive subscription rights to a new contractor as part of its 2023 incentive plan, with an exercise price of NOK 1.80 per share and a vesting schedule of 25% per year over four years [1]. Group 1: Company Actions - The board of directors resolved to grant subscription rights under the company's 2023 incentive subscription rights plan, approved at the annual general meeting on 23 May 2023 [1]. - The subscription rights will expire on 23 May 2028, and there are currently 17,514,625 subscription rights outstanding in IDEX Biometrics [1]. Group 2: Company Overview - IDEX Biometrics ASA is a global leader in fingerprint biometrics, providing authentication solutions for payments, access control, and digital identity [2]. - The company's biometric solutions are based on patented sensor technologies and target card-based applications for payments and digital authentication [2]. - IDEX partners with leading card manufacturers and technology companies to bring its solutions to market, enhancing convenience and security for users [2].

Core Viewpoint - IDEX Biometrics ASA has successfully completed a private placement of new shares, raising NOK 55 million, which will be utilized for commercialization, product development, and working capital needs [3][4]. Private Placement Details - The private placement was significantly oversubscribed, leading to an increase in the offering size to NOK 55 million, with 33,333,333 new shares issued at NOK 1.65 per share [3][16]. - The private placement is divided into two tranches: Tranche 1 consists of 28,012,655 shares, while Tranche 2 includes 5,320,678 shares, pending approval at an extraordinary general meeting [8][12]. Financial Performance - For Q1 2024, revenues were USD 0.4 million, down from USD 1.2 million in Q1 2023, reflecting a shift from component to solution sales [7]. - The gross margin for Q1 2024 was reported at 36%, with operating expenses at USD 6.1 million, a decrease from USD 7.7 million in the same quarter of the previous year [7]. - The cash balance as of March 31, 2024, was USD 3.0 million [7]. Operational Efficiency - The company aims to reduce quarterly operating expenses to below USD 4.0 million by the end of June 2024 and below USD 3.0 million by the end of September 2024, targeting approximately USD 2.5 million in quarterly cash operating expenses [5]. Market Developments - The company announced several bank launch partnerships in Asia and Europe, including DenizBank in Turkey and Mutual Trust Bank in Bangladesh, as well as new market entries in South Asia [6]. - The company is expanding its biometric solutions, including mobile enrollment SDKs and partnerships with card manufacturers [6]. Future Offerings - A subsequent repair offering of new shares at the same offer price will be directed towards existing shareholders who were not allocated shares in the private placement, with a maximum amount of NOK 13.2 million [17].

Financial Data and Key Metrics Changes - First quarter sales were $801 million, down 5% overall and down 6% organically, with a 13% organic decrease in Health & Science Technologies (HST) and a 3% organic decrease in Fluid & Metering Technologies (FMT) [10] - First quarter gross margin was 44.6%, declining 60 basis points, while adjusted gross margin was 45%, contracting 20 basis points due to lower volume leverage [11] - First quarter adjusted EBITDA margin was 26%, down 120 basis points, but showed a sequential improvement versus the fourth quarter [11][94] - First quarter net income was $121 million, generating EPS of $1.60, while adjusted net income was $143 million with adjusted EPS of $1.88, down $0.21 from the prior year [88] Business Line Data and Key Metrics Changes - The Health & Science Technologies segment experienced a 13% organic decrease, while the Fluid & Metering Technologies segment saw a 3% organic decrease [10] - Fire & Safety/Diversified Products (FSDP) grew by 2% organically, driven by strength in dispensing and emerging markets [10][92] - Adjusted EBITDA margins improved 40 basis points over the fourth quarter, but there was a year-over-year decline of 250 basis points driven by volume leverage [94] Market Data and Key Metrics Changes - The energy business remained stable with favorable infrastructure tailwinds, while agricultural businesses continued to be cyclically down [16] - The semiconductor market showed signs of improvement, with orders increasing year-over-year and compared to the fourth quarter [93] - The company noted that the HST industrials are steady, indicating a recovery in certain markets [93] Company Strategy and Development Direction - The company aims to leverage its differentiated technologies in high-growth markets, particularly in life sciences and analytical instrumentation [18][90] - There is a focus on expanding technical capabilities through M&A to support semiconductor technologies and national defense [9] - The company is committed to driving organic growth outperformance and expanding margins through disciplined acquisitions [87][106] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing economic and geopolitical uncertainties but expressed confidence in the company's ability to navigate these challenges [4] - The management team remains focused on monitoring signs of recovery in life sciences and analytical instrumentation, with readiness to capitalize on growth opportunities [90] - The outlook for the second quarter projects GAAP EPS to range from $1.75 to $1.80, with organic revenue decline of approximately 2% to 3% [103] Other Important Information - The company achieved a free cash flow of $137 million, up 13% over the prior year period, with a conversion rate of 95% of adjusted net income [88] - The company is maintaining its full-year outlook of organic revenue growth of zero to 2% and adjusted EBITDA margin of approximately 28% [104] Q&A Session Summary Question: What is the outlook for the semiconductor market? - Management indicated that the semiconductor market has high single-digit growth potential, with early signs of improvement expected in the back half of the year [50][78] Question: How do you view the normalization of margins in HST? - Management expects margins to normalize closer to 30% once volumes return, particularly in life sciences and semiconductor markets [20][56] Question: What are the expectations for price versus cost in 2024? - The company anticipates a price/cost spread of 80 to 100 basis points, which is higher than historical levels [136] Question: Can you provide insights on the M&A pipeline? - Management noted that valuations remain high for quality targets, but they are disciplined in their approach to acquisitions [72][73] Question: How is the company positioned for future growth? - Management expressed confidence in the company's positioning within high-quality niches and the ability to capitalize on technological advancements [151][158]

Financial Performance - IDEX reported Q1 2024 sales of $801 million, a decrease of 6% organically compared to Q1 2023[29] - Adjusted EBITDA margin for Q1 2024 was 26%, a decrease of 120 bps compared to Q1 2023's 27.2%[29] - Adjusted EPS for Q1 2024 was $1.88, a decrease of 10% compared to Q1 2023's $2.09[29] - Free cash flow for Q1 2024 was $137 million, an increase of 13% compared to Q1 2023's $121 million[29] Segment Performance - Health & Science Technologies (HST) - HST orders decreased by 2% organically in Q1 2024[4] - HST sales decreased by 13% organically in Q1 2024[4] - Adjusted EBITDA margin for HST was 26.2% in Q1 2024, a decrease of 250 bps[4] Segment Performance - Fire & Safety / Diversified Products (FSDP) - FSDP orders increased by 10% organically in Q1 2024[7] - FSDP sales increased by 2% organically in Q1 2024[7] - Adjusted EBITDA margin for FSDP increased by 40 bps to 28.9% in Q1 2024[8] Segment Performance - Fluid & Metering Technologies (FMT) - FMT sales decreased by 3% organically in Q1 2024[34] - Adjusted EBITDA margin for FMT was 33.6% in Q1 2024, an increase of 60 bps[42,44] 2024 Guidance - The company estimates full year 2024 adjusted diluted EPS to be in the range of $8.15 to $8.45[46] - The company estimates full year 2024 net sales to be in the range of $3,320.3 million to $3,385.6 million[46]

Part I. Financial Information [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The company's unaudited condensed consolidated financial statements for Q1 2024 show key performance metrics [Condensed Consolidated Statements of Income](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) Net sales and net income declined in Q1 2024 compared to the prior-year period Q1 2024 vs Q1 2023 Income Statement Highlights | Metric | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | | :--- | :--- | :--- | | Net sales | $800.5 million | $845.4 million | | Gross profit | $357.4 million | $382.5 million | | Operating income | $161.2 million | $192.3 million | | Net income attributable to IDEX | $121.4 million | $139.8 million | | Diluted EPS attributable to IDEX | $1.60 | $1.84 | [Condensed Consolidated Statements of Comprehensive Income](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) Comprehensive income significantly decreased due to a negative cumulative translation adjustment Q1 2024 vs Q1 2023 Comprehensive Income | Metric | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | | :--- | :--- | :--- | | Net income | $121.3 million | $139.8 million | | Other comprehensive (loss) income | $(64.4) million | $37.0 million | | Comprehensive income attributable to IDEX | $57.0 million | $176.8 million | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets slightly increased while total liabilities decreased as of March 31, 2024 Balance Sheet Summary | Metric | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Total current assets | $1,554.5 million | $1,446.3 million | | Total assets | $5,889.4 million | $5,865.2 million | | Total current liabilities | $460.6 million | $500.3 million | | Total liabilities | $2,271.1 million | $2,324.0 million | | Total shareholders' equity | $3,618.6 million | $3,541.4 million | [Condensed Consolidated Statements of Equity](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Equity) Total equity increased, driven by net income but partially offset by translation adjustments - Total equity increased to **$3,618.3 million** at March 31, 2024, from $3,541.2 million at December 31, 2023[22](index=22&type=chunk) - This change was primarily due to net income of **$121.3 million**, offset by a negative cumulative translation adjustment of **$64.3 million**[22](index=22&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities increased, contributing to a higher cash balance at the end of Q1 2024 Q1 2024 vs Q1 2023 Cash Flow Summary | Metric | Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | | :--- | :--- | :--- | | Net cash from operating activities | $156.6 million | $147.9 million | | Net cash used in investing activities | $(20.0) million | $(29.2) million | | Net cash used in financing activities | $(41.0) million | $(45.2) million | | Net increase in cash | $82.0 million | $80.5 million | | Cash and cash equivalents at end of period | $616.3 million | $510.7 million | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) This section details accounting policies, acquisitions, segment performance, and other financial data [Note 2. Acquisitions](index=9&type=section&id=Note%202.%20Acquisitions) The company details two acquisitions from 2023 within the Health & Science Technologies segment - On May 19, 2023, the Company acquired Iridian Spectral Technologies for **$109.8 million** in cash, recognizing **$52.7 million** in goodwill and **$45.6 million** in intangible assets[31](index=31&type=chunk) - On December 14, 2023, the Company acquired STC Material Solutions for **$200.4 million** in cash, recognizing **$104.5 million** in goodwill and **$92.3 million** in intangible assets[33](index=33&type=chunk) - In Q1 2024, the company recorded a **$2.5 million** fair value inventory step-up charge in Cost of Sales related to the 2023 acquisition of STC[37](index=37&type=chunk) [Note 3. Business Segments](index=11&type=section&id=Note%203.%20Business%20Segments) The company reports performance across its three segments: FMT, HST, and FSDP Segment Performance - Three Months Ended March 31 | Segment | Net Sales 2024 | Net Sales 2023 | Adjusted EBITDA 2024 | Adjusted EBITDA 2023 | | :--- | :--- | :--- | :--- | :--- | | Fluid & Metering Technologies | $313.7 M | $321.8 M | $105.4 M | $106.2 M | | Health & Science Technologies | $310.1 M | $351.0 M | $81.4 M | $100.7 M | | Fire & Safety/Diversified Products | $178.0 M | $174.4 M | $51.4 M | $49.7 M | [Note 4. Revenue](index=13&type=section&id=Note%204.%20Revenue) Revenue is disaggregated by geography, with the U.S, Europe, and Asia as the top three markets Revenue by Geographical Region (Q1 2024) | Region | Net Sales (in millions) | | :--- | :--- | | U.S. | $397.6 | | Europe | $207.9 | | Asia | $131.1 | | North America (ex-U.S.) | $29.3 | | Other | $35.9 | - Revenue from products and services transferred at a point in time constituted approximately **95% of total revenue** for the first quarters of both 2024 and 2023[46](index=46&type=chunk) [Note 7. Goodwill and Intangible Assets](index=16&type=section&id=Note%207.%20Goodwill%20and%20Intangible%20Assets) Goodwill decreased due to foreign currency translation, and no impairment was recorded in Q1 2024 - The carrying amount of goodwill decreased by **$35.3 million** in Q1 2024, from $2,838.3 million to $2,803.0 million, mainly due to a **$35.8 million** negative impact from foreign currency translation[55](index=55&type=chunk) - **No impairment** of goodwill or indefinite-lived intangible assets was recorded as of the last annual test on October 31, 2023, and no interim impairment test was required during Q1 2024[55](index=55&type=chunk)[56](index=56&type=chunk) Estimated Future Amortization Expense | Period | Estimated Amortization (in millions) | | :--- | :--- | | Remainder of 2024 | $72.5 | | 2025 | $95.3 | | 2026 | $93.7 | | 2027 | $90.4 | | 2028 | $87.3 | [Note 8. Borrowings](index=18&type=section&id=Note%208.%20Borrowings) Total borrowings remained stable, and the company maintained significant available borrowing capacity - As of March 31, 2024, total borrowings were **$1,330.9 million**, and the company had approximately **$717.8 million** in available borrowing capacity under its Revolving Facility[58](index=58&type=chunk) [Note 11. Share Repurchases](index=20&type=section&id=Note%2011.%20Share%20Repurchases) No shares were repurchased during the first quarter of 2024 - No share repurchases were made in the first three months of 2024, with **$539.7 million** remaining under the repurchase program authorization as of March 31, 2024[66](index=66&type=chunk) [Note 12. Share-Based Compensation](index=20&type=section&id=Note%2012.%20Share-Based%20Compensation) Share-based compensation expense slightly increased compared to the prior-year period Share-Based Compensation Expense (Pre-tax) | Award Type | Q1 2024 Expense | Q1 2023 Expense | | :--- | :--- | :--- | | Stock options | $5.4 million | $6.0 million | | Restricted stock | $2.0 million | $1.6 million | | Cash-settled restricted stock | $1.9 million | $1.1 million | | Performance share units | $5.1 million | $5.2 million | | **Total** | **$14.4 million** | **$13.9 million** | [Note 15. Income Taxes](index=25&type=section&id=Note%2015.%20Income%20Taxes) The effective tax rate decreased in Q1 2024 due to a discrete tax benefit Income Tax Provision and Effective Rate | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Provision for income taxes | $33.2 million | $40.0 million | | Effective tax rate | 21.5% | 22.2% | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a 5% decrease in net sales and a 9% decrease in Adjusted EBITDA for Q1 2024 [Overview](index=26&type=section&id=Overview) The company faced market softness in Q1 2024, resulting in lower sales but strong free cash flow Q1 2024 Financial Highlights vs. Q1 2023 | Metric | Q1 2024 | Q1 2023 | % Change | | :--- | :--- | :--- | :--- | | Net sales | $800.5 M | $845.4 M | (5%) | | Change in organic net sales | | | (6%) | | Net income attributable to IDEX | $121.4 M | $139.8 M | (13%) | | Adjusted EBITDA | $208.3 M | $229.8 M | (9%) | | Diluted EPS attributable to IDEX | $1.60 | $1.84 | (13%) | | Adjusted diluted EPS | $1.88 | $2.09 | (10%) | | Free cash flow | $136.6 M | $121.3 M | 13% | [Results of Operations](index=27&type=section&id=Results%20of%20Operations) Net sales decreased 5% year-over-year due to a 6% organic decline from lower volumes - Q1 2024 net sales decreased **5% YoY**, reflecting a **6% organic sales decline** from lower volumes, particularly in Health & Science Technologies, partially offset by a 1% increase from acquisitions and price capture[91](index=91&type=chunk) - Gross profit and margin decreased due to lower volume leverage and higher employee-related costs, partially offset by **strong price/cost dynamics** and operational productivity[92](index=92&type=chunk) - The effective tax rate decreased to **21.5%** from 22.2% in the prior year, primarily due to benefits from finalizing tax impacts of a previous legal entity restructuring[97](index=97&type=chunk) [Results of Reportable Business Segments](index=28&type=section&id=Results%20of%20Reportable%20Business%20Segments) The HST segment saw a significant sales decline, while FSDP grew and FMT saw a modest decline Segment Contribution (Q1 2024) | Segment | % of Net Sales | % of Adjusted EBITDA | | :--- | :--- | :--- | | FMT | 39% | 44% | | HST | 39% | 34% | | FSDP | 22% | 22% | [Fluid & Metering Technologies Segment](index=29&type=section&id=Fluid%20%26%20Metering%20Technologies%20Segment) FMT segment net sales decreased by 3% organically, but Adjusted EBITDA margin expanded - Organic net sales were negatively impacted by lower volumes in industrial markets, partially offset by **price capture**[106](index=106&type=chunk) [Health & Science Technologies Segment](index=29&type=section&id=Health%20%26%20Science%20Technologies%20Segment) HST segment sales declined 13% organically due to lower volumes from market slowness and inventory recalibration - Organic net sales were negatively impacted by lower volumes in analytical instrumentation, life sciences, and semiconductor markets, largely due to **inventory recalibration** and market slowness[104](index=104&type=chunk) - Organic Adjusted EBITDA margin decreased due to lower volume leverage, higher employee-related costs, and unfavorable mix, despite **favorable productivity** and strong price/cost[105](index=105&type=chunk) [Fire & Safety/Diversified Products Segment](index=30&type=section&id=Fire%20%26%20Safety%2FDiversified%20Products%20Segment) FSDP segment net sales grew 2% organically, driven by price capture with flat volumes - Organic net sales were positively impacted by **price capture** across all markets, with volumes remaining flat period over period[110](index=110&type=chunk) [Liquidity and Capital Resources](index=30&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a strong liquidity position with significant cash reserves and available credit Key Liquidity Metrics (March 31, 2024) | Metric | Value | | :--- | :--- | | Working capital | $1,093.9 million | | Current ratio | 3.4 to 1 | | Cash and cash equivalents | $616.3 million | | Revolving Facility availability | $717.8 million | - Operating working capital increased by **$9.2 million** to $678.1 million at March 31, 2024, driven by higher receivables and inventories[110](index=110&type=chunk)[111](index=111&type=chunk) - The company was in compliance with its key financial covenants, with an interest coverage ratio of **18.48 to 1** (vs minimum 3.0 to 1) and a leverage ratio of **1.49 to 1** (vs maximum 3.50 to 1)[121](index=121&type=chunk) [Free Cash Flow](index=31&type=section&id=Free%20Cash%20Flow) Free cash flow increased due to higher operating cash flow and lower capital expenditures Free Cash Flow Reconciliation | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Cash flows from operating activities | $156.6 M | $147.9 M | | Less: capital expenditures | $20.0 M | $26.6 M | | **Free cash flow** | **$136.6 M** | **$121.3 M** | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=37&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) There have been no material changes to the market risks disclosed in the 2023 Annual Report - There were **no material changes** in market risks from those disclosed in the 2023 Annual Report on Form 10-K[136](index=136&type=chunk) [Item 4. Controls and Procedures](index=37&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2024 - Based on an evaluation as of March 31, 2024, the CEO and CFO concluded that the company's disclosure controls and procedures were **effective**[138](index=138&type=chunk) - **No changes** in internal control over financial reporting occurred during the most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, these controls[139](index=139&type=chunk) Part II. Other Information [Item 1. Legal Proceedings](index=38&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in ordinary legal proceedings, including asbestos-related lawsuits not expected to be material - The company and its subsidiaries are defendants in several asbestos-related personal injury lawsuits, which management does **not currently believe will have a material adverse effect** on the company's financial position or results[143](index=143&type=chunk) [Item 1A. Risk Factors](index=38&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors disclosed in the 2023 Annual Report - There were **no material changes** in risk factors from those disclosed in the 2023 Annual Report on Form 10-K[144](index=144&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=38&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No common stock was repurchased in Q1 2024, with $539.7 million remaining under the authorization Share Repurchase Activity (Q1 2024) | Period | Total Number of Shares Purchased | Average Price Paid per Share | Approximate Dollar Value Remaining Under Plans | | :--- | :--- | :--- | :--- | | Jan 2024 | 0 | $— | $539,689,117 | | Feb 2024 | 0 | $— | $539,689,117 | | Mar 2024 | 0 | $— | $539,689,117 | | **Total** | **0** | **$—** | **$539,689,117** | [Item 5. Other Information](index=38&type=section&id=Item%205.%20Other%20Information) No directors or executive officers adopted or terminated Rule 10b5-1 trading plans in Q1 2024 - **No directors or executive officers** adopted or terminated any Rule 10b5-1 trading plans during the quarter ended March 31, 2024[146](index=146&type=chunk) [Item 6. Exhibits](index=39&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including required certifications

IDEX Corporation’s (IEX) first-quarter 2024 adjusted earnings of $1.88 per share surpassed the Zacks Consensus Estimate of $1.75. The bottom line decreased approximately 10.1% from the year-ago quarter’s figure of $2.09. However, it exceeded management’s projection of $1.70-$1.75 per share.Revenue DetailsIn the quarter under review, IDEX’s net sales of $800.5 million underperformed the Zacks Consensus Estimate of $805 million.  The top line also decreased 5.3% year over year. Organic sales in the quarter de ...

For further information: TRADED: NYSE (IEX) EX-99.1 Investor Contact: Wendy Palacios Vice President FP&A and Investor Relations (847) 498-7070 IDEX REPORTS FIRST QUARTER RESULTS AND CONFIRMS FULL YEAR GUIDANCE Full Year and Second Quarter 2024 Outlook NORTHBROOK, IL, April 23, 2024 - IDEX Corporation (NYSE: IEX) today announced its financial results for the three-month period ended March 31, 2024. "Our IDEX teams delivered solid results in the first quarter, expanding margins within our Fluid & Metering Tec ...

For the quarter ended March 2024, Idex (IEX) reported revenue of $800.5 million, down 5.3% over the same period last year. EPS came in at $1.88, compared to $2.09 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $804.97 million, representing a surprise of -0.56%. The company delivered an EPS surprise of +7.43%, with the consensus EPS estimate being $1.75.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expect ...