IDEX(US:IEX)2025-10-29 11:08Financial Performance - Record sales of $879 million increased 10% on a reported basis and 5% organically[4] - Reported diluted EPS of $1.70 increased 8%, and adjusted diluted EPS of $2.03 increased 7%[4] - Record orders of $880 million increased 13% on a reported basis and 7% organically[4] - Full year 2025 GAAP diluted EPS outlook narrowed to $6.35 - $6.40, with adjusted diluted EPS narrowed to $7.86 - $7.91[5] - Full year 2025 organic sales growth of approximately 1% remains unchanged[5] - Net sales for Q3 2025 reached $878.7 million, a 10.1% increase from $798.2 million in Q3 2024[22] - Basic earnings per share attributable to IDEX for Q3 2025 were $1.70, compared to $1.57 in Q3 2024, reflecting an increase of 8.3%[22] - The estimated change in net sales for the full year 2025 is projected to be between 5% and 6%, with organic sales expected to grow by 1%[35] - Estimated diluted EPS attributable to IDEX for 2025 is forecasted to be between $6.35 and $6.40, while adjusted diluted EPS is expected to range from $7.86 to $7.91[36] Segment Performance - Health & Science Technologies segment net sales increased 22% to $381 million, with organic sales up 10%[8] - Fluid & Metering Technologies segment net sales increased 5% to $317.1 million, with organic sales up 4%[11] - Fire & Safety/Diversified Products segment net sales decreased 3% to $181.9 million, with organic sales down 5%[15] - Health & Science Technologies segment reported net sales of $381.0 million in Q3 2025, a significant increase of 22.5% from $311.0 million in Q3 2024[28] Cash Flow and Income - Cash flows from operating activities were $203.5 million, with operating cash flow as a percent of net income at 159%[6] - The company reported net cash flows provided by operating activities of $470.9 million for the nine months ended September 30, 2025, down from $495.5 million in the same period of 2024[26] - Free cash flow for the three months ended September 30, 2025, was $188.7 million, with a free cash flow conversion rate of 123%[34] - Reported net income attributable to IDEX for the three months ended September 30, 2025, was $127.8 million, with adjusted net income rising to $152.8 million[32] - Net income attributable to IDEX for the nine months ended September 30, 2025, was $354.9 million, compared to $381.8 million for the same period in 2024, indicating a decrease of 7.5%[22] Margins and Profitability - Gross profit for Q3 2025 was $390.6 million, up from $353.9 million in Q3 2024, reflecting a gross margin improvement[22] - Adjusted gross profit for the same period was $391.2 million, resulting in an adjusted gross margin of 44.5%[32] - The company reported a net income margin of 14.5% for the three months ended September 30, 2025[33] Assets and Liabilities - Total assets as of September 30, 2025, were $6.97 billion, an increase from $6.75 billion at the end of 2024[24] - Cash and cash equivalents decreased to $593.8 million as of September 30, 2025, down from $620.8 million at the end of 2024[24] Restructuring and Expenses - The company incurred restructuring expenses of $18.3 million for the nine months ended September 30, 2025, compared to $5.4 million in the same period of 2024[22] - Restructuring expenses and asset impairments for the nine months ended September 30, 2025, amounted to $18.3 million[33] Other Factors - The impact from foreign currency translation on net sales was 1% for the three months ended September 30, 2025[31] - $75 million utilized for share repurchases in Q3 2025, with a total of $175 million year-to-date and increased share repurchase authorization to $1 billion[4] - Operating income for the nine months ended September 30, 2025, was $515.7 million, slightly up from $511.9 million in the same period of 2024[22]