IDEX : Q1 2026 IDEX Earnings Conference Call Earnings Slide Presentation

Published: 2026-04-30 13:47:06 ET IEX

Published on 04/30/2026 at 01:47 pm EDT

First Quarter 2026 Earnings

April 29, 2026

Deliver

ed better than expected top and bottom line results

Business portfolio pivot toward advantaged markets and integrated growth strategies driving record backlog in HST

Industrial businesses showing signs of stability/support, tracking external indicators

Raising FY26 outlook balancing strong 1Q results and momentum in key HST markets

8020 is driving growth and value-creation across IDEX

Airtech Valves

Growing In Advantaged Markets: Space & Defense

Optical Solutions

Porous Filtration & Flow Control

Durable Clamping

Optical sensing and communication components from the IDEX Materials Science Solutions platform include laser transmission of data through space, and satellite observation and reconnaissance systems.

Filtration and flow control solutions from Mott support propulsion and thermal management on missions changing the course of space exploration by enabling precise gas flow and diffusion in thrusters and propulsion feeds.

BAND-IT stainless steel clamping systems, trusted in aerospace for decades, continue to keep wiring and hose assemblies securely in place in harsh conditions, protecting critical components in aircraft, spacecraft and planetary rovers.

IDEX adapts quickly as a trusted partner, enabling fast-growing technologies

8020 Drives Growth

8020 informs our path to durable, long-term value creation in advantaged markets

80s Markets

Space & Defense, Semiconductor, Data Center

High-value, application-critical end markets where our expertise drives durable growth and deeper customer integration

8020 in Practice

Growth through focus over time

80s Customers

Global OEMs and select emerging providers of mission-critical technologies

80s Applications

Optical applications, lithography and metrology systems, gas purification, thermal management

Satellite & launch propulsion, and defense sensing & targeting

Note: "80s" refers to our focus areas; above reflects examples of targeted growth markets and applications

Q1 2026 Financial Performance

($ in millions excl. EPS)

+5% Organic*

+50 bps

Sales

Adj. EBITDA Margin*

Adj. EPS*

+14%

Free Cash Flow* (6%)

Better than expected 1Q26 results across IDEX

*This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and in our SEC filings. 6

Q1 2026: Health & Science Technologies

($ in millions)

Orders

+17% Organic*

Adj. EBITDA Margin

Sales

+11% Organic*

+100 bps y/y

Performance Highlights

Momentum and backlog building in businesses tied to advantaged markets

Seeing particularly strong demand in AI-driven areas (e.g., data center power generation, semiconductor), pharma, and space & defense

Adj EBITDA expanded driven mostly by positive volume leverage and price/cost, partially offset by unfavorable mix and acquisitions

Organic*

M&A

Y/Y ∆

Sales Growth

11%

17%

8020-driven pivot toward advantaged markets driving higher growth

*This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and in our SEC filings.

Q1 2026: Fluid & Metering Technologies

($ in millions)

Sales

+2% Organic*

Orders

+9% Organic*

Adj. EBITDA Margin

(10) bps y/y

Organic*

M&A

Y/Y ∆

Sales Growth

Sales and margin performance slightly better than expected

Performance Highlights

Leading indicator general industrial businesses signaling stability

Demand for FMT's water and mining applications remains strong, partially offset by softness in global chemical markets

Adj EBITDA margin declined slightly y/y as productivity improvements were offset mostly by mix and volume deleverage

*This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and in our SEC filings. 8

Q1 2026: Fire & Safety / Diversified Products

($ in millions)

Orders (4%) Organic*

Adj. EBITDA Margin

Sales (1%) Organic*

+30 bps y/y

Performance Highlights

Fire & Safety businesses seeing strong demand in North America and relative stability in Europe & Asia

BAND-IT mixed/stable industrial with strength in A&D; Dispensing experienced tough y/y comparisons but stability q/q

Adj EBITDA margin increased as strong productivity improvements more than offset mix and y/y volume deleverage

Organic*

M&A

Y/Y ∆

Sales Growth

(1%)

Strength in Fire & Safety counterbalanced with subdued spending in Dispensing markets

*This presentation contains non-GAAP financial information whose reconciliations are included in both this presentation and our SEC filings.

Capital Deployment

Maintaining a balanced and returns-oriented approach

Gross Leverage*

Capital Deployment ('25 vs. '26) IDEX Capital Deployment Framework

($ in millions)

2.2x

2.0x

$147

Maintain investment grade credit rating

Maintain flexible balance sheet

Gross leverage target < 2.0x

Organic growth investment

80s focus areas

Highest ROI opportunities

Opportunistic M&A

Integrating newly acquired businesses

Near-term focus on tuck-ins

Return capital to shareholders

Dividends and share repurchases

Flex depending on leverage and M&A actionability

$117

*Gross Leverage defined as Total Debt / TTM Adj. EBITDA 10

2026 Guidance Summary

2Q26

FY26

Current

FY26

Organic* Revenue Growth y/y

3.0% - 4.0%

1.0% - 2.0%

Adjusted EBITDA Margin*

26.5% - 27.0%

Adjusted EPS*

$2.07 - $2.12

$8.35 - $8.55

$8.15 - $8.35

Other Modeling Items:

FX Impact on Sales (a)

~0%

~0.5%

~1%

Acquisition / Divestiture Impact on Sales

~1%

~0.5%

Corporate / Unallocated Costs

~$26M

~$103-107M

$98-102M

Depreciation

~$21M

~$84M

Net Interest Expense

$16-17M

$65-67M

$65-68M

Tax Rate

~24%

Capital Expenditures

~$90M

FCF Conversion*

100%+

~100%

(a) - Based on 3/31/2026 FX Rate

Earnings per share estimates exclude all future acquisitions

*This presentation contains non-GAAP financial information. Reconciliations of non-GAAP measures are included in both this presentation or in our Q1'26 earnings release. Reconciliations of the Company's Free Cash Flow as a percentage of Adjusted Net Income guidance to the most directly comparable GAAP financial measures cannot be provided without unreasonable efforts and are not provided herein because of the inherent difficulty in forecasting and quantifying certain amounts

that are necessary for such reconciliations. 11

Differentiated 8020 operating model drives full business potential through simplification, focused resourcing and streamlined execution

Focused on continuously evolving our portfolio toward high-growth, advantaged markets with secular tailwinds

Balanced allocator of capital with strong deployable cash flow that supports M&A, dividends and share repurchases

Focused on delivering above-market organic growth and margins, amplified by strategic M&A to drive sustainable value creation

Advancing IDEX through strong execution and disciplined capital deployment

Non-GAAP Reconciliations

Table 1: Reconciliations of the Change in Net Sales to Organic Sales

HST

FMT

FSDP

IDEX

Three Months Ended March 31, 2026

Change in net sales

17%

Less:

Net impact from acquisitions/divestitures(1)

Impact from foreign currency(2)

Change in organic sales

11%

(1%)

(1) Represents the sales from acquired or divested businesses during the first 12 months of ownership or prior to divestiture.

(2) The portion of sales attributable to foreign currency translation is calculated as the difference between (a) the period-to-period change in organic sales, and (b) the period-to-period change in organic sales after applying prior period foreign exchange rates to the current year period.

Table 2: Reconciliations of Reported-to-Adjusted Net Income Attributable to IDEX and Diluted EPS Attributable to IDEX (in millions, except per share amounts)

Three Months Ended March 31,

2026

2025

Reported net income attributable to IDEX

120.0 $

95.5

Restructuring expenses and asset impairments

7.4

17.5

Tax impact on restructuring expenses and asset impairments

(1.7)

(4.1)

Gain on legal settlement(1)

(3.7)

Tax impact on gain of legal settlement

0.8

Acquisition-related intangible asset amortization

33.8

31.5

Tax impact on acquisition-related intangible asset amortization

(8.0)

(7.4)

Adjusted net income attributable to IDEX

148.6 $

133.0

Reported diluted EPS attributable to IDEX

1.61 $

1.26

Restructuring expenses and asset impairments

0.10

0.23

Tax impact on restructuring expenses and asset impairments

(0.02)

(0.05)

Gain on legal settlement(1)

(0.05)

Tax impact on gain of legal settlement

0.01

Acquisition-related intangible asset amortization

0.46

0.41

Tax impact on acquisition-related intangible asset amortization

(0.11)

(0.10)

Adjusted diluted EPS attributable to IDEX

2.00 $

1.75

Diluted weighted average shares outstanding 74.4 75.8

(1) Gain on legal settlement represents settlement funds received in excess of legal costs incurred related to a patent infringement lawsuit within the FMT segment.

Table 3: Reconciliations of Net Income to Adjusted EBITDA (dollars in millions)

Three Months Ended March 31,

2026 2025

Reported net income

119.9

95.4

Provision for income taxes

37.1

29.1

Interest expense - net

16.0

16.1

Depreciation

19.9

18.4

Amortization

33.8

31.5

Restructuring expenses and asset impairments

7.4

17.5

Gain on legal settlement(1)

(3.7)

Adjusted EBITDA

230.4

208.0

Adjusted EBITDA Components:

HST

106.0

87.4

FMT

98.7

95.3

FSDP

55.8

54.2

Corporate and other

(30.1)

(28.9)

Total Adjusted EBITDA

230.4

208.0

Net sales

886.9

814.3

Net income margin

13.5%

11.7%

Adjusted EBITDA margin

26.0%

25.5%

(1) Gain on legal settlement represents settlement funds received in excess of legal costs incurred related to a patent infringement lawsuit within the FMT segment.

Table 3: Reconciliations of Cash Flows from Operating Activities to Free Cash Flow (dollars in millions)

Three Months Ended March 31,

2026 2025

Cash flows from operating activities $ 103.7 $ 105.7

Less: Capital expenditures

17.7

14.3

Free cash flow

$ 86.0 $ 91.4

Reported net income attributable to IDEX

$ 120.0 $ 95.5

Adjusted net income attributable to IDEX

148.6 133.0

Operating cash flow conversion

86%

111%

Free cash flow conversion

58%

69%

Disclaimer

IDEX Corporation published this content on April 30, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 30, 2026 at 17:46 UTC.