IDEX Corporation Reports Record Q3 2026 Results and Raises Full-Year Guidance

IDEX Corporation (NYSE: IEX) Q3 2026 Earnings Analysis

IDEX Corporation filed Form 8-K under Item 2.02 (Results of Operations and Financial Condition), furnishing its financial results for the quarter ended September 30, 2026.

Key Financial Highlights

• Net Sales: Reached a record $951.7 million, representing an 8% increase compared to $878.7 million in Q3 2025 (8% organic growth).
• Orders: Bookings grew 13% reported and organic to $991.2 million, up from $880.3 million in the prior-year period.
• Profitability:
  • GAAP Diluted EPS: $1.95, up 15% from $1.70 in Q3 2025.
  • Adjusted Diluted EPS: $2.33, an increase of 15% compared to $2.03 in Q3 2025.
  • Adjusted EBITDA: $264.8 million (+10% YoY), with margin expanding 50 bps to 27.8%.
• Cash Flow: Cash flow from operating activities was $239.5 million, up 18% YoY. Free cash flow totaled $214.3 million with a free cash flow conversion rate of 124%.
• Capital Returns: Returned $129 million to shareholders via dividends and share repurchases.

Segment Breakdown

• Health & Science Technologies (HST): Sales of $433.5 million (+14% reported, +13% organic); Adjusted EBITDA of $124.8 million (+18%), margin expanded 110 bps to 28.8%.
• Fluid & Metering Technologies (FMT): Sales of $327.9 million (+3% reported, +4% organic); Adjusted EBITDA of $111.0 million (+4%), margin expanded 20 bps to 33.9%.
• Fire & Safety / Diversified Products (FSDP): Sales of $191.5 million (+5% reported, +6% organic); Adjusted EBITDA of $54.5 million (+11%), margin expanded 140 bps to 28.5%.

Updated FY 2026 Guidance

Management raised full-year projections:

• Organic Sales Growth: 6.5% to 6.8% (previously 5.0% to 6.0%).
• Adjusted Diluted EPS: $8.91 to $8.96 (previously $8.70 to $8.85), indicating ~12% year-over-year growth at the midpoint.