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13:00
Jul 29 ◎

IEX FY2026 Q2 Watch

IDEX Corporation (IEX) FY2026 Q2 Earnings Call

IEX ▾

Eric Ashleman

Management expresses strong confidence, citing record orders, accelerated backlog visibility, and raising full-year guidance for growth, margin, and EPS.

"Taken together, our growing backlog gives us the confidence to raise our full-year 2026 financial outlook."

IEX WATCH

HIGH

13:00
Apr 29 ◎

IEX FY2026 Q1 Watch

IDEX Corporation (IEX) FY2026 Q1 Earnings Call

IEX VRT AMD MU ROK ▾

Eric Ashleman

Management is raising full-year guidance due to a strong order book, particularly in HST, with high visibility into 2027. Orders are growing 10% organically, and the tone is confident about sustained momentum in advantage markets (data centers, semiconductors, space/defense).

"The strong backlog build in HST improves our visibility to deliver continued solid growth for the balance of the year and into 2027."

IEX WATCH

Eric Ashleman

HST order growth of 17% is being driven by AI-related demand, including power generation for data centers and optical switching, and management has unusually high visibility into this backlog (up to 12 months) due to customers ramping aggressively. — The strong order visibility for AI-related components suggests data center buildouts are accelerating, with potential positive implications for other suppliers in the AI supply chain.

"You've got customers here that are trying to ramp pretty aggressively. And so they're giving us, as well as other suppliers, some good visibility to the road ahead to make sure that we are properly capitalized, we've got labor lined up,"

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Eric Ashleman

IDEX's short-cycle industrial order rates improved sequentially throughout Q1 (weak Jan, better Feb, strong March), holding in April, but the improvement is not uniform across their diagnostic businesses, indicating a mixed recovery rather than a broad inflection. — A mixed but improving short-cycle industrial environment suggests a gradual recovery, with some companies still cautious, likely due to geopolitical uncertainty.

"It was pretty soft in the beginning of the year, in January. It came back a bit in February, and it was a much stronger March. And then we've kind of stayed at that level here in April."

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Sean Gillen

FMT orders growth of 9% was led by the water platform (municipal stormwater and high-purity water for semiconductors), which flipped from a headwind to a tailwind, and mining, with some orders pulled forward from Q2. — The resurgence in high-purity water demand for semiconductor manufacturing indicates a continued recovery in the semiconductor capital equipment cycle, positively impacting suppliers like Applied Materials.

"We saw some notable bright spots in our mining and markets in the corner, as well as in just the overall pumps market. Some of that was a little bit of, you know, demand coming in Q1 that we might have expected in Q2."

SNPS WATCH AMAT WATCH

HIGH

14:00
Feb 04 ◎

IEX FY2025 Q4 Watch

IDEX Corporation (IEX) FY2025 Q4 Earnings Call

AIR VRT IEX ▾

Eric Ashelman

IDEX's new CFO Sean Gillen previously served as CFO at AAR Corp, highlighting his experience in driving profitable growth and executing M&A.

"Prior to joining IDEX, Sean served as CFO at AAR Corp for over seven years, and he brings extensive experience driving profitable growth, operational execution, and disciplined capital allocation."

AIR WATCH

Eric Ashelman

IDEX's HST segment saw 34% organic order growth in Q4 2025, driven by data center/AI buildouts, and management notes this momentum continued into January, indicating a potential inflection in demand for related capital equipment. — Sustained order momentum from IDEX, a supplier of critical components for data center cooling and power generation, suggests ongoing robust capital investment in AI infrastructure by hyperscalers.

"we've seen acceleration in order rates over the last year and a half, with our strongest mark coming in Q4 of 2025, with organic orders growth of 34%. ... January has been strong as well."

VRT WATCH

Sean Gillen

Guidance for 2026 implies modest organic growth, with strength in HST balanced by flat-to-declining performance in FMT and FSDP. The outlook reflects current visibility and cautious assumptions about broader industrial recovery.

"For the full year 2026, we expect organic growth of 1% to 2%. Our overall IDEX organic growth guidance balances approximate mid-single digit growth for HST and flat to slightly down outlooks for FMT and FSTP."

IEX WATCH

HIGH

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