Overview

• U.S. engineered products maker's Q1 sales rose 9%, beating analyst expectations

• Adjusted diluted EPS for Q1 rose 14%, beating analyst expectations

• Company raised full-year 2026 organic growth and adjusted EPS guidance

Outlook

• IDEX raises full-year 2026 organic sales growth outlook to 3%-4% from 1%-2%

• Company now sees 2026 adjusted diluted EPS of $8.35 to $8.55, up from $8.15-$8.35

• IDEX expects Q2 2026 organic sales to rise 3%-4% and adjusted EPS of $2.07-$2.12

Result Drivers

• HST SEGMENT GROWTH - Higher volumes in Health & Science Technologies, driven by AI-related demand for data center power and semiconductors, as well as strength in space and defense, boosted organic sales

• POSITIVE PRICING - Price increases contributed to sales growth across all segments

• GROSS MARGIN PRESSURE - Gross margin declined due to unfavorable mix and price/cost pressure, partly offset by productivity improvements

Company press release: ID:nBw6TZn85a

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Sales	Beat	$886.90 mln	$845.57 mln (12 Analysts)
Q1 Adjusted EPS	Beat	$2	$1.77 (12 Analysts)
Q1 EPS		$1.61
Q1 Adjusted Net Income	Beat	$148.60 mln	$132.57 mln (7 Analysts)
Q1 Adjusted EBITDA	Beat	$230.40 mln	$193.80 mln (2 Analysts)
Q1 Adjusted Gross Margin		44.90%

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the industrial machinery & equipment peer group is "buy"

• Wall Street's median 12-month price target for IDEX Corp is $225.00, about 9.6% above its April 28 closing price of $205.36

• The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 21 three months ago

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