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IDEX (IEX) investor relations material
IDEX Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved record Q2 2025 sales of $865.4M, up 7% year-over-year and 1% organically, with strong execution despite macro uncertainty and shifting customer demand.
Adjusted diluted EPS was flat at $2.07, while reported EPS declined 6% due to acquisition-related costs; net income margin was 15.1%.
Order patterns were volatile, with organic orders up 2% but large order decisions delayed amid policy and macro uncertainty.
Growth in data center, pharma, energy, and defense offset by weakness in chemicals, auto, semiconductor, and agriculture.
Focus remains on integrating acquisitions, platform optimization, and capital deployment for long-term growth.
Financial highlights
Q2 2025 net sales: $865.4M (+7% year-over-year); organic sales up 1%; adjusted EBITDA margin 27.4% (down 40 bps); gross margin 45.3%.
Adjusted EPS was $2.07 (flat year-over-year); reported EPS $1.74 (down 6%).
Free cash flow rose 25% year-over-year to $147M, with 94% conversion; operating cash flow as a percent of net income increased to 123%.
Net income attributable to shareholders was $131.6M, down from $141.3M in Q2 2024.
$50M in share repurchases in Q2, totaling $100M for the first half; $106M in dividends paid YTD.
Outlook and guidance
Full-year 2025 organic sales growth guidance reduced to ~1%; Q3 organic revenue growth expected at 2–3%.
Adjusted EPS guidance lowered to $7.85–$7.95 from $8.10–$8.45; GAAP EPS guidance $6.30–$6.44.
Q3 adjusted EPS expected at $1.90–$1.95; revenue to be flat sequentially.
2025 tariff impact estimated at $50M, with mitigation through price increases and supply chain savings.
On track for 100%+ free cash flow conversion in 2025.
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