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Company Research15 Apr 2024
The Industrial Machinery, Supplies, and Components Industry
Explore the industrial machinery industry's growth, driven by technology, sustainability, and digital transformation, impacting global economic development.
IDEX (IEX) investor relations material
IDEX Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary29 Oct, 2025
Executive summary
Achieved record Q3 2025 sales of $879M, up 10% year-over-year, with organic growth of 5% and strong execution amid macro uncertainty.
Adjusted diluted EPS rose 7% to $2.03; reported diluted EPS increased 8% to $1.70.
Strategic focus on integrating acquisitions, optimizing the portfolio, and leveraging the 80/20 operating model to drive sustainable growth.
Five thematic growth platforms now represent half of revenue, fueling organic growth above traditional industrial indexes.
Diversified business model and strong balance sheet support performance despite large order deferrals and limited near-term visibility.
Financial highlights
Q3 2025 net sales reached $879M, up 10% year-over-year; organic sales grew 5%, with 4% from M&A and 1% from FX.
Adjusted EBITDA margin expanded 40 bps to 27.3%; adjusted EBITDA was $239.8M.
Free cash flow for Q3 was $189M, with a 123% conversion rate; operating cash flow conversion was 159%.
Orders grew 7% organically, reaching a record $390M in HST; total record orders of $880M, up 13% year-over-year.
Adjusted net income for Q3 was $152.8M, up from $144.1M in Q3 2024.
Outlook and guidance
Full-year 2025 adjusted EPS guidance narrowed to $7.86–$7.91; GAAP diluted EPS expected at $6.35–$6.40.
Organic revenue growth for FY25 expected at 1%; adjusted EBITDA margin guidance at 26.5%–27.5%.
Free cash flow conversion targeted at least 100% for the full year.
Platform optimization and cost containment actions on track for $60M+ in annual savings.
Management remains cautious due to ongoing macroeconomic, geopolitical, and policy uncertainties.
What defines a 'complementary bolt-on' acquisition?
What drives FSDP's organic sales decline?
Impact of new tax legislation on future EPS?
M&A strategy shift: bolt-ons vs. large deals?
Phase III: How does it change growth algorithm?
Platform optimization savings: structural vs. temporal?
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Frequently asked questions
IDEX Corporation designs, manufactures, and markets engineered fluidics systems and specialty technical products. Its solutions include fluid and metering technologies, health and science instruments, and fire and safety equipment. The company serves a wide range of end markets including life sciences, energy, and industrial processing. It is headquartered in Northbrook, Illinois, and its shares are listed on the NYSE.
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