ReElement Technologies stock soars after securing $1.4B government deal
Investing.com - IDEX Corporation (NYSE:IEX) on Wednesday reported better-than-expected third quarter results on Tuesday, with adjusted earnings and revenue exceeding analyst estimates as the company navigated an uncertain economic environment.
The industrial manufacturer posted adjusted earnings of $2.03 per share for the third quarter, surpassing the analyst consensus of $1.93. Revenue reached $878.7 million, exceeding expectations of $861.4 million and representing a 10% increase on a reported basis and 5% organically compared to the same period last year.
"Our IDEX teams executed well in the third quarter, delivering solid results in an uncertain macroeconomic environment," said Eric D. Ashleman, IDEX Corporation Chief Executive Officer and President.
"We are focused squarely on what we can control as we leverage our 8020 approach to drive momentum within our growth platforms."
The company reported record orders of $880 million, up 13% on a reported basis and 7% organically from the prior year.
IDEX’s Health & Science Technologies segment led growth with a 22% sales increase, while Fluid & Metering Technologies grew 5%. The Fire & Safety/Diversified Products segment saw a 3% decline.
IDEX narrowed its full-year 2025 earnings guidance to $7.86-$7.91 per share on an adjusted basis, compared to the analyst consensus of $7.88. The company maintained its organic sales growth forecast of approximately 1% for the full year.
The manufacturer continued its share repurchase program, utilizing $75 million for buybacks in the third quarter and $175 million year-to-date. IDEX also increased its share repurchase authorization to $1 billion.
"We support our growth efforts with a balanced capital deployment strategy, prioritizing allocation towards the highest return areas," Ashleman added. "In the near-term, we expect to continue our focus on returning capital to shareholders as we optimize our growth platform playbook and execute complementary bolt-on acquisitions."
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.