IEX earnings analysis
What we found in IEX's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
IDEX Corporation reported strong financial results for Q1 2026, with revenues of $886.9 million surpassing expectations and up 9% year-over-year. Adjusted EPS also increased to $2.00, marking a 14% rise from Q1 2025. Segment growth was driven primarily by the Health & Science Technologies sector, while the Fluid & Metering segment saw modest growth, and the Fire & Safety segment experienced a slight decline.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong Revenue Growth
- Revenue reached $886.9 million, up 9% from $814.3 million in the prior year.
- EPS Beat Consensus
- Adjusted EPS of $2.00 surpassed estimates and increased 14% compared to $1.75 in Q1 2025.
- Segment Performance Positive
- Health & Science Technologies grew 17%, driven by strength in data centers and semiconductors.
- Healthy Operating Margins
- Gross margin stood at 44.9%, slightly down by 40 bps from the prior year, but operating income grew 21%.
- Free Cash Flow Remains Solid
- Free cash flow was reported at $86.0 million despite a slight decline year-over-year.
- Shareholder Returns Increased
- Returned $129.1 million to shareholders through repurchases and dividends.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Segment Volatility
- Fire & Safety/Diversified Products segment declined 2%, with lower volumes affecting growth.
- Rising Costs Impact Margins
- Gross margin decreased to 44.9% from 45.3%, affected by unfavorable product mix.
- Tariff Risks Remain
- Ongoing changes in tariffs following recent Supreme Court rulings could impact costs.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $2.0
- Gross margin
- 44.9%
- Operating margin
- 19.5%
- Segment
- Health & Science Technologies
- Segment
- Fluid & Metering Technologies
- Segment
- Fire & Safety/Diversified Products
What they said about what is next.
Outlook deferred to earnings press release / call.
The filing reads better than the one before it.
What came before.
- 10-K · February 19, 2026
- IDEX describes a strategy focused on niche, mission-critical engineered products, organic growth and strategic acquisitions (e.g., Micro-LAM acquired July 2025) and emphasizes decentralized operating units united by…
- 10-Q · October 29, 2025
- IDEX reported third-quarter net sales of $878.7 million and diluted EPS of $1.70 for the three months ended September 30, 2025. Revenue and segment Adjusted EBITDA were higher year-over-year (net sales up from $798.2M;…
- 10-K · February 20, 2025
- IDEX presents a diversified, niche-industrial strategy organized into three reportable segments (FMT, HST, FSDP) focused on organic growth plus strategic acquisitions. The 2024 10‑K highlights a roughly even…
- 10-Q · October 30, 2024
- IDEX reported third-quarter net sales of $798.2 million (up $4.8 million vs. Q3 2023) with gross profit of $353.9 million and diluted EPS of $1.57, down from $2.75 a year ago. Operating income declined to $168.0 million…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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