October 2021 - IDEX Corporation

IDEX Reports Record Third Quarter Results

News Release

October 26, 2021

IDEX Corporation (NYSE: IEX) today announced its financial results for the three month period ended September 30, 2021.

Third Quarter 2021 Highlights

Record orders of $774.2 million up 36 percent overall and 28 percent organically compared to Q3 2020
Record sales of $712.0 million up 23 percent overall and 15 percent organically compared to Q3 2020
Reported operating margin was 22.6 percent with adjusted operating margin of 24.3 percent
Record reported EPS was $1.51 with record adjusted EPS of $1.63
Full year adjusted EPS guidance narrowed to $6.30 to $6.33 compared to prior guidance of $6.26 to $6.36

View full report at: https://investors.idexcorp.com/news-releases/news-release-details/idex-reports-record-third-quarter-results

Fast & Fluid Management Asia Ships 100,000th Unit

Company News

October 14, 2021

Fast & Fluid Management (FFM) in Asia recently marked a significant milestone with its plant at Vadodara, India, shipping its 100,000^th unit since the introduction of its first paint tinting machine X-SMART nine years ago. Designed for simplicity in installation, operation, and service, the X-SMART is an automatic, compact paint dispenser for small paint retailers. This was followed by a successive series of products turning Fast & Fluid Management into a major player in the paints and coatings industry in the Asian market.

In a new video, team members reflect on the journey from developing the first X-SMART dispenser in 2012 to reaching the milestone today. The team achieved the 50,000^th unit shipment in 2018, and doubled shipments to 100,000 total since inception, less than 3 years later.

“Nothing, not even the challenges posed by the pandemic, could stop us from reaching this significant milestone. The credit goes both to our great team for sticking to their task in the face of all odds and our customers for continuing to repose faith in our ability to serve them,” said Balu Kuppuswamy, General Manager, Fast & Fluid Management Asia.

“Our women employees at the manufacturing shopfloor are skilled technicians certified through an Industrial technical course sponsored by the IDEX Foundation in 2016. Not only is this aligned with our motto of empowering the local community but also contributed significantly to achieving the milestone during these challenging times. We are committed to continue developing them in this journey “said Chiragi Thakor, Director HR, Fast & Fluid Management Asia.

With tireless focus on customers, the FFM team maintained a system to support quick turnaround times of 12-14 months between design and production without compromising quality. Additionally, the team provided endurance testing, and training to assembly technicians.

“This accomplishment is definitely the result of great teams at Fast & Fluid Management and IDEX Corporation with their combined efforts contributing to our growth story. We are proud of their efforts in making this happen,” said Ana Garcia, President Global Dispensing, IDEX Corporation.

The plant in India also exports paint tinting equipment to North America, Europe, the Middle East, Africa and Latin America. The company produces a complete range of paint dispensers, mixers, shakers, and software suitable for a wide range of applications, designed and developed in keeping with regional market trends.

IDEX Foundation Enters National Partnership with Boys & Girls Clubs of America

Company News

October 1, 2021

Teams at IDEX business units across the United States now have expanded opportunities to volunteer locally as part of a new partnership between Boys & Girls Clubs of America and the IDEX Foundation, the charitable giving extension of IDEX Corporation (NYSE: IEX). The national partnership is an outgrowth of successful relationships various IDEX business units have had with local Clubs for years.

The partnership, which includes financial support and opportunities for volunteerism at local Clubs, results from the IDEX Foundation adding “Equity & Opportunity” – creating opportunities for under-served, disadvantaged people of color in our communities – as an additional charitable pillar earlier this year.

“IDEX teams regularly perform volunteer work through local charities that impact their communities, with financial support from the IDEX Foundation. This new partnership will provide tailor made opportunities to do even more through the amazing work done every day at Clubs in the communities where we live and work,” said Derrick Goddard, president of the IDEX Foundation.

The IDEX Foundation’s decision to partner with Boys & Girls Clubs of America nationally fits with the organization’s mission to help empower young people to reach their full potential. Clubs are located near every IDEX business unit in the United States.

“Thank you to the IDEX Foundation, its business units and employees for supporting Boys & Girls Clubs of America as we continue our commitment to offering youth the resources they need to reach their full potential,” said Chad Royal-Pascoe, acting senior vice president, resource development for Boys & Girls Clubs of America. “It is through partnerships like this that we are able to fuel programs, experience and opportunities that help us to close the equity and opportunity gaps for kids and teens.”

About IDEX

IDEX (NYSE: IEX) is a company that has undoubtedly touched your life in some way. In fact, IDEX businesses make thousands of products that are mission-critical components in everyday activities. Chances are the car you’re driving has a BAND-IT® clamp holding your side airbag safely in place. If you were ever in a car accident, a Hurst Jaws of Life® rescue tool may have saved your life. If you or a family member is battling cancer, your doctor may have tested your DNA in a quest to find the best targeted medicine for you. It’s likely your DNA test was run on equipment that contains components made by our growing IDEX Health & Science team. Founded in 1988 with three small, entrepreneurial manufacturing companies, we’re proud to say that we now call over 40 diverse businesses around the world part of the IDEX family. With more than 7,000 employees and manufacturing operations in more than 20 countries, IDEX is a high-performing, global nearly $2.5 billion company committed to making trusted solutions that improve lives. IDEX shares are traded on the New York Stock Exchange under the symbol “IEX”.

For further information on IDEX Corporation and its business units, visit the company’s website at www.idexcorp.com.

About Boys & Girls Clubs of America

For 160 years, Boys & Girls Clubs of America (BGCA.org) has provided a safe place for kids and teens to learn and grow. Clubs offer caring adult mentors, fun and friendship, and high-impact youth development programs on a daily basis during critical non-school hours. Boys & Girls Clubs programming promotes academic success, good character and leadership, and healthy lifestyles. More than 4,700 Clubs serve over 4.3 million young people through Club membership and community outreach. Clubs are located in cities, towns, public housing and on Native lands throughout the country, and serve military families in BGCA-affiliated Youth Centers on U.S. military installations worldwide. National headquarters are located in Atlanta. Learn more about Boys & Girls Clubs of America on Facebook and Twitter.