IDEX Reports Strong Fourth Quarter and Record Full Year 2022 Results

News Release
January 31, 2023

Fourth Quarter Highlights

(All comparisons against the fourth quarter of 2021 unless otherwise noted)

  • Reported EPS of $1.71, up 10% and adjusted EPS of $2.01, up 18%
  • Orders of $803.4 million, up 1% overall and 1% organically
  • Sales of $810.7 million, up 13% overall and 12% organically
  • Net income of $130.0 million; net income margin of 16.0%, down 60 basis points
  • Adjusted EBITDA of $218.9 million; Adjusted EBITDA margin of 27.0%, up 10 basis points

Full Year Highlights

(All comparisons against full year 2021 unless otherwise noted)

  • Record reported EPS of $7.71, up 31% and record adjusted EPS of $8.12, up 18%
  • Record orders of $3.3 billion, up 8% overall and 5% organically
  • Record sales of $3.2 billion, up 15% overall and 13% organically
  • Net income of $586.7 million; net income margin of 18.4%, up 210 basis points
  • Record Adjusted EBITDA of $884.2 million; Adjusted EBITDA margin of 27.9%, up 20 basis points
  • Invested more than $1 billion for acquisitions, capital projects and share repurchases

“IDEX achieved another record year in 2022, and our teams continue to deliver on multiple fronts,” said
Eric D. Ashleman, IDEX Corporation Chief Executive Officer and President. “We expanded capacity and
throughput to better meet customer expectations. We applied focused innovation to solve tough problems
for our best customers, driving above-market performance and continued strong price capture while
deploying record capital to bring three high quality growth businesses into the portfolio to support our
future goals.”

“We anticipate 2023 will be an uncertain period of transition as we calibrate with customers to adjust to
compression within the end-to-end order fulfillment cycle as well as broader global macroeconomic shifts.
IDEX faces all of that within a short cycle framework which limits visibility, but supports quick adaptation
and business alignment. We continue to monitor conditions across our diverse portfolio of businesses
and expect to course-correct quickly as conditions warrant. Regardless of market conditions, we believe
IDEX teams are prepared to navigate the challenges and opportunities ahead.”

View full report at:

New Publications & Awards Highlight ADS® Preventing Sewer System Overflows

Company News
January 5, 2023

If undetected sewer system blockages result in back-ups and overflow, wastewater can pollute bodies of water, cause costly property damage, and jeopardize public health. The role ADS Environmental Services®, a unit of IDEX, plays in helping utilities and municipalities effectively manage wastewater systems is highlighted in recent articles and was the subject of a national award.

The New England Water Environment Association (NEWEA) Journal recently published an article about smart sewer technology, co-authored by our ADS colleagues Mike Bonomo and Kevin Enfinger. The article  outlines how data from smart sensors positioned throughout a sewer system, analyzed by a machine learning algorithm, can detect an emerging blockage before it grows to become a problem. This allows maintenance crews to remove the blockage before any harm is done. Learn more.

A new case study published by ADS (see attached) discusses how a large community-owned utility in Florida – one of the largest systems in the United States – is using ADS to optimize its sewer cleaning program, including a focus on 100 “hot spots” that have a history of needing more frequent cleaning because of blockages. With more than 3,900 miles of wastewater collection lines, over 1,300 pumping stations, and eleven wastewater treatment plants, the system handles more than 80 million gallons of wastewater every day. Using ECHO flow monitors connected through cellular network to cloud-based PRISM™ software, the utility reduced its work order volume by 35 percent. Learn more.

And from the southern hemisphere, the Australian Water Association awarded TasWater, WSP in Australia, and ADS Environmental Services the “Infrastructure Project Innovation Award” at the Tasmanian Water Awards.  The specific project was the Launceston Network Flow Survey and Hydraulic Model Build & Calibration.  The association stated, “The Launceston network monitoring and model calibration project has been a collaboration between TasWater and industry partners. It has delivered an accurate and predictive tool that will be utilised to plan and design significant projects within Launceston. The project has also significantly built the understanding and operational intelligence of Australia’s largest combined sewage network.” Learn more.

Melissa Aquino Leaving IDEX

Company News
January 4, 2023

Melissa Aquino, Senior Vice President, Group Executive for the Fluid & Metering Technologies (FMT) and Fire, Safety & Diversified (FSD)  segments has accepted a job opportunity outside of our organization. She is leaving IDEX effective January 4, 2023.

We are immediately resuming a search for her replacement in this important role leading two of our key segments.

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