“Pump Report” YouTube Series Entertains While Teaching Core Pumping Concepts

Company News
February 7, 2024

Interested in understanding more about how pumps work? Our IDEX colleague Chad Wunderlich is your guy.

An engineer who manages distributor development at Viking Pump, Chad has been part of teaching in-person “Pump School” sessions and producing educational videos for years from their headquarters in Iowa (USA).

In Viking’s older videos, you’d typically only see Chad’s hands. That changed a couple of years ago, when Digital Media Manager Joe Barloon suggested positioning Chad on camera as a presenter. And so, the “Pump Report” was born on YouTube.

While some inquiries from the videos have led directly to sales, the approach is more about brand building. Chad explains to viewers in simple terms how different kinds of pumps work, including Rotary Lobe, Vane, Circumferential Piston Pump, Internal Gear and External Gear pumps. And he explains concepts, like how to calculate flow rate.

“You never know what’s going to be a hit,” Chad said.

Some of their most popular videos include:

The videos have also helped new employees learn about the company during the application and on-boarding process. Even students will watch and reference their videos when researching science projects, with the Viking Pump videos appearing first in many common pump related video searches.

“People will watch a three-minute video more than they’ll read a three-page script,” Chad said.

With pumps of myriad sizes and specifications central to so many IDEX products, consider learning a little about these concepts, regardless of your role. You can check out the entire playlist of Viking Pump videos on YouTube.

New IDEX Fire & Safety Partnership Sparks Hilariously Creative Marketing Campaign

Company News
February 7, 2024

You might not equate emergency response with comedy. But a series of Instagram and LinkedIn videos featuring IDEX Fire & Safety (F&S) products has tens of thousands of followers busting out laughing.  

F&S recently established a partnership with veteran-owned coffee shop Fire Department Coffee, a longtime champion of first responders, firefighters and veterans.  

The Illinois-based coffee shop showcases IDEX F&S products in fun, comedic skits on their large social media channels. Their videos feature products such as the SAM Smart Nozzle and HURST Jaws of Life Cutters. 

Snapshot of Instagram Post

While Fire Dept. Coffee is committed to first responders; they are also dedicated to creating great tasting coffee. They created Hale and HURST-themed coffee flavors, Midnight Rescue and the SAM BOOST, acknowledging IDEX F&S as essential to communities globally.  

More recently, veterans of the armed forces at IDEX F&S received goodie bags from the shop with ground coffee, swag and a special message for Veterans’ Day. 

IDEX Reports Fourth Quarter and Full Year 2023 Results

News Release
February 6, 2024

Fourth Quarter Highlights
(All comparisons against the fourth quarter of 2022 unless otherwise noted)

  • Sales of $789 million, down 3% overall and 6% organically
  • Reported diluted EPS of $1.43, down 16%; adjusted diluted EPS of $1.83, down 9%
  • Strong operating cash flow of $201 million, up 20%; free cash flow of $179 million, up 22%
  • Completed acquisition of STC Material Solutions on December 14, 2023 for $202 million

Full Year Highlights
(All comparisons against full year 2022 unless otherwise noted)

  • Record reported sales of $3.3 billion, up 3% overall and down 1% organically
  • Record reported diluted EPS of $7.85, up 2%; record adjusted diluted EPS of $8.22, up 1%
  • Record operating cash flow of $717 million, up 29%; record free cash flow of $627 million, up 28%
  • Invested approximately $425 million for acquisitions, capital projects and share repurchases

NORTHBROOK, IL, FEBRUARY 6, 2024 – IDEX Corporation (NYSE: IEX) today announced its
financial results for the quarter and year ended December 31, 2023.

“IDEX businesses weathered an unprecedented year of global recalibration, which played out differently
across our segments. Our team’s agility and core execution capabilities, combined with the quality of our
underlying assets, enabled us to deliver strong results in a challenging environment,” said Eric D.
Ashleman, IDEX Corporation Chief Executive Officer and President.

“Now, the majority of our end markets are stable, supporting the early stages of focused organic growth
to drive our next chapter of outperformance. However, the timing of market recovery within our Life
Sciences and Analytical Instrumentation businesses remains uncertain, moderating our overall full year
growth outlook.”

“We continue to aggressively pursue inorganic opportunities within advantaged, fast-growing markets, as
demonstrated by our purchase of STC Material Solutions in December. Our funnel of potential
acquisitions is strong and our efforts are well supported by ample capacity on our balance sheet.”

2024 Outlook
Full year 2024 organic sales growth is projected to be 0% to 2% over the prior year, with GAAP diluted
EPS of $7.15 to $7.45 (adjusted diluted EPS of $8.15 to $8.45).
First quarter 2024 organic sales are projected to decline 6% to 7% from the prior year period, with GAAP
diluted EPS of $1.45 to $1.50 (adjusted diluted EPS of $1.70 to $1.75).

View the full report: https://investors.idexcorp.com/news-releases/news-release-details/idex-reports-fourth-quarter-and-full-year-2023-results

IDEX Teams Bring Holiday Cheer to Their Communities

Company News
December 14, 2023

Polymer Precision Engineering Enlists International Leader to Help Save Christmas

This year, the team at Polymer Precision Engineering (PPE) in Blackburn, England, has given hundreds of volunteer hours to their local foodbank. The time commitment coupled with regular donations of essential food and toiletries has supported a vital community service for those in need.


The winter holidays are one of Blackburn Foodbank’s busiest times of the year. So, PPE organized a special donation drive over the months of November and December to collect essential items. To distribute the items, they called on a legendary figure known for spreading hope and joy… 

https://www.linkedin.com/posts/precision-polymer-engineering-limited_ppe-christmas-video-2023-in-support-of-blackburn-activity-7138855091305869312-zrQM?utm_source=share&utm_medium=member_desktop

Fluid Management Donates to the Families of Instituto

Fluid Management employees joined Instituto del Progreso Latino in Chicago on Saturday, December 9, for their annual Family Toy Drive to benefit children who often don’t receive gifts during the holidays due to financial hardships.

The effort to support Instituto was a two-part volunteer event. Employees first collected and wrapped over 100 toys at their facility. One week later, seven employees attended the Toy Drive in the Little Village neighborhood of Chicago to serve as Santa’s helpers. They built gingerbread houses with the kids, passed out toys to families and facilitated a drive-through pickup option. In addition to collecting gifts and donating their time, the team also donated $10,000 USD to Instituto through the IDEX Foundation.

IDEX Health & Science Coordinates a Special Delivery

Employees at the Oak Harbor IH&S site north of Seattle brought some early holiday cheer to their local community food bank. Volunteers assembled holiday baskets for North Whidbey Help House, which the local team has supported for many years. They also helped load up vehicles to deliver the baskets to those in need.

IDEX Completes STC Material Solutions Acquisition

News Release
December 14, 2023

IDEX today completed its previously-announced acquisition of STC Material Solutions (STC), an integrated provider of advanced material science solutions.

STC specializes in the design and manufacturing of technical ceramics and hermetic sealing products for the most extreme, mission critical applications. The company has relationships with leading manufacturers in the semiconductor, aerospace and defense, industrial technology, medical technology, and energy sectors. Headquartered in St. Albans, Vermont, STC also has operations in Santa Ana, California.

“STC Material Solutions fits our growth strategy well, with strong IDEX qualities, including great teams with technical and domain expertise who develop and build highly-engineered products that command a premium,” IDEX Chief Executive Officer and President Eric Ashleman said. “STC expands our growing material science expertise, affording opportunities to collaborate with other IDEX critical components businesses on comprehensive solution sets for customers.”

IDEX continues to put its strong balance sheet to work, prioritizing the identification and completion of high-quality acquisitions focused on expanding our expertise into dynamic markets that support our future vision and growth strategy.

IDEX purchased STC from Artemis for cash consideration of $206 million USD, subject to customary post-closing adjustments. IDEX funded the acquisition using cash on hand and proceeds from its revolving credit facility. STC will be included in the Health & Science Technologies (HST) segment.

IDEX Corporation Names Allison Lausas as Interim Chief Financial Officer

News Release
August 30, 2023

NORTHBROOK, IL (August 30, 2023) – IDEX Corporation (NYSE:IEX) announced today the appointment of Allison S. Lausas as interim Chief Financial Officer of the company, following the resignation of Senior Vice President and Chief Financial Officer William K. Grogan who is leaving IDEX to pursue a new professional opportunity. Both changes are effective September 15, 2023.

Ms. Lausas joined IDEX two years ago as Vice President and Chief Accounting Officer, and she will continue to serve in the role as well during this interim period. Prior to joining the company, from 2011 to 2021, Ms. Lausas held positions of increasing responsibility at SunCoke Energy, Inc., including most recently as interim Senior Vice President, Chief Financial Officer and Controller. Earlier in her career, she worked for KPMG for nine years, where she developed an extensive business and accounting background. Ms. Lausas received her Bachelor of Science degree in Accountancy, Master of Accounting Science and MBA from Northern Illinois University and is a certified public accountant.

“I have great confidence in Allison’s expertise to lead our financial functions during this interim period. She has made great contributions in her time with IDEX, and we are fortunate to have her as an essential member of our talented finance team,” IDEX CEO and President Eric Ashleman said.

Mr. Ashleman also thanked Bill, saying, “I hired Bill initially as my operating finance partner within a small piece of IDEX. Over almost twelve years of service, seven years as CFO, he has helped our broader team create tremendous value for stakeholders. Most importantly, he has led by example and built a high-performance finance organization grounded in our cultural values.”

“As both a colleague and a friend, I wish him nothing but great things as he takes this next step in his career,” Mr. Ashleman said.

IDEX has begun a search to consider both internal and external candidates for the Chief Financial Officer role.

About IDEX

IDEX (NYSE: IEX) makes thousands of products and mission-critical components that improve everyday life all around you. If you enjoy chocolate, it quite possibly passed through a Viking® internal gear pump at the candy factory. If you were ever in a car accident, emergency workers may have used the Hurst Jaws of Life® rescue tool to save your life. If your doctor ordered a DNA test to predict your risk of disease or determine a course of treatment, the lab may have used equipment containing components made by IDEX Health & Science. Founded in 1988 with three small, entrepreneurial manufacturing companies, we’re proud to say that we now call over 50 diverse businesses around the world part of the IDEX family. With more than 8,500 employees and manufacturing operations in more than 20 countries, IDEX is a high-performing, global company with over $3.1 billion in annual sales, 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.

Investor Contact

IDEX Corporation
Allison Lausas

Vice President and Chief Accounting Officer

+1 847-498-7070

investorrelations@idexcorp.com

Media Contact:

IDEX Corporation

Mark Spencer

+1 847-457-3793

mdspencer@idexcorp.com

###

IDEX Reports Record Second Quarter Results; Lowers Full Year Guidance in Response to Softening Second Half Outlook

News Release
July 26, 2023

Second Quarter 2023 Highlights

(All comparisons are against the second quarter of 2022 unless otherwise noted)

  • Record sales of $846.2 million, up 6% overall and 3% organically
  • Reported EPS of $1.82, up 1% and record adjusted EPS of $2.18, up 8%
  • Strong operating cash flow of $141 million, up 26%; free cash flow of $120 million, up 24%
  • Completed acquisition of Iridian Spectral Technologies on May 19, 2023

NORTHBROOK, Ill.–(BUSINESS WIRE)–Jul. 26, 2023– IDEX Corporation (NYSE: IEX) today announced its financial results for the three month period ended June 30, 2023.

“IDEX achieved record sales and adjusted earnings per share in the second quarter,” said Eric D. Ashleman, IDEX Corporation Chief Executive Officer and President. “Our view on core IDEX industrial markets continues to hold as inventory and backlog recalibrates in line with our supply chain improvements and lead time reductions. Our Fluid & Metering and Fire & Safety / Diversified Products businesses delivered strong organic growth and profitability within this environment.”

“Our businesses within our Health & Science Technologies segment remained challenged, impacted by customers’ sharp inventory recalibration and demand softness after two years of double-digit growth. At this point we no longer expect market recovery within the second half of the year. Our teams are appropriately balanced as they execute targeted cost reductions to mitigate a portion of these volume declines, drive strong cash flow overall, and continue to innovate for our customers.”

“Regardless of macroeconomic fluctuations, we remain focused on initiatives to drive long-term growth. IDEX continues to be well positioned in markets with strong secular growth trends and critical technologies that enable above-market performance over an economic cycle. Our balance sheet is strong and provides ample capacity to fund our disciplined capital deployment strategy.”

2023 Outlook
Full year 2023 organic sales are projected to decline 1 to 2 percent over the prior year, with GAAP EPS of $6.80 – $6.90 (adjusted EPS of $7.90 – $8.00).

Third quarter 2023 organic sales are projected to decline 7 to 8 percent over the prior year period, with GAAP EPS of $1.60 – $1.65 (adjusted EPS of $1.84 – $1.89).

Full Press Release

IDEX Corporation Completes Acquisition of Iridian Spectral Technologies

News Release
May 24, 2023

Northbrook, Illinois (May 22, 2023) – IDEX Corporation (NYSE:IEX) today announced that it has completed its previously-announced acquisition of Iridian Spectral Technologies (“Iridian”), a global leader in designing and manufacturing thin-film, multi-layer optical filters.

Based in Ottawa, Ontario, Canada, Iridian has proven expertise in optical filter design and production, serving the laser communications, telecommunications, and life sciences markets. Iridian provides support throughout a product’s lifecycle, from initial prototyping to high-volume manufacturing. It offers advanced, proprietary thin-film design deposition and manufacturing technology of durable, high-performance filter optics.

“The addition of Iridian expands our already strong array of optical technology offerings and aligns with our company’s strategic growth plans,” IDEX Chief Executive Officer and President Eric Ashleman said. “We welcome the Iridian team to IDEX, where they will increase our offerings in core markets we serve now and allow us to expand into new ones.”

Iridian joins IDEX Optical Technologies (CVI Laser Optics, CVI Infrared Optics, and Advanced Thin Films) within Scientific Fluidics & Optics in IDEX’s Health & Science Technology segment. Iridian will also be a strong partner in the life science filters business driven by the Semrock team of IDEX Health & Science.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements regarding the expected benefits of the acquisition of Iridian, the expected impact of the acquisition on IDEX’s product offerings or proposed product offerings, the enhancement of IDEX’s business strategy, and expected growth opportunities. These statements are subject to inherent uncertainties and risks that could cause actual results to differ materially from those anticipated at the date of this press release. The risks and uncertainties include, but are not limited to, the following: levels of industrial activity and economic conditions in the U.S. and other countries around the world, including uncertainties in the financial markets and adverse developments affecting the financial services industry; pricing pressures, including inflation and rising interest rates, and other competitive factors and levels of capital spending in certain industries, all of which could have a material impact on order rates and IDEX’s results; the impact of health epidemics and pandemics and terrorist attacks and wars, including the ongoing conflict between Russia and Ukraine, which could have an adverse impact on IDEX’s business by creating disruptions in the global supply chain and by potentially having an adverse impact on the global economy; IDEX’s ability to integrate Iridian and to acquire, integrate and operate other acquired businesses on a profitable basis; the relationship of the U.S. dollar to other currencies and its impact on pricing and cost competitiveness; political and economic conditions in foreign countries in which IDEX operates; developments with respect to trade policy and tariffs; interest rates; capacity utilization and the effect this has on costs; labor markets; supply chain backlogs, including risks affecting component availability, labor inefficiencies and freight logistical challenges; market conditions and material costs; risks related to environmental, social and corporate governance issues, including those related to climate change and sustainability; and developments with respect to contingencies, such as litigation and environmental matters. Additional factors that could cause actual results to differ materially from those reflected in the forward-looking statements include, but are not limited to, the risks discussed in the “Risk Factors” section included in IDEX’s most recent annual report on Form 10-K and IDEX’s subsequent quarterly reports filed with the Securities and Exchange Commission (“SEC”) and the other risks discussed in IDEX’s filings with the SEC. The forward-looking statements included here are only made as of the date of this press release, and management undertakes no obligation to publicly update them to reflect subsequent events or circumstances, except as may be required by law. Investors are cautioned not to rely unduly on forward-looking statements when evaluating the information presented here.

About IDEX

IDEX Corporation (NYSE: IEX) makes thousands of products and mission-critical components that improve everyday life all around you. If you enjoy chocolate, it quite possibly passed through a Viking® internal gear pump at the candy factory. If you were ever in a car accident, emergency workers may have used the Hurst Jaws of Life® rescue tool to save your life. If your doctor ordered a DNA test to predict your risk of disease or determine a course of treatment, the lab may have used equipment containing components made by IDEX Health & Science. Founded in 1988 with three small, entrepreneurial manufacturing companies, we’re proud to say that we now call over 50 diverse businesses around the world part of the IDEX family. With more than 8,500 employees and manufacturing operations in more than 20 countries, IDEX is a high-performing, global company with over $3.1 billion in annual sales, 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 IDEX’s website at www.idexcorp.com.

Investor Contact

IDEX Corporation
Allison Lausas

Vice President and Chief Accounting Officer

+1 847-498-7070

investorrelations@idexcorp.com

Media Contact:

IDEX Corporation

Mark Spencer

+1 847-457-3793

mdspencer@idexcorp.com

###

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