IDEX Corp (STU:ID7)

€ 204.9 1.75 (0.88%) Market Cap: 15.65 Bil Enterprise Value: 17.00 Bil PE Ratio: 33.90 PB Ratio: 4.34 GF Score: 92/100

Q2 2024 IDEX Corp Earnings Call Transcript

Aug 01, 2024 / 02:30PM GMT

Release Date Price: €189.8 (-1.53%)

Transcript 10-Q8-K

Key Points

Positve

IDEX Corp (IEX) delivered adjusted EBITDA margin and adjusted EPS slightly above previous guidance.
Strong execution by IDEX teams globally despite macroeconomic uncertainties.
FSDP segment had a strong quarter with significant gains in emerging markets, particularly in India.
Fire business continues to grow with higher adoption of mobile platform automation.
Recent acquisition of Mott Corporation expected to deliver strong organic growth, EBITDA margin expansion, and near-term EPS accretion.

Negative

Noticeable pullback in project commitments due to macroeconomic and political uncertainties.
HST segment facing pressures in life science and analytical instrumentation markets with no immediate growth catalysts.
Semiconductor market recovery slower than expected, impacting HST segment.
Adjusted EBITDA margin decreased by 60 basis points year-over-year.
Revised full-year outlook projects revenue decline of 1% to 2%, down from previous growth expectations of 0% to 2%.

Operator

Hello, and welcome to the IDEX Corporation Q2 2024 earnings conference call and webcast. (Operator Instructions) As a reminder, this conference is being recorded. Is now my pleasure to turn the call 20 plus years, Vice President, Investor Relations and PA. Wendy, please go ahead.

Wendy Palacios

IDEX Corp - Vice President of FP&A and Investor Relations

Good morning, everyone. This is Wendy Palacios, Vice President of FP&A and Investor Relations for IDEX Corporation. Thank you for joining us for our discussion of the IDEX second quarter 2024 financial highlights. Last night, we issued a press release outlining our company's financials and operating performance for the three months ending June 30, 2024. The press release along with the presentation to be used during today's webcast can be accessed at our investor website at investors.idexcorp.com.

Joining me today are Eric Ashleman, our Chief Executive Officer and President; and Abhi Khandelwal, our Senior Vice President and Chief Financial Officer. Following our prepared remarks, we will open

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