Slide 1: Fourth Quarter & Full Year 2022 Earnings
Fourth Quarter & Full Year 2022 Earnings February 1, 2023 1
Slide 2: Agenda
Agenda IDEX Business Overview • IDEX Overview • Segment Outlook Financials • Q4 & Full Year 2022 Performance • Full Year 2022 Adjusted EBITDA Walk 2023 Guidance Q&A IDEX Proprietary & Confidential 2
Slide 3: Replay Information
Replay Information • Dial toll–free: 877.660.6853 • International: 201.612.7415 • Conference ID: #13734461 • Log on to: www.idexcorp.com IDEX Proprietary & Confidential 3
Slide 4: Cautionary Statement
Cautionary Statement Cautionary Statement Under the Private Securities Litigation Reform Act; Non-GAAP Measures This presentation contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements may relate to, among other
Slide 5: Business Update
Business Update IDEX Proprietary & Confidential 5
Slide 6: IDEX Overview
IDEX Overview Record Year in a Challenging Environment • Record financial results • Strong growth across all three segments • Margin expansion amid record inflation • All time high capital deployment Growth Outperformance and Operational Excellence • Strong foundation entering 2023 • Calibration to
Slide 7: 2023 IDEX Segment Outlook
2023 IDEX Segment Outlook Fluid & Metering Technology Health & Science Technology Fire & Safety / Diversified FY’22 Revenue $1.2B / 37% of Total FY’22 Revenue $1.3B / 42% of Total FY’22 Revenue $0.7B / 21% of Total Market Agriculture, Water and Energy Life Science, AI, Auto Fire and Rescue, Auto, Ae
Slide 8: Financials
Financials IDEX Proprietary & Confidential 8
Slide 9: IDEX Q4 and FY 2022 Financial Performance
IDEX Q4 and FY 2022 Financial Performance (Dollars in millions, excl. EPS) Sales Adjusted Earnings per Share* +12% Organic* +13% Organic* 18% Increase 18% Increase $3,182 ** $811 $2,765 $2.01 $8.12 $715 $1.71 $6.87 Q4'21 Q4'22 FY'21 FY'22 Q4'21 Q4'22 FY'21 FY'22 Adjusted EBITDA Margin* Free Cash Flo
Slide 10: Full Year 2022 Adjusted EBITDA Walk
Full Year 2022 Adjusted EBITDA Walk (Dollars in millions) 58 1 14 $ 884 (20) 91 (25) $ 765 FY'21 Organic Price/ Mix Growth Discretionary Acq/Div FY'22 Adjusted Flow Thru Productivity/ Investments /FX Adjusted EBITDA* Inflation EBITDA* Flow through Organic flow Total flow @ PY GM%* through ex through
Slide 11: 2023 Full Year Guidance Bridge
2023 Full Year Guidance Bridge Figures below are reported net of taxes Sales ($M) EPS FY 2022 Actual - Reported $3,182 $7.71 Restructuring expenses and asset impairments - 0.05 Fair value inventory step-up charges - 0.08 Net impact from the exit of a COVID-19 product offering (18) (0.01) Gain on sal
Slide 12: 2023 Guidance Summary
2023 Guidance Summary First Quarter Full Year Current Current Guidance Guidance Revenue% vs. Prior Year Organic* 3-5% 1-5% EBITDA% Adjusted* ~27% 28%+ Earnings per Share Reported $1.74 - $1.79 $7.55- $7.85 Adjusted* $1.98 - 2.03 $8.50 - $8.80 Other Modeling Items: FX Impact on Sales -2% -a) 0% -a) A
Slide 13: IDEX 2023 Focus
IDEX 2023 Focus Foundational Execution Build Great Global Teams Capital Deployment IDEX Proprietary & Confidential 13
Slide 14: Appendix
Appendix IDEX Proprietary & Confidential 14
Slide 15: Fluid & Metering Technologies
Fluid & Metering Technologies (Dollars in millions) Orders Sales Adjusted EBITDA Margin* 7% Organic* 8% Organic* 9% Organic* 13% Organic* +180 bps* +240 bps* $297 $1,216 30.0% 29.7% 32.1% $1,080 $288 $1,167 28.2% $267 $253 $999 Q4'21 Q4'22 FY'21 FY'22 Q4'21 Q4'22 FY'21 FY'22 Q4'21 Q4'22 FY'21 FY'22
Slide 16: Health & Science Technologies
Health & Science Technologies (Dollars in millions) Orders Sales Adjusted EBITDA Margin* -8% Organic* 5% Organic* 19% Organic* 15% Organic* -150 bps* -50 bps* $349 $1,254 $1,365 ** $353 $1,339 ** 31.8% 30.3% 31.7% 31.2% $320 $294 $1,122 Q4'21 Q4'22 FY'21 FY'22 Q4'21 Q4'22 FY'21 FY'22 Q4'21 Q4'22 FY'
Slide 17: Fire & Safety / Diversified Products
Fire & Safety / Diversified Products (Dollars in millions) Orders Sales Adjusted EBITDA Margin* 9% Organic* 4% Organic* 6% Organic* 9% Organic* -90 bps* -160 bps* $181 $188 $700 $701 $169 $171 $679 28.2% 27.3% $648 28.7% 27.1% Q4'21 Q4'22 FY'21 FY'22 Q4'21 Q4'22 FY'21 FY'22 Q4'21 Q4'22 FY'21 FY'22 Q
Slide 18: 4Q 2022 Adjusted EBITDA Walk
4Q 2022 Adjusted EBITDA Walk (Dollars in millions) 22 (3) (5) 1 $ 219 (6) 18 $ 192 4Q'21 Organic Price/ Mix Growth Discretionary Acq/Div 4Q'22 Adjusted Flow Thru Productivity/ Investments /FX Adjusted EBITDA* Inflation EBITDA* Flow through Organic flow Total flow @ PY GM% * through ex through 44% Ac
Slide 19: 4Q 2022 Adjusted Operating Income Walk
4Q 2022 Adjusted Operating Income Walk (Dollars in millions) 22 (3) (5) (6) $ 185 (4) 18 $ 163 4Q'21 Organic Price/ Mix Growth Discretionary Acq/Div 4Q'22 Adj Op Income* Flow Thru Productivity/ Investments /FX Adj Op Income* Inflation Flow through Organic flow Total flow @ PY GM% * through ex throug
Slide 20: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures This information reconciles non-GAAP measures (denoted with a *) with the most directly comparable GAAP measure. (dollars in millions, except per share amounts) Reconciliations of the Change in Net Sales to Organic Net Sales (1) Represents the acceleration of prev
Slide 21: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures This information reconciles non-GAAP measures (denoted with a *) with the most directly comparable GAAP measure. (dollars in millions, except per share amounts) Reconciliations of Reported-to-Adjusted Gross Profit and Margin and Net Sales to Adjusted Net Sales (1)
Slide 22: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures This information reconciles non-GAAP measures (denoted with a *) with the most directly comparable GAAP measure. (dollars in millions, except per share amounts) Reconciliation of Reported-to-Adjusted Net Income (1) Represents the net impact of the acceleration of
Slide 23: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures This information reconciles non-GAAP measures (denoted with a *) with the most directly comparable GAAP measure. (dollars in millions, except per share amounts) Reconciliation of Reported-to-Adjusted EPS (1) Represents the net impact of the acceleration of previou
Slide 24: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures This information reconciles non-GAAP measures (denoted with a *) with the most directly comparable GAAP measure. (dollars in millions, except per share amounts) Reconciliations of Net Income to Adjusted EBITDA IDEX Proprietary & Confidential 24
Slide 25: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures This information reconciles non-GAAP measures (denoted with a *) with the most directly comparable GAAP measure. (dollars in millions, except per share amounts) Reconciliations of Net Income to Adjusted EBITDA and Net Sales to Adjusted Net Sales (1) Represents the
Slide 26: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures This information reconciles non-GAAP measures (denoted with a *) with the most directly comparable GAAP measure. (dollars in millions, except per share amounts) Reconciliation of Cash Flows from Operating Activities to Free Cash Flow For the Quarter Ended For the
Slide 27: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures This information reconciles non-GAAP measures (denoted with a *) with the most directly comparable GAAP measure. (dollars in millions, except per share amounts) Reconciliation of Estimated 2023 EPS to Adjusted EPS Attributable to IDEX Guidance First Quarter 2023 F
Slide 28: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures This information reconciles non-GAAP measures (denoted with a *) with the most directly comparable GAAP measure. (dollars in millions, except per share amounts) Reconciliation of Reported-to-Adjusted Operating Income and Margin Due to the change in the segment mea
Slide 29: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures This information reconciles non-GAAP measures (denoted with a *) with the most directly comparable GAAP measure. (dollars in millions, except per share amounts) Reconciliation of Reported-to-Adjusted Operating Income and Margin Due to the change in the segment mea