Slide 1: Fourth Quarter & Full Year 2021 Earnings
Fourth Quarter & Full Year 2021 Earnings February 2, 2022 1
Slide 2: Agenda
Agenda IDEX Business Overview • IDEX Overview • 2022 Segment Outlook Financials • Q4 & Full Year Performance • Full Year Operating Income Walk 2022 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: #13724802 • 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 and discussion will include “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements may rela
Slide 5: Business Update
Business Update IDEX Proprietary & Confidential 5
Slide 6: IDEX Overview
IDEX Overview Strong Year in a Challenging Environment • Record financial results • Strong rebound in demand • Margin expansion despite inflationary environment • All time high capital deployment Manage the Short Term with Focus on the Long Term • Supply chain disruptions persist in near term • Cont
Slide 7: 2022 Segment Outlook
2022 Segment Outlook Fluid & Metering Technology Health & Science Technology Fire & Safety / Diversified FY Revenue $999M / 36% of Total FY Revenue $1,122M / 41% of Total FY Revenue $648M / 23% of Total Key • Positive industrial book & ship • Strong secular growth trends • Fire & Rescue OEM challeng
Slide 8: Financials
Financials IDEX Proprietary & Confidential 8
Slide 9: IDEX 2021 Financial Performance
IDEX 2021 Financial Performance (Dollars in millions, excl. EPS) Sales Adjusted Earnings Per Share* +12% Organic* + 21% $6.30 $2,765 $2,352 $5.19 + 13% +11% Organic* $715 $1.37 $1.55 $615 Q4’20 Q4’21 FY’20 FY’21 Q4’20 Q4’21 FY’20 FY’21 Adjusted Operating Margin* Free Cash Flow* +110 bps (5%) (60) bp
Slide 10: 2021 Adjusted Operating Income Walk
2021 Adjusted Operating Income Walk (Dollars in millions) 11 26 16 $ 661 106 (35) $ 537 FY'20 Organic Price/ Mix Discretionary / Acq/FX FY'21 Adj Op Income* Flow Thru Productivity/ Reinvestment Adj Op Income* Inflation Flow through Organic flow Total flow @ PY GM% through ex through 45% Acq / FX 38%
Slide 11: 2022 Guidance Summary
2022 Guidance Summary 4Q 2021 Adjusted, Restated EPS* = $1.71 Q1 2022 FY 2021 Adjusted, Restated EPS* = $6.87 GAAP EPS estimate range: $1.57 – $1.60 and Adjusted EPS estimate range*: $1.73 - $1.76 Reported Revenue Growth of 9 - 10% and Organic revenue growth*: 6% - 7% Operating margin: ~23.0% Tax ra
Slide 12: 2022 Guidance Bridge
2022 Guidance Bridge Figures below are reported net of taxes Sales ($M) EPS FY 2021 Actuals - Reported $2,765 $5.88 Restructuring expenses and asset impairments - 0.09 Fair value inventory step-up charges - 0.11 Loss on early debt redemption - 0.09 Termination of the U.S. pension plan, net of curtai
Slide 13: IDEX 2022 Focus
IDEX 2022 Focus Navigate the Short Term while Innovating for the Future • Leverage 8020 principles • Invest for growth • Solving our customers most challenging problems Build Great Global Teams • Develop great leaders and build high performing teams • Continue Diversity, Equity & Inclusion (DE&I) tr
Slide 14: Appendix
Appendix IDEX Proprietary & Confidential 14
Slide 15: Fluid & Metering Technologies
Fluid & Metering Technologies (Dollars in millions) Orders Sales Adjusted Operating Margin* +16% Organic +6% Organic* (60) bps $1,080 $999 (180) bps $896 27.3% $888 27.0% 26.7% +14% Organic 25.2% +7% Organic $267 $230 $253 $231 Q4’20 Q4’21 FY’20 FY’21 Q4’20 Q4’21 FY’20 FY’21 Q4’20 Q4’21 FY’20 FY’21
Slide 16: Health & Science Technologies
Health & Science Technologies (Dollars in millions) Orders Sales Adjusted Operating Margin* +26% Organic +18% Organic* +340 bps $1,254 $1,122 +190 bps 26.7% $943 $896 25.8% +20% Organic 23.9% +16% Organic* 23.3% $276 $348 $294 $236 Q4’20 Q4’21 FY’20 FY’21 Q4’20 Q4’21 FY’20 FY’21 Q4’20 Q4’21 FY’20 FY
Slide 17: Fire & Safety / Diversified Products
Fire & Safety / Diversified Products (Dollars in millions) Orders Sales Adjusted Operating Margin* +17% Organic +13% Organic* (150) bps $700 $648 +10 bps $589 $563 27.1% 26.1% 26.2% 25.6% +5% Organic +13% Organic* $174 $181 $169 $151 Q4’20 Q4’21 FY’20 FY’21 Q4’20 Q4’21 FY’20 FY’21 Q4’20 Q4’21 FY’20
Slide 18: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures (Dollars in millions excl. EPS) 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 the Change in Net Sales to Organic Net Sales IDEX Pro
Slide 19: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures (Dollars in millions excl. EPS) 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 IDEX
Slide 20: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures (Dollars in millions excl. EPS) 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 IDEX
Slide 21: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures (Dollars in millions excl. EPS) 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 attributable to IDEX Note: S
Slide 22: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures (Dollars in millions excl. EPS) 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 Flo
Slide 23: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures (Dollars in millions excl. EPS) 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 2022 EPS to Adjusted EPS Attributable to ID