Idex Corporation · NYSE:IEX
Idex — Q3 2022 Earnings Presentation
22 slides from Idex's earnings presentation, Oct 26, 2022
Slide 1: Third Quarter 2022 Earnings
Third Quarter 2022 Earnings October 26, 2022 1
Slide 2: Agenda
Agenda IDEX Business Overview Q3 2022 Financial Performance Segment Performance 2022 Guidance Summary Q&A IDEX Proprietary & Confidential 2
Slide 3: Replay Information
Replay Information • Dial toll–free: 877.660.6853 • International: 201.612.7415 • Conference ID: #13724804 • 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 Strong Third Quarter Results • Record sales, adjusted EPS, and free cash flow • Organic sales growth of 15% • Double-digit organic growth across all three segments Executing Capital Deployment Strategy • Announced acquisition of Muon Group • Portfolio optimization through divestiture o
Slide 7: Financials
Financials IDEX Proprietary & Confidential 7
Slide 8: IDEX Q3 2022 Financial Performance
IDEX Q3 2022 Financial Performance (Dollars in millions, excl. EPS) Sales Adjusted Earnings per Share* +15% Organic* 20% Increase $824 $2.14 Q3 2022 includes $17.9M $712 accelerated deferred revenue related to the exit of COVID-19 $1.79 testing application Q3 2021 Q3 2022 Q3 2021 Q3 2022 Adjusted Op
Slide 9: Q3 2022 Adjusted Operating Income Walk
Q3 2022 Adjusted Operating Income Walk 2 (Dollars in millions) 16 (6) 26 (6) $ 201 (4) $ 173 Q3'21 Organic Price/ Mix Growth Discretionary Acq/Div Q3'22 Adj Op Income * Flow Thru Productivity/ Investments /FX Adj Op Income * Inflation Flow through Organic flow Total flow @ PY Adj through ex through
Slide 10: IDEX Segment Performance
IDEX Segment Performance Fluid & Metering Technology Health & Science Technology Fire & Safety / Diversified Q3 Revenue $308M / 37% of Total Q3 Revenue $345M / 42% of Total Q3 Revenue $172M / 21% of Total • Stable Industrial market • Genetic sequencing strong • Dispensing project deliveries • Strong
Slide 11: 2022 Guidance Summary
2022 Guidance Summary Fourth Quarter Full Year Current Prior Current Guidance Guidance Guidance Revenue% vs. Prior Year Organic* ~9% ~10% ~12% Operating Margin% Reported ~23.5% ~24% ~24% Earnings per Share Reported $1.75-$1.80 $7.19-$7.29 $7.75-$7.80 Adjusted* $1.92-$1.97 $7.88-$7.98 $8.04-$8.09 Oth
Slide 12: Appendix
Appendix IDEX Proprietary & Confidential 12
Slide 13: Fluid & Metering Technologies
Fluid & Metering Technologies (Dollars in millions) Orders Sales Adjusted Operating Margin* +2% Organic* +17% Organic* +250bps* 30.7% $311 $308 $251 28.2% $286 Q3 2021 Q3 2022 Q3 2021 Q3 2022 Q3 2021 Q3 2022 Q3 Sales Mix: Organic 17% Q3 Highlights: Steady Industrial demand Acquisition/Divestiture
Slide 14: Health & Science Technologies
Health & Science Technologies (Dollars in millions) Orders Sales Adjusted Operating Margin* -4% Organic* +13% Organic* -70 bps* $345 $331 $322 26.5% $302 25.8% Q3 2021 Q3 2022 Q3 2021 Q3 2022 Q3 2021 Q3 2022 Q3 Sales Mix: Organic 13% Q3 Highlights: Exit of COVID-19 testing application 6% Strong Li
Slide 15: Fire & Safety / Diversified Products
Fire & Safety / Diversified Products (Dollars in millions) Orders Sales Adjusted Operating Margin* 0% Organic* +14% Organic* +70 bps* $158 $172 25.3% 24.6% $149 $159 Q3 2021 Q3 2022 Q3 2021 Q3 2022 Q3 2021 Q3 2022 Q3 Highlights: BAND-IT strong Energy and Industrial and share gain in Automotive Q3 Sa
Slide 16: 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 the Change in Net Sales to Organic Net Sales Three Months Ended September 30, 2022 FM
Slide 17: 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 Three Months Ended September 30, 2022 2
Slide 18: 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 Nine Months Ended September 30, 2022
Slide 19: 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 Three Months Ended September 30, 2022 2021 Reported n
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) Reconciliation of Reported-to-Adjusted EPS Three Months Ended September 30, 2022 2021 Reported diluted
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) Reconciliation of Cash Flows from Operating Activities to Free Cash Flow Three Months Ended September 3
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 Estimated 2022 EPS to Adjusted EPS Attributable to IDEX Guidance Fourth Quarter 2022