Slide 1: First Quarter 2023 Earnings
First Quarter 2023 Earnings April 27, 2023 1
Slide 2: Agenda
Agenda IDEX Business Overview Q1 2023 Financial Performance Segment Performance 2023 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: #13734462 • 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 First Quarter Results: • Record sales • Organic revenue growth across all three segments • Strong price-cost and free cash flow • Organic orders down (10%) Looking Ahead: • Headwinds across AI, Life Science, Pharma, and Semiconductor • Revised full year adjusted EPS guidance to $8.25-$
Slide 7: Financials
Financials IDEX Proprietary & Confidential 7
Slide 8: IDEX Q1 2023 Financial Performance
IDEX Q1 2023 Financial Performance (Dollars in millions, excl. EPS) Sales Adjusted Earnings per Share* +6% Organic* 7% Increase $845 $1.96 $2.09 $751 Q1'22 Q1'23 Q1'22 Q1'23 Adjusted EBITDA Margin* Free Cash Flow* -140 bps +91% $121 28.6% $64 27.2% Q1'22 Q1'23 Q1'22 Q1'23 Strong Revenue, Earnings, a
Slide 9: Q1 2023 Adjusted EBITDA Walk
Q1 2023 Adjusted EBITDA Walk (Dollars in millions) 13 (3) 13 $ 230 6 (8) $ 215 (6) 1Q'22 ACT Organic Price / Mix Resource Timing of Acq/Div/ 1Q'23 ACT ADJ EBITDA Flow Thru Productivity / Investment / Share-based FX ADJ EBITDA Inflation Discretionary Compensation Carryover Flow through Organic flow T
Slide 10: IDEX 1Q 2023 Segment Performance
IDEX 1Q 2023 Segment Performance Fluid & Metering Technology Health & Science Technology Fire & Safety / Diversified Q1 Revenue $322M / 38% of Total Q1 Revenue $351M / 41% of Total Q1 Revenue $174M / 21% of Total • Stable industrial performance • OEM inventory destocking • Strong Fire and Rescue • S
Slide 11: 2023 Guidance Summary
2023 Guidance Summary Second Quarter Full Year Current Prior Current Guidance Guidance Guidance Revenue% vs. Prior Year Organic* ~3% 1-5% 0-3% Adjusted EBITDA%* 27.3% - 27.7% 28%+ 27.5% - 27.9% Earnings per Share Reported $1.86 - $1.89 $7.55 - $7.85 $7.30 - $7.60 Adjusted* $2.10 - $2.13 $8.50 - $8.8
Slide 12: Appendix
Appendix IDEX Proprietary & Confidential 12
Slide 13: Fluid & Metering Technologies
Fluid & Metering Technologies (Dollars in millions) Orders Sales Adjusted EBITDA Margin* 5% Organic* 9% Organic* +50 bps* $336 $322 32.5% 33.0% $289 $272 Q1'22 Q1'23 Q1'22 Q1'23 Q1'22 Q1'23 Q1 Sales Mix: Organic 9% Q1 Highlights: Consistent Industrial demand Acquisition/Divestiture 11% Strong Wa
Slide 14: Health & Science Technologies
(Dollars in millions) Health & Science Technologies Orders Sales Adjusted EBITDA Margin* -23% Organic* 3% Organic* -300 bps* 31.7% $315 $351 28.7% $381 $318 Q1'22 Q1'23 Q1'22 Q1'23 Q1'22 Q1'23 Q1 Sales Mix: Organic 3% Q1 Highlights: OEMs holding excess inventory Acquisition 11% Favorable automot
Slide 15: Fire & Safety / Diversified Products
Fire & Safety / Diversified Products (Dollars in millions) Orders Sales Adjusted EBITDA Margin* -4% Organic* 9% Organic* +160 bps* $188 $176 26.9% 28.5% $165 $174 Q1'22 Q1'23 Q1'22 Q1'23 Q1'22 Q1'23 Q1 Highlights: Q1 Sales Mix: Organic 9% Share gain with mid-tier Fire OEMs, steady Rescue tool dema
Slide 16: Non-GAAP Reconciliations
Non-GAAP Reconciliations IDEX Proprietary & Confidential 16
Slide 17: Non-GAAP Measures of Financial Performance
Non-GAAP Measures of Financial Performance The Company prepares its public financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP). The Company supplements certain GAAP financial performance metrics with non-GAAP financial performance m
Slide 18: Reconciliations of Reported-to-Adjusted Net Income and Diluted EPS
Table 2: Reconciliations of Reported-to-Adjusted Net Income and Diluted EPS (in millions, except per share amounts) Three Months Ended March 31, 2023 2022 Reported net income attributable to IDEX $ 139.8 $ 140.0 + Restructuring expenses and asset impairments 0.5 — + Tax impact on restructuring expen
Slide 19: Reconciliation of Net Income to Adjusted EBITDA and Free Cash Flow
Three Months Ended March 31, 2022 FMT HST FSDP Corporate IDEX Reported net income $ — $ — $ — $ — $ 139.9 + Provision for income taxes — — — — 40.5 + Interest expense — — — — 9.5 - Other income (expense) - net — — — — 2.3 Operating income (loss) 80.4 83.6 40.5 (16.9) 187.6 + Other income (expense) -
Slide 20: Reconciliation of Estimated 2023 Net Income to Adjusted EBITDA
Table 6: Reconciliation of Estimated 2023 Net Income to Adjusted EBITDA (dollars in millions) Guidance(1) Second Quarter 2023 Full Year 2023 Low End High End Low End High End Reported net income $ 141.0 $ 143.0 $ 552.5 $ 576.5 + Provision for income taxes 41.0 42.0 159.0 166.0 + Interest expense 13.