Slide 1: First Quarter 2020 Earnings
First Quarter 2020 Earnings April 24, 2020
Slide 2: Agenda
Agenda IDEX Performance Drivers COVID 19 Financials • Q1 Performance • Liquidity • Break Even Analysis Q2 Summary Q&A 2 IDEX Proprietary & Confidential
Slide 3: Replay Information
Replay Information • Dial toll–free: 877.660.6853 • International: 201.612.7415 • Conference ID: #13694804 • Log on to: www.idexcorp.com 3 IDEX Proprietary & Confidential
Slide 4: Cautionary Statement
Cautionary Statement Cautionary Statement Under the Private Securities Litigation Reform Act; Non-GAAP Measures The Securities and Exchange Commission encourages companies to disclose forward-looking information so that investors can better understand the future prospects of a company and make infor
Slide 5: Business Update
Business Update IDEX Proprietary & Confidential
Slide 6: IDEX Performance Drivers
IDEX Performance Drivers Great Businesses Distinctive Culture Capital Deployment 6 IDEX Proprietary & Confidential
Slide 7: Samples of How "We're In This Fight"
Samples of How “We’re In This Fight” DNA Sequencing Components to Components for Lab Diagnostics to Analyze COVID-19 RNA, Helping Direct Test for COVID-19 and Antibodies COVID-19 Test Cells Drug and Vaccine Development Mobile Hospital Tents Compressor for Mobile Portable Hospital-Grade IDEX Propriet
Slide 8: Thanks to our Great Teams!
Thanks to our Great Teams! IDEX Proprietary & Confidential
Slide 9: COVID-19 Our View
COVID 19 Our View ▪ Four Phases ▪ Acute (Nearing the End) ▪ Ongoing Uncertainty (Next 3-6 months) ▪ Living with the Virus (Fall 2020 into 2021) ▪ The “New Normal” (Early 2021 and Beyond) ▪ Unprecedented economic impact ▪ The pandemic will yield new applications 9 IDEX Proprietary & Confidential
Slide 10: COVID-19 Response
COVID 19 Response Focus on our people around the world and actions taken to Safety keep people physically, emotionally, and financially safe Prepared to manage our businesses in a volatile environment; Business how we handle supply chain, internal operations and customer Continuity disruptions Manag
Slide 11: Financials
Financials IDEX Proprietary & Confidential
Slide 12: IDEX Q1 Financial Performance
IDEX Q1 Financial Performance (Dollars in millions, excl. EPS) Sales Earnings Per Share Organic: 5% decrease 8% decrease $1.44 $1.33 $622 $594 Q1 Q1 2019 2020 2019 2020 Operating Margin Free Cash Flow 30 bps decrease 5% decrease $76 23.8% $72 23.5% Q1 Q1 2019 2020 2019 2020 Q1 guidance achieved in c
Slide 13: Liquidity
Liquidity (Dollars in millions) FREE CASH FLOW(1) ADJUSTED LEVERAGE(1) 2.5x $600 200% $477 $473 1.9x $500 $423 180% 2.0x $362 $389 1.7x $400 $322 160% 1.5x 1.5x 1.3x $300 133% 140% 1.3x 114% 115% 112% 113% $200 103% 120% 1.0x $100 100% 0.5x $- 80% 2015 2016 2017 2018 2019 LTM 0.0x Free Cash Flow FCF
Slide 14: Breakeven Cash Flow
Breakeven Cash Flow Current Cost With Discretionary With Structural Structure Cost Controls Actions Inlcuding Breakeven Revenue $1.8B $1.6B $1.5B Dividend % Change vs 2019 (30%) (35%) (40%) Excluding Breakeven Revenue $1.5B $1.3B $1.2B Dividend % Change vs 2019 (40%) (48%) (50%) Break Even Revenue (
Slide 15: Q2 Summary
Q2 Summary ▪ Revenue expected to be down 15% - 25% ▪ Significant discretionary cost reductions, top line flow through ~50% ▪ Balancing additional restructuring actions with optimizing ability to respond to the recovery ▪ Expect to be generate positive cash flows including funding our dividend and cr
Slide 16: Appendix
Appendix IDEX Proprietary & Confidential
Slide 17: Fluid & Metering Technologies
Fluid & Metering Technologies (Dollars in millions) Orders Sales Operating Margin Organic: 7% decrease Organic: 5% decrease 20 bps decrease $256 $243 29.6% $236 $227 29.4% Q1 Q1 Q1 2019 2020 2019 2020 2019 2020 Q1 Sales Mix: Organic -5% Q1 Highlights: ❑ Industrials markets challenged as the slow dow
Slide 18: Health & Science Technologies
Health & Science Technologies (Dollars in millions) Orders Sales Operating Margin Organic: 6% increase Organic: 4% decrease 50 bps decrease $261 $225 24.0% $224 23.5% $240 Q1 Q1 Q1 2019 2020 2019 2020 2019 2020 Q1 Sales Mix: Organic -4% Q1 Highlights: Acquisition 4% ❑ Life Sciences businesses contin
Slide 19: Fire & Safety / Diversified Products
Fire & Safety / Diversified Products (Dollars in millions) Orders Sales Operating Margin Organic: 7% decrease Organic: 7% decrease 60 bps increase $162 $156 26.4% $149 $144 25.8% Q1 Q1 Q1 2019 2020 2019 2020 2019 2020 Q1 Sales Mix: Organic -7% Q1 Highlights: ❑ Fire continues to show solid demand wit