Idex Corporation · NYSE:IEX
Idex — Q4 2020 Earnings Presentation
18 slides from Idex's earnings presentation, Feb 4, 2021
Slide 1: Fourth Quarter & Full Year 2020 Earnings
Fourth Quarter & Full Year 2020 Earnings February 4, 2021 1
Slide 2: Agenda
Agenda IDEX Business Overview • IDEX Overview • IDEX Culture • Orders & End Market Update Financials • Q4 & Full Year Performance • Operating Profit 2021 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: #13712088 • 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 relate
Slide 5: Business Update
Business Update IDEX Proprietary & Confidential 5
Slide 6: IDEX Overview
IDEX Overview Executed in a Challenging Environment • Our people safe, our customers supported • 80/20 Led Innovation • Record Free Cash Flow performance 2021 - Cautiously Bullish • End markets continue to improve • COVID still present, but pivoting operations and commercial focus • Continued evolut
Slide 7: Diversity, Equity & Inclusion
Diversity, Equity & Inclusion IDEX Foundation Expands Mission • “Equity & Opportunity” added as foundation pillar • Increase funding for enhanced mission • Driving increased engagement across the globe DE&I Worldwide Focus Groups • Listening to frontline employees' perspectives • Developing strategi
Slide 8: Organic Order Performance
Organic Order Performance Industrial COVID COVID Recovery Slow Down Quarterly improvement experienced in all segments since COVID peak 8
Slide 9: 2021 Market Outlook
2021 Market Outlook FLUID & METERING HEALTH & SCIENCE FIRE & SAFETY / TECHNOLOGY TECHNOLOGY DIVERSIFIED POSITIVE MOMENTUM Agriculture Automotive Automotive Water Semiconductor Dispensing Food / Pharma STABLE Industrial Analytical Instrumentation Industrial / Other Chemical Life Sciences Fire / Rescu
Slide 10: Financials
Financials IDEX Proprietary & Confidential 10
Slide 11: IDEX 2020 Financial Performance
(Dollars in millions, excl. EPS) IDEX 2020 Financial Performance Sales Earnings Per Share* 11% decrease Organic: 9% decrease $5.80 $2,495 $2,352 $5.19 Organic: 1% decrease 3% increase $615 $1.33 $1.37 $606 Q4 Year Q4 Year 2019 2020 2019 2020 Operating Margin* Free Cash Flow 140 bps decrease 9% incre
Slide 12: 2020 Adjusted Operating Income Walk
2020 Adjusted Operating Income Walk (Dollars in millions) Cost discipline with strategic reinvestment to spur post-COVID growth IDEX Proprietary & Confidential 12
Slide 13: 2021 Guidance Bridge
2021 Guidance Bridge Sales ($M) EPS FY 2020 Actuals - Reported $2,352 $4.94 2020 Restructuring - 0.12 Loss on Bond Extinguishment - 0.09 Inventory Step-Up - 0.04 FY 2020 Actuals - Adjusted $2,352 $5.19 Organic Growth: 6% - 8% $141 - $188 ~0.75 - 0.95 Net Productivity / Inflation 0.04 Structural Cost
Slide 14: 2021 Guidance Bridge
2021 Guidance Bridge Q1 2021 EPS estimate range: $1.38 – $1.42 Organic revenue growth: 2% - 4% Operating margin: ~23.5% Tax rate: ~23% FX impact: ~3.0% topline benefit based on December 31,2020 FX rates Corporate costs: ~$18 million FY 2021 EPS estimate range: $5.65 – $5.95 Organic revenue growth: 6
Slide 15: Appendix
Appendix IDEX Proprietary & Confidential 15
Slide 16: Fluid & Metering Technologies
(Dollars in millions) Fluid & Metering Technologies Orders Sales Operating Margin* Organic: 8% decrease Organic: 12% decrease 280 bps decrease $947 $957 30.1% $888 $896 100 bps decrease 28.0% 27.3% Organic: 3% increase 27.0% Organic: 4% decrease $217 $231 $227 $230 Q4 Year Q4 Year Q4 Year 2019 2020
Slide 17: Health & Science Technologies
(Dollars in millions) Health & Science Technologies Orders Sales Operating Margin* Organic: Flat Organic: 4% decrease 110 bps increase 50 bps decrease $922 $943 $914 $896 23.9% 23.8% 23.3% 22.8% Organic: 6% increase Organic: 2% increase $253 $276 $227 $236 Q4 Year Q4 Year Q4 Year 2019 2020 2019 2020
Slide 18: Fire & Safety / Diversified Products
(Dollars in millions) Fire & Safety / Diversified Products Orders Sales Operating Margin* Organic: 5% decrease Organic: 11% decrease $620 $627 90 bps increase $589 $563 50 bps decrease 27.1% 26.6% 26.2% 26.1% Organic: 15% increase Organic: 3% decrease $174 $152 $151 $147 Q4 Year Q4 Year Q4 Year 2019