The beat-and-raise trajectory confirms strong execution in high-growth end markets (AI/data center, semiconductor, space/defense). Monitor Q3 call for sustainability of HST momentum, FSDP stabilization, and working capital trends given elevated receivables. The raised FY guidance implies H2 organic growth acceleration to ~5-6% from Q2's 5%.
Price Chart
Executive Summary
IDEX reported Q2 2026 adjusted EPS of $2.32, a 10% beat vs consensus of $2.11, on record sales of $921M (+6% reported, +5% organic). Full-year organic growth guidance was raised to 5-6% (from 3-4%) and adjusted EPS guidance to $8.70-$8.85 (from $8.35-$8.55), representing ~10% YoY growth at midpoint. Record orders of $1.07B (+29%) underscore exceptional momentum in the Health Science Technologies segment driven by AI/semiconductor and aerospace/defense demand. This marks a second consecutive beat-and-raise quarter.
Key Financial Metrics
Key Facts
- Record quarterly sales of $920.6M, up 6% reported and 5% organic YoY
- Record adjusted diluted EPS of $2.32, up 12% YoY and 10% above consensus
- Record orders of $1.07B, up 29% reported and 28% organic YoY
- HST segment posted 12% organic sales growth and 270bps adjusted EBITDA margin expansion to 28.7%
- FY 2026 organic sales guidance raised to 5-6% (from 3-4%); adjusted EPS guidance raised to $8.70-$8.85 (from $8.35-$8.55)
- Q3 2026 guidance: organic sales +5-7%, adjusted EPS $2.20-$2.25
- Operating cash flow $200M (140% of net income), free cash flow $177M with 103% conversion
- $77M in share repurchases and $54M in dividends returned to shareholders in Q2
- IEEPA tariff refunds benefited adjusted EPS by $0.08
Financial Impact
Beat consensus EPS by $0.21 (10%) on revenue $15M above estimates, with full-year EPS guidance raised by $0.32-$0.35 at midpoint
Risk Factors
- Fire Safety & Diversified Products segment organic sales declined 1% and margins contracted 50bps
- Fluid Metering Technologies margin slipped 20bps despite 1% organic growth
- IEEPA tariff refunds provided $0.08 one-time EPS benefit that may not recur
- Elevated working capital buildup (receivables +$35M, inventories +$41M vs Dec 2025)
- Prior score-8 call on Q1 earnings had -3.34% T+20 return, suggesting investor caution on sustainability
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000832101-26-000019 |
| Document: iex-20260729.htm | 0000832101-26-000019 |
| Document: 0000832101-26-000019-index-headers.html | 0000832101-26-000019 |
| Document: 0000832101-26-000019-index.html | 0000832101-26-000019 |
| Document: 0000832101-26-000019.txt | 0000832101-26-000019 |
| 8-K Data (Synthetic) | 0000832101-26-000019 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 29, 2026 9w ago | 8-K | $229.52 $234.89 | ▲ +2.34% | ▼ −2.68% | $232.99 (+1.51%) |
Apr 29, 2026 22w ago | 8-K | $217.08 $209.83 | ▼ −3.34% | ▼ −9.39% | $232.99 (+7.33%) |
Mar 26, 2026 27w ago | DEFA14A | $189.57 $204.63 | ▲ +7.94% | ▼ −2.72% | $232.99 (+22.91%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access