Analyst Consensus ?
ConsensusHold29 ratings
Bullish1448.3%
Neutral1551.7%
Bearish00.0%
IDEX Corporation · IEX · FY2026 Q1 · Calendar Q2 2026
IDEX Beats on Q1 as HST Orders Surge 17%, Raises Full-Year Guidance
IDEX's Q1 FY2026 results mark an inflection from the modest 1-2% organic growth outlook maintained just one quarter ago. The Health & Science Technologies segment is the primary engine, with 17% organic order growth driven by AI-related data-center, semiconductor, and space-and-defense demand. A backlog build in HST now gives management visibility into growth through 2027, which supports the decision to raise full-year guidance to 3-4% organic growth and lift adjusted EPS to $8.35-$8.55. The 8020 strategic framework continues to deliver margin leverage, with adjusted EBITDA margin expanding 50 bps to 26%. While short-cycle industrial markets in FMT and FSDP remain soft, the divergence between high-growth HST and sluggish industrial segments is widening, and management is redirecting capital and CapEx toward HST capacity to capture that growth.
Reported Before market openNYSEIndustrials
$17.30B market cap
100quality score
Company context
Snapshot as of publicationIDEX Corporation is an international enterprise specializing in engineered solutions across diverse sectors. The company operates through three primary business units: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT division is responsible for the design, production, and distribution of a range of fluid-handling equipment, including positive displacement pumps, flow meters, and injectors, alongside offering flow monitoring and related services. Its applications span the food, chemical, general industrial, water management, agricultural, and energy industries. Under the HST umbrella, IDEX develops and supplies precision components and systems for health and scientific applications.…
Earnings scorecard
Reported versus consensus
Reported EPS
$2.00
Consensus $2
EPS surprise
+13.0%
Reported versus consensus
Reported revenue
$886.9M
Consensus $845.6M
Revenue surprise
+4.9%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$233.77Previous close
$180Low
$235Average
$268High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Jul 31, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| TD Cowen | Buy | Buy | Maintain | Jul 30, 2026 |
| Stifel | Buy | Buy | Maintain | Jul 30, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Jul 30, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 30, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Jul 21, 2026 |
| BMO Capital | Market Perform | Market Perform | Maintain | Mar 27, 2026 |
| Argus Research | Buy | Hold | Upgrade | Feb 6, 2026 |
| DA Davidson | Neutral | Neutral | Maintain | Feb 5, 2026 |
| Baird | Outperform | Outperform | Maintain | Oct 31, 2024 |
| Wells Fargo | Overweight | Overweight | Maintain | Apr 28, 2023 |
| Mizuho | Neutral | Neutral | Maintain | Apr 28, 2023 |
| Bernstein | Market Perform | Market Perform | Maintain | Apr 28, 2023 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jan 18, 2023 |
| Loop Capital | Hold | Hold | Maintain | Jul 19, 2022 |
| Cowen & Co. | Outperform | Market Perform | Upgrade | Mar 9, 2022 |
| Rosenblatt | Buy | Buy | Maintain | May 3, 2021 |
| Janney Montgomery Scott | Neutral | Buy | Downgrade | Apr 8, 2020 |
| Janney Capital | Neutral | Buy | Downgrade | Apr 8, 2020 |
| Stifel Nicolaus | Hold | Hold | Maintain | Jul 29, 2019 |
| Berenberg | Buy | Buy | Maintain | May 15, 2019 |
| UBS | Neutral | Neutral | Maintain | Jan 23, 2018 |
| KeyBanc | Equal Weight | Sector Weight | Maintain | May 23, 2016 |
| SunTrust Robinson Humphrey | Neutral | Neutral | Maintain | Nov 3, 2015 |
| Jefferies | Hold | Hold | Maintain | Jun 12, 2015 |
| Brean Capital | Buy | Hold | Upgrade | Jan 30, 2014 |
| Longbow Research | Neutral | Neutral | Maintain | Oct 1, 2013 |
| BB&T Capital | Hold | Hold | Maintain | Mar 15, 2013 |
| CL King | Neutral | Buy | Downgrade | Dec 12, 2012 |
| Barrington Research | Outperform | Outperform | Maintain | Jul 24, 2012 |
Named analyst price targets
Upside is calculated against the persisted previous close $233.77. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Oppenheimer | Analyst unavailable | $265 | $236.82 | +13.4% | Jul 30, 2026 |
| Stifel Nicolaus | Nathan Jones | $268 | $229.52 | +14.6% | Jul 30, 2026 |
| Stifel Nicolaus | Nathan Jones | $257 | $224.94 | +9.9% | Jul 20, 2026 |
| RBC Capital | Analyst unavailable | $261 | $227.6 | +11.6% | Jul 16, 2026 |
| Oppenheimer | Analyst unavailable | $250 | $207.59 | +6.9% | Jun 2, 2026 |
| Seaport Global | Walt Liptak | $250 | $215.78 | +6.9% | May 5, 2026 |
| RBC Capital | Analyst unavailable | $252 | $217.93 | +7.8% | Apr 30, 2026 |
| Stifel Nicolaus | Analyst unavailable | $250 | $217.68 | +6.9% | Apr 30, 2026 |
| Oppenheimer | Analyst unavailable | $242 | $217.34 | +3.5% | Apr 30, 2026 |
| Robert W. Baird | Analyst unavailable | $257 | $217.34 | +9.9% | Apr 30, 2026 |
| Stifel Nicolaus | Analyst unavailable | $241 | $205.12 | +3.1% | Apr 14, 2026 |
| BMO Capital | Analyst unavailable | $214 | $189.73 | -8.5% | Mar 26, 2026 |
| Seaport Global | Analyst unavailable | $240 | $212.26 | +2.7% | Feb 9, 2026 |
| Argus Research | Analyst unavailable | $240 | $212.94 | +2.7% | Feb 6, 2026 |
| RBC Capital | Analyst unavailable | $244 | $211.02 | +4.4% | Feb 5, 2026 |
| Oppenheimer | Bryan Blair | $230 | $209.86 | -1.6% | Feb 5, 2026 |
| Robert W. Baird | Michael Halloran | $247 | $212.25 | +5.7% | Feb 5, 2026 |
| Stifel Nicolaus | Analyst unavailable | $220 | $196.43 | -5.9% | Jan 23, 2026 |
| RBC Capital | Analyst unavailable | $211 | $194.99 | -9.7% | Jan 15, 2026 |
| RBC Capital | Analyst unavailable | $195 | $175.97 | -16.6% | Oct 30, 2025 |
| Stifel Nicolaus | Analyst unavailable | $191 | $167.51 | -18.3% | Oct 20, 2025 |
| Oppenheimer | Analyst unavailable | $210 | $167.05 | -10.2% | Oct 7, 2025 |
| D.A. Davidson | Analyst unavailable | $180 | $158.25 | -23.0% | Aug 4, 2025 |
| Mizuho Securities | Brett Linzey | $185 | $190.85 | -20.9% | May 16, 2025 |
| Robert W. Baird | Michael Halloran | $215 | $181.45 | -8.0% | May 2, 2025 |
| Mizuho Securities | Brett Linzey | $175 | $166.4 | -25.1% | Apr 22, 2025 |
| RBC Capital | Deane Dray | $248 | $218.64 | +6.1% | Oct 31, 2024 |
| D.A. Davidson | Matt Summerville | $210 | $194.12 | -10.2% | Aug 5, 2024 |
| Oppenheimer | Bryan Blair | $238 | $192.75 | +1.8% | Aug 5, 2024 |
| Robert W. Baird | Michael Halloran | $256 | $224.64 | +9.5% | Apr 25, 2024 |
| Stifel Nicolaus | Nathan Jones | $265 | $225.83 | +13.4% | Feb 8, 2024 |
| Stifel Nicolaus | Nathan Jones | $188 | $186.26 | -19.6% | Jul 18, 2022 |
| RBC Capital | Deane Dray | $238 | $188.06 | +1.8% | May 9, 2022 |
| Citigroup | Analyst unavailable | $235 | $191.15 | +0.5% | Apr 28, 2022 |
| Mizuho Securities | Analyst unavailable | $205 | $191.42 | -12.3% | Apr 28, 2022 |
| Bernstein | Brendan Luecke | $230 | $224.3 | -1.6% | Jan 10, 2022 |
| D.A. Davidson | Matt Summerville | $220 | $222.43 | -5.9% | Oct 28, 2021 |
| Morgan Stanley | Connor Lynagh | $250 | $225.91 | +6.9% | Apr 29, 2021 |
Track every rating change on IEX the moment it posts. Free to start.
Start freeMarket reaction
prior-close to event-session close
Stock move
+5.8%
Event window
SPY move
-0.0%
Same window
Abnormal move
+5.8%
Stock minus SPY
Volume
2.3×
Versus trailing sessions
Subsequent drift
-3.4%
Up to 20 sessions
IEXSPY benchmark
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Try FN2 freeTranscript intelligence
What changed
Organic revenue grew 5% year-over-year, up from the 1-2% pace guided in the prior quarter. Orders rose 10% organically, with HST orders surging 17%. Adjusted EBITDA margin expanded 50 basis points to 26%. EPS of $2.00 beat the $1.77 consensus by 13%, and revenue of $886.9M exceeded the $845.6M estimate by 4.9%. The stock rose 5.8% on the report before drifting 3.4% lower in subsequent sessions on 2.3x normal volume. Compared to the prior quarter, where guidance was merely maintained, management now raised both the organic growth and EPS outlook. CapEx outlook shifted from stable to increasing, with incremental investment directed at HST capacity. The IEEPA tariffs were repealed, and new administration tariffs are expected to have minimal net impact on IDEX.
Guidance delta
Management raised full-year organic revenue growth guidance from 1-2% to 3-4% and increased adjusted EPS guidance to $8.35-$8.55. This is an upgrade from the prior quarter, where guidance was maintained. Adjusted EBITDA margin target remains 26-27%. The $76M quarterly share repurchase program was reaffirmed. CapEx outlook shifted to increasing, focused on expanding HST capacity. Free cash flow conversion is targeted at or above 100% with $1.1 billion of liquidity.
Key takeaways
- Organic revenue grew 5% YoY with 10% organic order growth, led by a 17% surge in HST orders.
- EPS of $2.00 beat consensus by 13%; revenue of $886.9M beat by 4.9%.
- Full-year organic growth guidance raised from 1-2% to 3-4%; adjusted EPS raised to $8.35-$8.55.
- Adjusted EBITDA margin expanded 50 bps to 26%, with further expansion expected.
- HST backlog build provides growth visibility through 2027.
- Active bolt-on M&A pipeline with Mott, Muon, and Micro-LAM acquisitions extending capabilities in optics, filtration, and precision components.
Management priorities
- Deploy capital to support HST growth and increase CapEx, especially in HST capacity.
- Pursue bolt-on tuck-in acquisitions aligned with the 8020 platform strategy.
- Maintain the $76M quarterly share repurchase program.
- Improve margins of recently acquired businesses including Muon, Micro-LAM, and Mott.
- Leverage the 8020 framework to expand in space, defense, and high-value fluid and optics markets.
Related earnings events
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-31T08:01:01.075040+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-31T08:01:01.072281+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.