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Idex Corp (IEX) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Idex Corp

CIK: 832101 Ticker: IEX


idexlogowtaglinejul22.jpg                                        

For further information:         TRADED: NYSE (IEX)                            EX-99.1
Investor Contact:                
William K. Grogan                         
Senior Vice President and Chief Financial Officer                     
(847) 498-7070        

TUESDAY, OCTOBER 23, 2018

IDEX REPORTS RECORD THIRD QUARTER RESULTS;
Q3 SALES UP 8 PERCENT OVERALL AND 9 PERCENT ORGANICALLY;
Q3 REPORTED EPS WAS $1.37 WITH ADJUSTED EPS OF $1.41

LAKE FOREST, IL, OCTOBER 23 - IDEX Corporation (NYSE: IEX) today announced its financial results for the three month period ended September 30, 2018.

Third Quarter 2018 Highlights
Orders were up 7 percent overall and 8 percent organically
Sales were up 8 percent overall and 9 percent organically
Reported operating margin was 23.3 percent with adjusted operating margin of 24.0 percent, up 200 bps
Reported EPS was $1.37 with adjusted EPS of $1.41, up 31 percent

Third Quarter 2018

Orders of $615.1 million were up 7 percent compared with the prior year period (+8 percent organic and -1 percent foreign currency translation).

Sales of $622.9 million were up 8 percent compared with the prior year period (+9 percent organic and -1 percent foreign currency translation).
  
Gross margin of 45.0 percent was up 10 basis points compared with the prior year period primarily due to productivity initiatives and volume leverage, partially offset by higher engineering costs.

Operating income of $145.1 million resulted in an operating margin of 23.3 percent. Excluding $4.6 million of restructuring expenses, adjusted operating income was $149.8 million with an adjusted operating margin of 24.0 percent, up 200 basis points compared with the prior year period primarily due to lower amortization and consulting expenses. Adjusted operating income drove adjusted EBITDA of $167.4 million which was 27 percent of sales and covered interest expense by 15 times.

Provision for income taxes of $26.9 million in the third quarter of 2018 resulted in an effective tax rate (ETR) of 20.2 percent, which was lower than the prior year period ETR of 26.4 percent primarily due to the enactment of U.S. tax reform in 2017 as well as a higher excess tax benefit from stock option exercises in the third quarter of 2018.

Net income was $106.4 million which resulted in EPS of $1.37. Excluding restructuring expenses, adjusted EPS of $1.41 increased 33 cents, or 31 percent, from prior year period EPS.

Cash from operations of $133.3 million led to free cash flow of $114.4 million, which was down 1 percent from the prior year period and 104 percent of adjusted net income. The decrease in free cash flow was primarily due to a discretionary defined benefit pension contribution of $10.3 million along with higher capital expenditures in the third quarter of 2018.




The following information was filed by Idex Corp (IEX) on Wednesday, October 24, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Idex Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Operations
Condensed Consolidated Statements Of Shareholders' Equity
Condensed Consolidated Statements Of Shareholders' Equity (Parenthetical)
Accrued Expenses
Accrued Expenses (Details)
Accrued Expenses (Tables)
Acquisitions And Divestitures
Acquisitions And Divestitures - Acquisitions (Details)
Acquisitions And Divestitures - Divestitures (Details)
Basis Of Presentation And Significant Accounting Policies
Basis Of Presentation And Significant Accounting Policies (Details)
Basis Of Presentation And Significant Accounting Policies (Policies)
Borrowings
Borrowings (Tables)
Borrowings - Narrative (Details)
Borrowings - Schedule Of Borrowings (Details)
Business Segments
Business Segments (Tables)
Business Segments - Narrative (Details)
Business Segments - Schedule Of Information On Company's Business Segments (Details)
Common And Preferred Stock
Common And Preferred Stock (Details)
Derivative Instruments
Derivative Instruments (Tables)
Derivative Instruments - Fair Value Amounts (Details)
Derivative Instruments - Narrative (Details)
Earnings Per Common Share
Earnings Per Common Share (Tables)
Earnings Per Common Share - Narrative (Details)
Earnings Per Common Share - Schedule Of Basic Weighted Average Shares Reconciles To Diluted Weighted Average Shares Outstanding (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Schedule Of Company Financial Assets And Liabilities At Fair Value On Recurring Basis (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Narrative (Details)
Goodwill And Intangible Assets - Schedule Of Changes In Carrying Amount Of Goodwill (Details)
Goodwill And Intangible Assets - Schedule Of Gross Carrying Value And Accumulated Amortization For Each Major Class Of Intangible Asset (Details)
Income Taxes
Income Taxes (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Legal Proceedings
Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss) (Tables)
Other Comprehensive Income (Loss) - Amounts Reclassified From Accumulated Other Comprehensive Income (Loss) (Details)
Other Comprehensive Income (Loss) - Components Of Other Comprehensive Income (Loss) (Details)
Other Noncurrent Liabilities
Other Noncurrent Liabilities (Details)
Other Noncurrent Liabilities (Tables)
Restructuring
Restructuring (Tables)
Restructuring - Narrative (Details)
Restructuring - Restructuring Accruals (Details)
Restructuring - Restructuring Costs (Details)
Retirement Benefits
Retirement Benefits (Tables)
Retirement Benefits - Components Of Net Periodic Benefit Cost For Defined Benefit Plans And Other Postretirement Plans (Details)
Retirement Benefits - Narrative (Details)
Revenue
Revenue (Tables)
Revenue - Additional Information (Details)
Revenue - Deferred Revenue (Details)
Revenue - Receivables (Details)
Revenue - Revenue By Geography (Details)
Revenue Revenue - Revenue By Reporting Unit (Details)
Share Based Compensation - Narrative (Details)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - Cash-Settled Restricted Stock Activity (Details)
Share-Based Compensation - Performance Share Unit Activity (Details)
Share-Based Compensation - Restricted Stock Units Activity (Details)
Share-Based Compensation - Schedule Of Compensation Cost For Cash-Settled Restricted Stock (Details)
Share-Based Compensation - Schedule Of Compensation Cost For Performance Share Units (Details)
Share-Based Compensation - Schedule Of Compensation Cost For Restricted Stock Units (Details)
Share-Based Compensation - Schedule Of Compensation Cost For Stock Options (Details)
Share-Based Compensation - Schedule Of Weighted Average Option Fair Values And Assumptions (Details)
Share-Based Compensation - Schedule Of Weighted Average Performance Share Units Fair Values And Assumptions (Details)
Share-Based Compensation - Stock Options Activity (Details)
Ticker: IEX
CIK: 832101
Form Type: 10-Q Quarterly Report
Accession Number: 0000832101-18-000045
Submitted to the SEC: Wed Oct 24 2018 2:10:02 PM EST
Accepted by the SEC: Wed Oct 24 2018
Period: Sunday, September 30, 2018
Industry: Pumps And Pumping Equipment

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