EarningsQ2 2026 Earnings Report
MX:IEX Q2 2026 EPS Results
Actual EPS$42.13
Consensus EPS$38.26
Beat/MissBeat by +$3.87
One Year Ago EPS$37.59
MX:IEX Q2 2026 Revenue Results
Actual Revenue$16.72B
Expected Revenue$16.44B
Beat/MissBeat by +$276.50M
YoY Revenue Growth+6.38%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeBefore Open
Conference CallWednesday, July 29, 2026
MX:IEX Upcoming Earnings
IDEX's next earnings date is estimated for October 28, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:IEX Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong underlying operational performance and demand momentum, with multiple material positives: organic revenue and EPS growth, significant order expansion (28% overall; HST 47%), margin expansion, record orders and improved leverage and cash generation. Management raised full-year guidance and endorsed continued share repurchases while increasing targeted CapEx to support visible future volumes. Key headwinds were limited: segment-level softness in FMT and FSDP (small or single-digit revenue impacts and margin compression from mix/volume deleverage), and a one-time reporting effect from tariff refunds that reduced reported organic growth by ~2% but provided margin/earnings benefit. Overall the positives materially outweigh the challenges.Company Guidance
Revenue and Earnings Growth
Consolidated organic sales grew 5% year-over-year in Q2 2026; adjusted EPS increased 12% to $2.32 and adjusted gross margin expanded 110 basis points to 46.4%.
Adjusted EBITDA Margin Expansion
Adjusted EBITDA margin expanded 70 basis points year-over-year to 28.1% (net IEEPA benefit included). Excluding IEEPA refunds, EBITDA margin was toward the high end of Q2 guidance (26.5%–27%).
Exceptional Order Growth and Backlog Visibility
Total organic orders grew 28% in Q2 with record orders exceeding $1 billion; backlog and longer lead-time orders have increased visibility into 2027 for several advantaged end markets.
Health & Science Technologies (HST) Outperformance
HST orders rose 47% organically and HST organic revenue grew 12%; HST adjusted EBITDA margin expanded ~270 basis points year-over-year. HST now derives over one-third of revenue from data center, semiconductor and space & defense markets, and Mott's filtration business boosted recurring revenues within HST's semicon portfolio to ~50%.
Strong Free Cash Flow, Liquidity and Capital Return
Generated $177 million in free cash flow in Q2 and ended the quarter with over $1.1 billion in liquidity. Returned capital via $77 million of share repurchases in Q2 and $54 million of dividends, with planned quarterly repurchases of roughly $75 million for the rest of 2026.
Improved Leverage and Balance Sheet Strength
Gross leverage decreased from 2.1x to 1.9x year-over-year due to strong cash flow and earnings growth, providing flexibility for continued buybacks, bolt-on M&A or portfolio moves.
Raised Full-Year Guidance
Company raised full-year 2026 guidance: organic growth increased to 5%–6% (from 3%–4%), adjusted EBITDA margin guidance raised to 27%–27.3% (from 26.5%–27%), and adjusted EPS guidance increased to $8.70–$8.85 (from $8.35–$8.55), representing high single-digit to low double-digit year-over-year EPS growth.
Investments to Support Growth
CapEx guidance increased from $90 million to approximately $110 million to support select capacity expansions and throughput improvements in high-growth businesses; expenditures are targeted primarily within HST to enable 2027+ volume.
Positive Operational Execution and 8020 Implementation
Company cited strong operational execution, productivity gains and continued implementation of the 8020 program focused on integrating acquired, higher-growth businesses to drive margin expansion and scalability.
IEEPA Tariff Refunds Benefit
Received IEEPA-related tariff refunds in Q2 that produced a net benefit of $0.08 to adjusted EPS and contributed ~130 basis points of benefit to adjusted EBITDA margin for the quarter (segment impacts noted: HST ~90 bps, FMT ~180 bps, FSDP ~120 bps).
MX:IEX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed