IDEX Lifts FY22 Profit Outlook

(RTTNews) - While reporting its results for the second quarter, IDEX Corp. (IEX) lifted its outlook for the full year 2022.

The company raised full-year earnings guidance to $7.19 to $7.29 per share from prior guidance of $6.87 to $7.00 per share. Adjusted earnings outlook was raised to $7.88 to $7.98 per share from prior guidance of $7.50 to $7.63 per share.

Analysts polled by Thomson Reuters currently expect earnings of $7.61 per share for the year.

Commenting on the second quarter results, CEO Eric Ashleman said, "IDEX delivered outstanding results in the second quarter, closing out a record first half of the year. In the second quarter, we achieved 12 percent organic sales growth, our fifth straight quarter of double-digit organic growth performance. We also delivered record adjusted EPS of $2.02, an increase of 15%. Operating margin performance remains strong, and we continue to invest in resources to drive innovation across our portfolio."

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