Attached files
| file | filename |
|---|---|
| 8-K - 8-K - IDEX CORP /DE/ | d574184d8k.htm |
| EX-99.2 - EX-99.2 - IDEX CORP /DE/ | d574184dex992.htm |
 Second Quarter 2013 Earnings Release
July 23, 2013
IDEX PROPRIETARY & CONFIDENTIAL
Exhibit 99.1 |
 2
IDEX PROPRIETARY & CONFIDENTIAL
Agenda
IDEX Outlook
Q2 Financial Performance
Q2 Segment Performance
Fluid & Metering
Health & Science
Fire & Safety / Diversified
Guidance Update
Q&A |
 3
Replay Information
•
Dial toll–free: 855.859.2056
•
International: 404.537.3406
•
Conference ID: #26074056
•
Log on to: www.idexcorp.com
IDEX PROPRIETARY & CONFIDENTIAL |
 4
IDEX PROPRIETARY & CONFIDENTIAL
This presentation
and
discussion
will
include
forward-
looking
statements.
Our actual
performance
may
differ
materially
from
that
indicated
or
suggested
by
any
such
statements.
There
are
a
number
of
factors
that
could cause those differences, including those presented in our most
recent annual report and other company filings with the SEC.
Cautionary Statement Under the Private Securities Litigation Reform Act
|
 5
IDEX Q2 Financial Performance
Revenue
Organic: 2% growth
70 bps expansion
46% growth
13% growth
EPS*
Operating Margin*
Free Cash Flow
* Q2
2012
EPS
/
Operating
Margin
data
adjusted
for
restructuring
expenses
($2.6M)
Outstanding EPS, Margin & FCF performance
IDEX PROPRIETARY & CONFIDENTIAL |
 6
IDEX PROPRIETARY & CONFIDENTIAL
Fluid & Metering
Orders
Revenue
Q2 Sales Mix:
Organic
7%
Acquisition
0%
Fx
0%
Total
7%
Q2
Summary:
Organic: 7% growth
280 bps expansion
Organic: 10% growth
Operating Margin*
* Q2 2012 Operating Margin data adjusted for restructuring expense
Q2 Operating margin of 24.9% up 280 bps
Municipal water services showing signs of stabilization in North
America
Ag orders pushed out of Q1 were realized in Q2
Energy continues to see benefit of rebounding LPG market in North America
Operating margin improved 280 bps on volume strength, the
continued benefit of cost-out actions and disciplined management
Excellent improvement in organic orders and revenue, driven by
strength in Energy and Ag |
 7
Health & Science
Orders
Revenue
Organic: 2% decline
250 bps expansion
Organic: 1% growth
Operating Margin*
* Q2 2012 Operating Margin data adjusted for restructuring expense
Q2 Sales Mix:
Organic
-2%
Acquisition
9%
Fx
-1%
Total
6%
Q2
Summary:
Successfully managed costs to deliver margin expansion
Organic sales declined year-over-year, but grew 2 percent sequentially
Operating margins expanded 250 basis points on the strength of focused
cost-out initiatives
Scientific Fluidics has strengthened in North America and Europe
Optics & Photonics operating margins have improved while order activity
remains challenged
IDEX PROPRIETARY & CONFIDENTIAL |
 8
Fire & Safety/Diversified
Orders
Revenue
Organic: 1% decline
270 bps decline
Organic: 3% growth
Operating Margin*
* Q2 2012 Operating Margin data adjusted for restructuring expense
Q2 Sales Mix:
Organic
-1%
Acquisition
0%
Fx
0%
Total
-1%
Q2
Summary:
facility consolidation
IDEX PROPRIETARY & CONFIDENTIAL
FSG continues to drive exceptional profitability improvements after
Op margin decline due to a charge associated with a facility closure
Strong organic order growth contributions from FSG and Dispensing
X-Smart product continues to gain traction in emerging markets
FSG & Rescue seeing pickup in Eastern European and Chinese markets
|
 9
IDEX PROPRIETARY & CONFIDENTIAL
Outlook: 2013 Guidance Summary
Q3 2013
•
EPS
estimate
range:
$0.72
–
$0.74
•
Organic
revenue
growth
~
3
–
4%
•
Positive revenue impact from acquisition of ~ 2%
•
Operating margin ~ 19%
FY 2013
–
Organic revenue growth ~ 3%
–
Positive revenue impact from acquisition of ~ 2%
–
Operating margin ~ 19%
–
Negative Fx impact ~ 1% to sales
–
Tax rate ~ 29%
–
Cap Ex ~ $36 -
$38M
–
Free Cash Flow will significantly exceed net income
–
Continued share repurchases
–
EPS estimate excludes future acquisitions and associated costs and charges
•
EPS estimate
range:
$2.93
–
$2.98
•
Other modeling items |
 10
IDEX PROPRIETARY & CONFIDENTIAL
Q&A |