8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The

Securities Exchange Act of 1934

Date of report: July 25, 2019

(Date of earliest event reported)

IDEX CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	1-10235	36-3555336
(State or other jurisdiction	(Commission File Number)	(IRS Employer
of incorporation)		Identification No.)

1925 W. Field Court, Suite 200

Lake Forest, Illinois 60045

(Address of principal executive offices, including zip code)

(847) 498-7070

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 – Results of Operations and Financial Condition.

On July 25, 2019, IDEX Corporation (the “Company”) issued a press release announcing financial results for the period ended June 30, 2019.

A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information in this Current Report furnished pursuant to Item 2.02 shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. This information shall not be incorporated by reference into any registration statement pursuant to the Securities Act of 1933, as amended.

Item 7.01 – Regulation FD Disclosure.

Q22019 Presentation Slides

Presentation slides discussing IDEX Corporation’s quarterly operating results are attached to this Current Report on Form 8-K as Exhibit 99.2 and are incorporated herein by reference.

The Securities and Exchange Commission encourages companies to disclose forward-looking information so that investors can better understand the future prospects of a company and make informed investment decisions. This Current Report and the Exhibits hereto may contain “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements may relate to, among other things, capital expenditures, acquisitions, cost reductions, cash flow, revenues, earnings, market conditions, global economies and operating improvements, and are indicated by words or phrases such as “anticipates,” “estimates,” “plans,” “expects,” “projects,” “forecasts,” “should,” “could,” “will,” “management believes,” “the company believes,” “the company intends,” and similar words or phrases. These statements are subject to inherent uncertainties and risks that could cause actual results to differ materially from those anticipated at the date of this Current Report. The risks and uncertainties include, but are not limited to, the following: economic and political consequences resulting from terrorist attacks and wars; levels of industrial activity and economic conditions in the U.S. and other countries around the world; pricing pressures and other competitive factors, and levels of capital spending in certain industries, all of which could have a material impact on order rates and the Company's results, particularly in light of the low levels of order backlogs it typically maintains; the Company's ability to make acquisitions and to integrate and operate acquired businesses on a profitable basis; the relationship of the U.S. dollar to other currencies and its impact on pricing and cost competitiveness; political and economic conditions in foreign countries in which the Company operates; developments with respect to trade policy and tariffs; interest rates; capacity utilization and the effect this has on costs; labor markets; market conditions and material costs; and developments with respect to contingencies, such as litigation and environmental matters. Additional factors that could cause actual results to differ materially from those reflected in the forward-looking statements include, but are not limited to, the risks discussed in the “Risk Factors” section included in IDEX’s most recent annual report on Form 10-K filed with the Securities and Exchange Commission (SEC) and the other risks discussed in the Company’s filings with the SEC. The forward-looking statements included in this Current Report and the Exhibits hereto are only made as of the date of this Current Report, and management undertakes no obligation to publicly update them to reflect subsequent events or circumstances, except as may be required by law. Investors are cautioned not to rely unduly on forward-looking statements when evaluating the information presented herein.

The information in this Current Report furnished pursuant to Items 7.01 and 9.01 shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. This information shall not be incorporated by reference into any registration statement pursuant to the Securities Act of 1933, as amended. The furnishing of the information in this Current Report is not intended to, and does not, constitute a representation that such furnishing is required by Regulation FD or that the information this Current Report contains is material investor information that is not otherwise publicly available.

Item 9.01 – Financial Statements and Exhibits.

(a) Exhibits

99.1 Press release dated July 25, 2019 announcing IDEX Corporation’s quarterly operating results

99.2 Presentation slides of IDEX Corporation’s quarterly operating results

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

IDEX CORPORATION
	By:	/s/  WILLIAM K. GROGAN
		William K. Grogan
		Senior Vice President and Chief Financial Officer
July 26, 2019

EXHBIT INDEX

Exhibit Number	Description
99.1	Press release dated July 25, 2019
99.2	Presentation slides of IDEX Corporation’s quarterly operating results

EX-99.1

For further information: TRADED: NYSE (IEX)                            EX-99.1    

Investor Contact:

William K. Grogan

Senior Vice President and Chief Financial Officer

(847) 498-7070

THURSDAY, JULY 25, 2019

IDEX REPORTS SECOND QUARTER RESULTS;

DELIVERS RECORD OPERATING MARGIN AND EPS;

RAISES LOW END OF FULL YEAR EPS GUIDANCE

LAKE FOREST, IL, JULY 25 - IDEX Corporation (NYSE: IEX) today announced its financial results for the three month period ended June 30, 2019.

Second Quarter2019 Highlights

• Sales were up 1 percent overall and 3 percent organically

• Reported operating margin was 24.2 percent with adjusted operating margin of 24.5 percent, up 90 bps

• Reported EPS was $1.48 with adjusted EPS of $1.50, up 7 percent

• Acquired Velcora Holding AB in July

Second Quarter2019

Orders of $628.1 million were down2 percent compared with the prior year period (flat organic and -2 percent foreign currency translation).

Sales of $642.1 million were up1 percent compared with the prior year period (+3 percent organic and -2 percent foreign currency translation).

Gross margin of 45.5 percent was up 20 basis points compared with the prior year period primarily due to price, volume leverage and productivity initiatives, partially offset by higher engineering investments across all three segments.

Operating income of $155.3 million resulted in an operating margin of 24.2 percent. Excluding $2.1 million of restructuring expenses, adjusted operating income was $157.4 million with an adjusted operating margin of 24.5 percent, up90 basis points compared with the adjusted prior year period primarily due to gross margin expansion, lower 2019 amortization and variable compensation costs and the stamp duty charge included in the prior year. Adjusted operating income drove adjusted EBITDA of $177.0 million which was 28 percent of sales and covered interest expense by 16 times.

Provision for income taxes of $31.4 million in the second quarter of 2019 resulted in an effective tax rate (ETR) of 21.7 percent, which was flat compared with the prior year ETR. The 21.7 percent second quarter ETR was 80 basis points lower than our previously guided rate mainly due to a higher excess tax benefit from stock option exercises.

Net income was $113.2 million which resulted in EPS of $1.48. Excluding restructuring expenses, adjusted EPS was $1.50, an increase of 10 cents, or 7 percent, from the adjusted prior year period EPS.

Cash from operations of $131.2 million led to free cash flow of $118.3 million, which was up8 percent from the prior year period and 103 percent of adjusted net income. The increase in free cash flow was primarily due to increased earnings and favorable operating working capital, partially offset by higher capital expenditures in the second quarter of 2019.

The Company repurchased 19 thousand shares of common stock for $3.0 million in the second quarter of 2019, at an average price of $154.73.

“Our performance in the second quarter was a great example of how our teams can execute in a volatile environment. Lingering trade tensions during the second quarter caused growth to decelerate across the global economy as companies are employing a wait and see approach in the near term. We also continue to see specific market pressure within our agriculture, semiconductor and auto end markets. In spite of this pressure, we grew organic sales by 3 percent across all three segments. Adjusted operating margin remains a great story, increasing 90 basis points and reaching an all-time quarterly high. Adjusted EPS grew 7 percent and reached a record high of $1.50. Overall, I am pleased with our second quarter operating results in this choppy environment.
Our commitment to invest in the best organic growth opportunities continues to be paramount as the second quarter was our tenth consecutive quarter of organic sales growth. M&A remains a top priority for the Company as well, and last week we announced the acquisition of Velcora Holding, a great addition to our Sealing Solutions platform within our Health & Science segment. The M&A funnel is strong, and our balance sheet has significant capacity to support additional opportunities.
Despite the flat order growth in the second quarter and an uncertain macro environment, we expect to continue our streak of quarterly organic sales growth and margin expansion for the balance of the year. As a result, we are raising the low end of our full year earnings guidance by 8 cents. Full year 2019 adjusted EPS is now projected to be $5.78 to $5.85, with full year organic revenue growth expectations of 3 to 4 percent. Third quarter EPS is projected to be $1.45 to $1.47, with organic revenue growth of approximately 3 percent.”
	Andrew K. Silvernail
	Chairman and Chief Executive Officer

Second Quarter2019 Segment Highlights

Fluid & Metering Technologies

• Sales of $246.2 million reflected a 1 percent increase compared to the second quarter of 2018 (+3 percent organic and -2 percent foreign currency translation).

• Operating income of $74.1 million resulted in an operating margin of 30.1 percent. Excluding $0.9 million of restructuring expenses, adjusted operating income was $75.0 million with an adjusted operating margin of 30.5 percent, a 100 basis point increase compared to the adjusted prior year period primarily due to higher volume, price and productivity initiatives, partially offset by higher engineering investments.

• EBITDA of $79.5 million resulted in an EBITDA margin of 32.3 percent. Excluding $0.9 million of restructuring expenses, adjusted EBITDA of $80.4 million resulted in an adjusted EBITDA margin of 32.7 percent, a 110 basis point increase compared to the adjusted prior year period primarily due to increased operating income.

Health & Science Technologies

• Sales of $232.3 million reflected a 2 percent increase compared to the second quarter of 2018 (+3 percent organic, +1 percent acquisition and -2 percent foreign currency translation).

• Operating income of $56.8 million resulted in an operating margin of 24.4 percent. Excluding $0.3 million of restructuring expenses, adjusted operating income was $57.1 million with an adjusted operating margin of 24.6 percent, a 100 basis point increase compared to the adjusted prior year period primarily due to higher volume and lower amortization, partially offset by higher engineering investments.

• EBITDA of $66.3 million resulted in an EBITDA margin of 28.6 percent. Excluding $0.3 million of restructuring expenses, adjusted EBITDA of $66.6 million resulted in an adjusted EBITDA margin of 28.7 percent, a 40 basis point increase compared to the adjusted prior year period primarily due to increased operating income.

Fire & Safety/Diversified Products

• Sales of $164.0 million were flat compared to the second quarter of 2018 (+3 percent organic and -3 percent foreign currency translation).

• Operating income of $43.6 million resulted in an operating margin of 26.6 percent. Excluding $0.8 million of restructuring expenses, adjusted operating income was $44.4 million with an adjusted operating margin of 27.1 percent, a 100 basis point decrease compared to the adjusted prior year period primarily due to product mix and higher engineering investments.

• EBITDA of $47.5 million resulted in an EBITDA margin of 28.9 percent. Excluding $0.8 million of restructuring expenses, adjusted EBITDA of $48.3 million resulted in an adjusted EBITDA margin of 29.4 percent, a 90 basis point decrease compared to the adjusted prior year period primarily due to a decrease in operating income.

For the second quarter of 2019, Fluid & Metering Technologies contributed 38 percent of sales, 42 percent of operating income and 41 percent of EBITDA; Health & Science Technologies accounted for 36 percent of sales, 33 percent of operating income and 34 percent of EBITDA; and Fire & Safety/Diversified Products represented 26 percent of sales, 25 percent of operating income and 25 percent of EBITDA.

Corporate Costs

Corporate costs decreased to $19.2 million in the second quarter of 2019 compared to $21.6 million in the second quarter of 2018, primarily due to the prior year period including a $2.2 million stamp duty in Switzerland associated with the restructuring of intercompany loans.

Acquisition

In July 2019, the Company acquired Velcora Holding AB and its Roplan and Steridose businesses. Roplan is a global manufacturer of custom mechanical and shaft seals for a variety of end markets including food & beverage, marine, chemical, wastewater and water treatment. Steridose develops engineered hygienic mixers and valves for the global biopharmaceutical industry. Roplan and Steridose, with annual revenue of approximately $40 million, will operate within the Health & Science Technologies segment.

Non-U.S. GAAP Measures of Financial Performance

The Company supplements certain U.S. GAAP financial performance metrics with non-U.S. GAAP financial performance metrics in order to provide investors with better insight and increased transparency while also allowing for a more comprehensive understanding of the financial information used by management in its decision making. Reconciliations of non-U.S. GAAP financial performance metrics to their most comparable U.S. GAAP financial performance metrics are defined and presented below and should not be considered a substitute for, nor superior to, the financial data prepared in accordance with U.S. GAAP. There were no adjustments to U.S. GAAP financial performance metrics other than the items noted below.

• Organic orders and sales are calculated excluding amounts from acquired or divested businesses during the first twelve months of ownership or divestiture and the impact of foreign currency translation.

• Adjusted operating income is calculated as operating income plus restructuring expenses.

• Adjusted operating margin is calculated as adjusted operating income divided by net sales.

• Adjusted net income is calculated as net income plus restructuring expenses, net of the statutory tax expense or benefit.

• EBITDA is calculated as net income plus interest expense plus provision for income taxes plus depreciation and amortization. We reconciled EBITDA to net income on a consolidated basis as we do not allocate consolidated interest expense or consolidated provision for income taxes to our segments.

• Adjusted EBITDA is calculated as EBITDA plus restructuring expenses.

• Free cash flow is calculated as cash flow from operating activities less capital expenditures.

Table 1: Reconciliations of the Change in Net Sales to Organic Net Sales

	Three Months Ended   June 30, 2019								Six Months Ended   June 30, 2019
	FMT		HST		FSDP		IDEX		FMT		HST		FSDP		IDEX
Change in net sales	1	%	2	%	—	%	1	%	3	%	2	%	(1	)%	1	%
- Net impact from acquisitions	—	%	1	%	—	%	—	%	—	%	1	%	—	%	—	%
- Impact from FX	(2	)%	(2	)%	(3	)%	(2	)%	(2	)%	(2	)%	(3	)%	(2	)%
Change in organic net sales	3	%	3	%	3	%	3	%	5	%	3	%	2	%	3	%

Table 2: Reconciliations of Reported-to-Adjusted Operating Income and Margin (dollars in thousands)

	Three Months Ended June 30,
	2019															2018
	FMT			HST			FSDP			Corporate			IDEX			FMT			HST			FSDP			Corporate			IDEX
Reported operating income (loss)	$	74,146		$	56,763		$	43,614		$	(19,240	)	$	155,283		$	71,228		$	52,569		$	45,882		$	(21,848	)	$	147,831
+ Restructuring expenses	930			330			819			47			2,126			343			1,123			267			255			1,988
Adjusted operating income (loss)	$	75,076		$	57,093		$	44,433		$	(19,193	)	$	157,409		$	71,571		$	53,692		$	46,149		$	(21,593	)	$	149,819
Net sales (eliminations)	$	246,189		$	232,253		$	164,043		$	(386	)	$	642,099		$	242,800		$	227,403		$	164,300		$	(143	)	$	634,360
Reported operating margin	30.1		%	24.4		%	26.6		%	n/m			24.2		%	29.3		%	23.1		%	27.9		%	n/m			23.3		%
Adjusted operating margin	30.5		%	24.6		%	27.1		%	n/m			24.5		%	29.5		%	23.6		%	28.1		%	n/m			23.6		%

	Six Months Ended June 30,
	2019															2018
	FMT			HST			FSDP			Corporate			IDEX			FMT			HST			FSDP			Corporate			IDEX
Reported operating income (loss)	$	146,012		$	110,917		$	83,942		$	(37,806	)	$	303,065		$	137,394		$	104,375		$	85,436		$	(42,691	)	$	284,514
+ Restructuring expenses	930			330			819			47			2,126			486			2,182			367			595			3,630
Adjusted operating income (loss)	$	146,942		$	111,247		$	84,761		$	(37,759	)	$	305,191		$	137,880		$	106,557		$	85,803		$	(42,096	)	$	288,144
Net sales (eliminations)	$	488,711		$	457,543		$	320,202		$	(2,126	)	$	1,264,330		$	475,133		$	448,478		$	323,473		$	(400	)	$	1,246,684
Reported operating margin	29.9		%	24.2		%	26.2		%	n/m			24.0		%	28.9		%	23.3		%	26.4		%	n/m			22.8		%
Adjusted operating margin	30.1		%	24.3		%	26.5		%	n/m			24.1		%	29.0		%	23.8		%	26.5		%	n/m			23.1		%

Table 3: Reconciliations of Reported-to-Adjusted Net Income and EPS(in thousands, except EPS)

	Three Months Ended   June 30,						Six Months Ended   June 30,
	2019			2018			2019			2018
Reported net income	$	113,209		$	107,126		$	223,477		$	206,084
+ Restructuring expenses	2,126			1,988			2,126			3,630
+ Tax impact on restructuring expenses	(560		)	(494		)	(560		)	(873		)
Adjusted net income	$	114,775		$	108,620		$	225,043		$	208,841

	Three Months Ended   June 30,						Six Months Ended   June 30,
	2019			2018			2019			2018
Reported diluted EPS	$	1.48		$	1.38		$	2.92		$	2.65
+ Restructuring expenses	0.03			0.03			0.03			0.05
+ Tax impact on restructuring expenses	(0.01		)	(0.01		)	(0.01		)	(0.01		)
Adjusted diluted EPS	$	1.50		$	1.40		$	2.94		$	2.69
Diluted weighted average shares outstanding	76,387			77,704			76,334			77,722

Table 4: Reconciliations of EBITDA to Net Income(dollars in thousands)

	Three Months Ended June 30,
	2019															2018
	FMT			HST			FSDP			Corporate			IDEX			FMT			HST			FSDP			Corporate			IDEX
Reported operating income (loss)	$	74,146		$	56,763		$	43,614		$	(19,240	)	$	155,283		$	71,228		$	52,569		$	45,882		$	(21,848	)	$	147,831
- Other (income) expense - net	239			80			(140		)	(557		)	(378		)	511			(463		)	(45		)	(53		)	(50		)
+ Depreciation and amortization	5,640			9,635			3,717			172			19,164			5,707			10,090			3,597			176			19,570
EBITDA	79,547			66,318			47,471			(18,511		)	174,825			76,424			63,122			49,524			(21,619		)	167,451
- Interest expense													11,011															11,140
- Provision for income taxes													31,441															29,615
- Depreciation and amortization													19,164															19,570
Reported net income													$	113,209														$	107,126
Net sales (eliminations)	$	246,189		$	232,253		$	164,043		$	(386	)	$	642,099		$	242,800		$	227,403		$	164,300		$	(143	)	$	634,360
Reported operating margin	30.1		%	24.4		%	26.6		%	n/m			24.2		%	29.3		%	23.1		%	27.9		%	n/m			23.3		%
EBITDA margin	32.3		%	28.6		%	28.9		%	n/m			27.2		%	31.5		%	27.8		%	30.1		%	n/m			26.4		%

	Six Months Ended June 30,
	2019															2018
	FMT			HST			FSDP			Corporate			IDEX			FMT			HST			FSDP			Corporate			IDEX
Reported operating income (loss)	$	146,012		$	110,917		$	83,942		$	(37,806	)	$	303,065		$	137,394		$	104,375		$	85,436		$	(42,691	)	$	284,514
- Other (income) expense - net	317			364			365			(1,564		)	(518		)	645			(1,060		)	(3,666		)	(418		)	(4,499		)
+ Depreciation and amortization	11,146			19,142			7,179			356			37,823			11,401			21,479			7,371			373			40,624
EBITDA	156,841			129,695			90,756			(35,886		)	341,406			148,150			126,914			96,473			(41,900		)	329,637
- Interest expense													21,932															22,140
- Provision for income taxes													58,174															60,789
- Depreciation and amortization													37,823															40,624
Reported net income													$	223,477														$	206,084
Net sales (eliminations)	$	488,711		$	457,543		$	320,202		$	(2,126	)	$	1,264,330		$	475,133		$	448,478		$	323,473		$	(400	)	$	1,246,684
Reported operating margin	29.9		%	24.2		%	26.2		%	n/m			24.0		%	28.9		%	23.3		%	26.4		%	n/m			22.8		%
EBITDA margin	32.1		%	28.3		%	28.3		%	n/m			27.0		%	31.2		%	28.3		%	29.8		%	n/m			26.4		%

Table 5: Reconciliations of EBITDA to Adjusted EBITDA(dollars in thousands)

	Three Months Ended June 30,
	2019															2018
	FMT			HST			FSDP			Corporate			IDEX			FMT			HST			FSDP			Corporate			IDEX
EBITDA	$	79,547		$	66,318		$	47,471		$	(18,511	)	$	174,825		$	76,424		$	63,122		$	49,524		$	(21,619	)	$	167,451
+ Restructuring expenses	930			330			819			47			2,126			343			1,123			267			255			1,988
Adjusted EBITDA	$	80,477		$	66,648		$	48,290		$	(18,464	)	$	176,951		$	76,767		$	64,245		$	49,791		$	(21,364	)	$	169,439
Adjusted EBITDA margin	32.7		%	28.7		%	29.4		%	n/m			27.6		%	31.6		%	28.3		%	30.3		%	n/m			26.7		%

	Six Months Ended June 30,
	2019															2018
	FMT			HST			FSDP			Corporate			IDEX			FMT			HST			FSDP			Corporate			IDEX
EBITDA	$	156,841		$	129,695		$	90,756		$	(35,886	)	$	341,406		$	148,150		$	126,914		$	96,473		$	(41,900	)	$	329,637
+ Restructuring expenses	930			330			819			47			2,126			486			2,182			367			595			3,630
Adjusted EBITDA	$	157,771		$	130,025		$	91,575		$	(35,839	)	$	343,532		$	148,636		$	129,096		$	96,840		$	(41,305	)	$	333,267
Adjusted EBITDA margin	32.3		%	28.4		%	28.6		%	n/m			27.2		%	31.3		%	28.8		%	29.9		%	n/m			26.7		%

Table 6: Reconciliations of Cash Flows from Operating Activities to Free Cash Flow(in thousands)

	Three Months Ended						Six Months Ended
	June 30,				March 31,		June 30,
	2019		2018		2019		2019		2018
Cash flows from operating activities	$	131,175	$	120,697	$	88,663	$	219,838	$	192,426
- Capital expenditures	12,867		10,959		12,875		25,742		20,968
Free cash flow	$	118,308	$	109,738	$	75,788	$	194,096	$	171,458

Conference Call to be Broadcast over the Internet

IDEX will broadcast its second quarter earnings conference call over the Internet on Friday, July 26, 2019 at 9:30 a.m. CT. Chairman and Chief Executive Officer Andy Silvernail and Senior Vice President and Chief Financial Officer William Grogan will discuss the Company’s recent financial performance and respond to questions from the financial analyst community. IDEX invites interested investors to listen to the call and view the accompanying slide presentation, which will be carried live on its website at www.idexcorp.com. Those who wish to participate should log on several minutes before the discussion begins. After clicking on the presentation icon, investors should follow the instructions to ensure their systems are set up to hear the event and view the presentation slides, or download the correct applications at no charge. Investors will also be able to hear a replay of the call by dialing 877.660.6853 (or 201.612.7415 for international participants) using the ID #13684163.

Forward-Looking Statements

This news release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements may relate to, among other things, capital expenditures, acquisitions, cost reductions, cash flow, revenues, earnings, market conditions, global economies and operating improvements, and are indicated by words or phrases such as “anticipates,” “estimates,” “plans,” “expects,” “projects,” “forecasts,” “should,” “could,” “will,” “management believes,” “the Company believes,” “the Company intends,” and similar words or phrases. These statements are subject to inherent uncertainties and risks that could cause actual results to differ materially from those anticipated at the date of this news release. The risks and uncertainties include, but are not limited to, the following: economic and political consequences resulting from terrorist attacks and wars; levels of industrial activity and economic conditions in the U.S. and other countries around the world; pricing pressures and other competitive factors and levels of capital spending in certain industries, all of which could have a material impact on order rates and the Company's results, particularly in light of the low levels of order backlogs it typically maintains; the Company's ability to make acquisitions and to integrate and operate acquired businesses on a profitable basis; the relationship of the U.S. dollar to other currencies and its impact on pricing and cost competitiveness; political and economic conditions in foreign countries in which the Company operates; developments with respect to trade policy and tariffs; interest rates; capacity utilization and the effect this has on costs; labor markets; market conditions and material costs; and developments with respect to contingencies, such as litigation and environmental matters. Additional factors that could cause actual results to differ materially from those reflected in the forward-looking statements include, but are not limited to, the risks discussed in the “Risk Factors” section included in the Company’s most recent annual report on Form 10-K filed with the SEC and the other risks discussed in the Company’s filings with the SEC. The forward-looking statements included here are only made as of the date of this news release, and management undertakes no obligation to publicly update them to reflect subsequent events or circumstances, except as may be required by law. Investors are cautioned not to rely unduly on forward-looking statements when evaluating the information presented here.

About IDEX

IDEX (NYSE: IEX) is a company that has undoubtedly touched your life in some way. In fact, IDEX businesses make thousands of products that are mission-critical components in everyday activities. Chances are the car you’re driving has a BAND-IT® clamp holding your side airbag safely in place. If you were ever in a car accident, a Hurst Jaws of Life® rescue tool may have saved your life. If you or a family member is battling cancer, your doctor may have tested your DNA in a quest to find the best targeted medicine for you. It’s likely your DNA test was run on equipment that contains components made by our growing IDEX Health & Science team. Founded in 1988 with three small, entrepreneurial manufacturing companies, we’re proud to say that we now call 40 diverse businesses around the world part of the IDEX family. With 7,000 employees and manufacturing operations in more than 20 countries, IDEX is a high-performing, global $2+ billion company committed to making trusted solutions that improve lives. IDEX shares are traded on the New York Stock Exchange under the symbol “IEX”.

For further information on IDEX Corporation and its business units, visit the company’s website at www.idexcorp.com.

(Financial reports follow)

IDEX CORPORATION

Condensed Consolidated Statements of Operations

(in thousands except per share amounts)

(unaudited)

	Three Months Ended   June 30,						Six Months Ended   June 30,
	2019			2018			2019			2018
Net sales	$	642,099		$	634,360		$	1,264,330		$	1,246,684
Cost of sales	349,762			346,993			688,159			682,665
Gross profit	292,337			287,367			576,171			564,019
Selling, general and administrative expenses	134,928			137,548			270,980			275,875
Restructuring expenses	2,126			1,988			2,126			3,630
Operating income	155,283			147,831			303,065			284,514
Other (income) expense - net	(378		)	(50		)	(518		)	(4,499		)
Interest expense	11,011			11,140			21,932			22,140
Income before income taxes	144,650			136,741			281,651			266,873
Provision for income taxes	31,441			29,615			58,174			60,789
Net income	$	113,209		$	107,126		$	223,477		$	206,084
Earnings per Common Share:
Basic earnings per common share	$	1.50		$	1.40		$	2.96		$	2.69
Diluted earnings per common share	$	1.48		$	1.38		$	2.92		$	2.65
Share Data:
Basic weighted average common shares outstanding	75,460			76,539			75,450			76,479
Diluted weighted average common shares outstanding	76,387			77,704			76,334			77,722

IDEX CORPORATION

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)

	June 30,   2019		December 31,   2018
Assets
Current assets
Cash and cash equivalents	$	543,189	$	466,407
Receivables - net	326,358		312,192
Inventories	301,006		279,995
Other current assets	46,329		33,938
Total current assets	1,216,882		1,092,532
Property, plant and equipment - net	275,025		281,220
Goodwill and intangible assets	2,063,073		2,081,282
Other noncurrent assets	85,235		18,823
Total assets	$	3,640,215	$	3,473,857
Liabilities and shareholders' equity
Current liabilities
Trade accounts payable	$	160,579	$	143,196
Accrued expenses	162,838		187,536
Short-term borrowings	452		483
Dividends payable	37,922		33,446
Total current liabilities	361,791		364,661
Long-term borrowings	848,555		848,335
Other noncurrent liabilities	317,828		266,221
Total liabilities	1,528,174		1,479,217
Shareholders' equity	2,112,041		1,994,640
Total liabilities and shareholders' equity	$	3,640,215	$	3,473,857

IDEX CORPORATION

Condensed Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

	Six Months Ended June 30,
	2019			2018
Cash flows from operating activities
Net income	$	223,477		$	206,084
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	19,870			19,957
Amortization of intangible assets	17,953			20,667
Amortization of debt issuance expenses	669			664
Share-based compensation expense	14,413			13,252
Deferred income taxes	10,685			(3,021		)
Non-cash interest expense associated with forward starting swaps	3,171			3,259
Changes in (net of the effect from acquisitions):
Receivables	(14,177		)	(40,044		)
Inventories	(21,007		)	(28,011		)
Other current assets	(12,382		)	17,798
Trade accounts payable	17,276			5,432
Accrued expenses	(39,602		)	(21,131		)
Other - net	(508		)	(2,480		)
Net cash flows provided by operating activities	219,838			192,426
Cash flows from investing activities
Purchases of property, plant and equipment	(25,742		)	(20,968		)
Purchase of intellectual property	—			(4,000		)
Proceeds from disposal of fixed assets	780			—
Other - net	501			(861		)
Net cash flows used in investing activities	(24,461		)	(25,829		)
Cash flows from financing activities
Dividends paid	(71,283		)	(61,916		)
Proceeds from stock option exercises	20,761			13,616
Purchases of common stock	(54,668		)	(19,499		)
Shares surrendered for tax withholding	(11,509		)	(10,750		)
Settlement of foreign exchange contracts	—			6,593
Other - net	(1,929		)	—
Net cash flows used in financing activities	(118,628		)	(71,956		)
Effect of exchange rate changes on cash and cash equivalents	33			(11,840		)
Net increase in cash	76,782			82,801
Cash and cash equivalents at beginning of year	466,407			375,950
Cash and cash equivalents at end of period	$	543,189		$	458,751

IDEX CORPORATION

Company and Segment Financial Information - Reported

(dollars in thousands)

(unaudited)

	Three Months Ended June 30, (a)						Six Months Ended June 30, (a)
	2019			2018			2019			2018
Fluid & Metering Technologies
Net sales	$	246,189		$	242,800		$	488,711		$	475,133
Operating income (b)	74,146			71,228			146,012			137,394
Operating margin	30.1		%	29.3		%	29.9		%	28.9		%
EBITDA	$	79,547		$	76,424		$	156,841		$	148,150
EBITDA margin	32.3		%	31.5		%	32.1		%	31.2		%
Depreciation and amortization	$	5,640		$	5,707		$	11,146		$	11,401
Capital expenditures	3,350			3,981			6,580			8,655
Health & Science Technologies
Net sales	$	232,253		$	227,403		$	457,543		$	448,478
Operating income (b)	56,763			52,569			110,917			104,375
Operating margin	24.4		%	23.1		%	24.2		%	23.3		%
EBITDA	$	66,318		$	63,122		$	129,695		$	126,914
EBITDA margin	28.6		%	27.8		%	28.3		%	28.3		%
Depreciation and amortization	$	9,635		$	10,090		$	19,142		$	21,479
Capital expenditures	5,913			5,351			11,217			8,682
Fire & Safety/Diversified Products
Net sales	$	164,043		$	164,300		$	320,202		$	323,473
Operating income (b)	43,614			45,882			83,942			85,436
Operating margin	26.6		%	27.9		%	26.2		%	26.4		%
EBITDA	$	47,471		$	49,524		$	90,756		$	96,473
EBITDA margin	28.9		%	30.1		%	28.3		%	29.8		%
Depreciation and amortization	$	3,717		$	3,597		$	7,179		$	7,371
Capital expenditures	3,534			1,627			6,487			3,445
Corporate Office and Eliminations
Intersegment sales eliminations	$	(386	)	$	(143	)	$	(2,126	)	$	(400	)
Operating income (b)	(19,240		)	(21,848		)	(37,806		)	(42,691		)
EBITDA	(18,511		)	(21,619		)	(35,886		)	(41,900		)
Depreciation and amortization	172			176			356			373
Capital expenditures	70			—			1,458			186
Company
Net sales	$	642,099		$	634,360		$	1,264,330		$	1,246,684
Operating income	155,283			147,831			303,065			284,514
Operating margin	24.2		%	23.3		%	24.0		%	22.8		%
EBITDA	$	174,825		$	167,451		$	341,406		$	329,637
EBITDA margin	27.2		%	26.4		%	27.0		%	26.4		%
Depreciation and amortization (c)	$	19,164		$	19,570		$	37,823		$	40,624
Capital expenditures	12,867			10,959			25,742			20,968

IDEX CORPORATION

Company and Segment Financial Information - Adjusted

(dollars in thousands)

(unaudited)

		Three Months Ended June 30, (a)						Six Months Ended June 30, (a)
		2019			2018			2019			2018
	Fluid & Metering Technologies
	Net sales	$	246,189		$	242,800		$	488,711		$	475,133
	Adjusted operating income (b)	75,076			71,571			146,942			137,880
	Adjusted operating margin	30.5		%	29.5		%	30.1		%	29.0		%
	Adjusted EBITDA	$	80,477		$	76,767		$	157,771		$	148,636
	Adjusted EBITDA margin	32.7		%	31.6		%	32.3		%	31.3		%
	Depreciation and amortization	$	5,640		$	5,707		$	11,146		$	11,401
	Capital expenditures	3,350			3,981			6,580			8,655
	Health & Science Technologies
	Net sales	$	232,253		$	227,403		$	457,543		$	448,478
	Adjusted operating income (b)	57,093			53,692			111,247			106,557
	Adjusted operating margin	24.6		%	23.6		%	24.3		%	23.8		%
	Adjusted EBITDA	$	66,648		$	64,245		$	130,025		$	129,096
	Adjusted EBITDA margin	28.7		%	28.3		%	28.4		%	28.8		%
	Depreciation and amortization	$	9,635		$	10,090		$	19,142		$	21,479
	Capital expenditures	5,913			5,351			11,217			8,682
	Fire & Safety/Diversified Products
	Net sales	$	164,043		$	164,300		$	320,202		$	323,473
	Adjusted operating income (b)	44,433			46,149			84,761			85,803
	Adjusted operating margin	27.1		%	28.1		%	26.5		%	26.5		%
	Adjusted EBITDA	$	48,290		$	49,791		$	91,575		$	96,840
	Adjusted EBITDA margin	29.4		%	30.3		%	28.6		%	29.9		%
	Depreciation and amortization	$	3,717		$	3,597		$	7,179		$	7,371
	Capital expenditures	3,534			1,627			6,487			3,445
	Corporate Office and Eliminations
	Intersegment sales eliminations	$	(386	)	$	(143	)	$	(2,126	)	$	(400	)
	Adjusted operating income (b)	(19,193		)	(21,593		)	(37,759		)	(42,096		)
	Adjusted EBITDA	(18,464		)	(21,364		)	(35,839		)	(41,305		)
	Depreciation and amortization	172			176			356			373
	Capital expenditures	70			—			1,458			186
	Company
	Net sales	$	642,099		$	634,360		$	1,264,330		$	1,246,684
	Adjusted operating income	157,409			149,819			305,191			288,144
	Adjusted operating margin	24.5		%	23.6		%	24.1		%	23.1		%
	Adjusted EBITDA	$	176,951		$	169,439		$	343,532		$	333,267
	Adjusted EBITDA margin	27.6		%	26.7		%	27.2		%	26.7		%
	Depreciation and amortization (c)	$	19,164		$	19,570		$	37,823		$	40,624
	Capital expenditures	12,867			10,959			25,742			20,968
(a)	Three and six month data includes the results of Finger Lakes Instrumentation (July 2018) in the Health & Science Technologies segment from the date of acquisition.
(b)	Segment operating income excludes unallocated corporate operating expenses which are included in Corporate Office and Eliminations.
(c)	Depreciation and amortization excludes amortization of debt issuance costs.

EX-99.2

Second Quarter 2019 Earnings July 26, 2019 IDEX Proprietary & Confidential

AGENDA • IDEX’s Overview and Outlook • Q2 Financial Performance • Segment Performance • Fluid & Metering Technologies • Health & Science Technologies • Fire & Safety / Diversified Products • 2019 Guidance Summary • Q&A Brand names shown in this presentation are registered trademarks of IDEX Corporation and/or its subsidiaries IDEX Proprietary & Confidential 1

Replay Information • Dial toll–free: 877.660.6853 • International: 201.612.7415 • Conference ID: #13684163 • Log on to: www.idexcorp.com Brand names shown in this presentation are registered trademarks of IDEX Corporation and/or its subsidiaries IDEX Proprietary & Confidential 2

Cautionary Statement Under the Private Securities Litigation Reform Act; Non-GAAP Measures This presentation and discussion will include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements may relate to, among other things, capital expenditures, acquisitions, cost reductions, cash flow, revenues, earnings, market conditions, global economies and operating improvements, and are indicated by words or phrases such as “anticipates,” “estimates,” “plans,” “expects,” “projects,” “forecasts,” “should,” “could,” “will,” “management believes,” “the company believes,” “the company intends,” and similar words or phrases. These statements are subject to inherent uncertainties and risks that could cause actual results to differ materially from those anticipated at the date of this news release. The risks and uncertainties include, but are not limited to, the following: economic and political consequences resulting from terrorist attacks and wars; levels of industrial activity and economic conditions in the U.S. and other countries around the world; pricing pressures and other competitive factors, and levels of capital spending in certain industries – all of which could have a material impact on order rates and IDEX’s results, particularly in light of the low levels of order backlogs it typically maintains; its ability to make acquisitions and to integrate and operate acquired businesses on a profitable basis; the relationship of the U.S. dollar to other currencies and its impact on pricing and cost competitiveness; political and economic conditions in foreign countries in which the company operates; interest rates; capacity utilization and the effect this has on costs; labor markets; market conditions and material costs; and developments with respect to contingencies, such as litigation and environmental matters. Additional factors that could cause actual results to differ materially from those reflected in the forward-looking statements include, but are not limited to, the risks discussed in the “Risk Factors” section included in the company’s most recent annual report on Form 10-K filed with the SEC and the other risks discussed in the company’s filings with the SEC. The forward-looking statements included in this presentation and discussion are only made as of today’s date, and management undertakes no obligation to publicly update them to reflect subsequent events or circumstances, except as may be required by law. Investors are cautioned not to rely unduly on forward-looking statements when evaluating the information in this presentation and discussion. This presentation contains non-GAAP financial information. Reconciliations of non-GAAP measures are included either in this presentation or our earnings release for the three-month period ending June 30, 2019, which is available on our website. Brand names shown in this presentation are registered trademarks of IDEX Corporation and/or its subsidiaries IDEX Proprietary & Confidential 3

IDEX Q2 Financial Performance (Dollars in millions, excl. EPS) Sales EPS* 7% increase Organic: 3% increase $1.40 $1.50 $634 $642 $1.50 $700 $1.00 $500 $0.50 $300 $0.00 Q2 Q2 2018 2019 2018 2019 Operating Margin* Free Cash Flow 90 bps increase 8% increase $118 24.5% $110 23.6% 26.0% $125 24.0% 22.0% $85 20.0% 18.0% $45 Q2 Q2 2018 2019 2018 2019 * Operating margin and EPS data adjusted for restructuring expenses ($2.1M in Q2 2019 and $2.0M in Q2 2018). Organic sales growth of 3 percent drove a 90 bps increase in operating margin Brand names shown in this presentation are registered trademarks of IDEX Corporation and/or its subsidiaries IDEX Proprietary & Confidential 4

Fluid & Metering Technologies (Dollars in millions) Orders Sales Operating Margin* Organic: Flat Organic: 3% increase 100 bps increase $243 $246 $246 $242 30.5% $300 29.5% $300 32.0% 30.0% $200 $200 28.0% $100 $100 26.0% $0 $0 24.0% Q2 Q2 Q2 2018 2019 2018 2019 2018 2019 Q2 Sales Mix: Organic 3% Q2 Highlights: ❑ Segment continued to expand through targeted growth initiatives despite choppiness in day rate business FX -2% ❑ Favorable OEM and project wins drove record sales in our Viking and Richter businesses Reported Sales 1% ❑ Municipal water remained steady and Oil & Gas market conditions stabilized ❑ Banjo contracted due to overall worsening agriculture industry dynamics * Operating margin data adjusted for restructuring expenses ($0.9M in Q2 2019 and $0.3M in Q2 2018). Organic sales growth of 3 percent drove a 100 bps increase in operating margin Brand names shown in this presentation are registered trademarks of IDEX Corporation and/or its subsidiaries IDEX Proprietary & Confidential 5

Health & Science Technologies (Dollars in millions) Orders Sales Operating Margin* Organic: Flat Organic: 3% increase 100 bps increase $222 $219 $227 $232 24.6% $250 $250 26.0% 23.6% $200 $200 24.0% $150 $150 22.0% $100 $100 20.0% Q2 Q2 Q2 2018 2019 2018 2019 2018 2019 Q2 Sales Mix: Organic 3% Q2 Highlights: ❑ Life Sciences continued to grow through targeted NPD efforts with key Acquisition 1% customers ❑ Gast wins in the Food and Beverage market resulting in double digit sales FX -2% expansion ❑ MPT built a strong backlog driven by growth in the Pharma market Reported Sales 2% ❑ Unfavorable market conditions in Semicon and Auto continue to put pressure on the Sealing Solutions platform • Operating margin data adjusted for restructuring expenses ($0.3M in Q2 2019 and $1.1M in Q2 2018). Organic sales growth of 3 percent drove a 100 bps increase in operating margin Brand names shown in this presentation are registered trademarks of IDEX Corporation and/or its subsidiaries IDEX Proprietary & Confidential 6

Fire & Safety / Diversified Products (Dollars in millions) Orders Sales Operating Margin* Organic: Flat Organic: 3% increase 100 bps decrease 28.1% $172 $164 $168 $164 27.1% $200 30.0% $200 $150 $150 25.0% $100 $100 20.0% $50 $50 Q2 Q2 Q2 2018 2019 2018 2019 2018 2019 Q2 Sales Mix: Organic 3% Q2 Highlights: ❑ OEM demand remained strong and continued to drive solid results in our FX -3% Fire business ❑ Rescue driven by strong tool demand and positive momentum around NPD ❑ Band-IT grew despite softness in auto market and it continued to win in Reported Sales 0% Aerospace and other niche verticals ❑ Tough comps against large project wins within Dispensing • Operating margin data adjusted for restructuring expenses ($0.8M in Q2 2019 and $0.3M in Q2 2018). Organic sales growth of 3 percent Brand names shown in this presentation are registered trademarks of IDEX Corporation and/or its subsidiaries IDEX Proprietary & Confidential 7

2019 Guidance Summary Q3 2019 – EPS estimate range: $1.45 – $1.47 – Organic revenue growth: ~3% – Operating margin: ~24.0% – Tax rate: ~22.5% – FX impact: ~1.0% topline headwind based on June 30, 2019 FX rates – Corporate costs: ~$20 million FY 2019 – EPS estimate range: $5.78 – $5.85 – Organic revenue growth: 3 – 4% – Operating margin: ~24.0% – FX impact: ~1.0% topline headwind based on June 30, 2019 FX rates – Other modeling items: • Tax rate: ~21.5% • Cap Ex: > $60M • Free cash flow will be approximately 105% of net income • Corporate costs: $78 – $80 million • EPS estimate excludes all future acquisitions and associated costs and any future restructuring expenses Brand names shown in this presentation are registered trademarks of IDEX Corporation and/or its subsidiaries IDEX Proprietary & Confidential 8