Idex (IEX) Q1 FY2026 earnings: revenue $887 million, up 8.9% on the year

Idex Corp. (IEX) reported revenue of $887 million for Q1 FY2026, the quarter ended 31 March 2026, up 8.9% on the same quarter a year earlier. Net income was $120 million, up 25.7% on the year, and diluted earnings per share $1.61. The figures are the company's own, from the 10-Q it filed with the SEC on 29 April 2026.

Revenue

$887 million

+8.9% on the year · -1.4% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

19.4%

17.4% a year earlier

Q2 FY2024Q1 FY2026

Net income

$120 million

+25.7% on the year · -6.5% on the quarter

Q2 FY2024Q1 FY2026

Diluted EPS

$1.61

+27.8% on the year · -5.8% on the quarter

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 raised, 2 new.

Sales rose 9%, organic 5%: Net sales of $886.9 million rose 9% reported and 5% organically. Management attributed growth to organic sales, favorable currency and acquisitions.
Diluted EPS up 28%: Reported diluted EPS of $1.61 rose 28%; adjusted diluted EPS of $2.00 rose 14%. Management said both rose on improved operational results.
HST sales up 17%, organic 11%: HST net sales were $398.4 million, up 17% reported and 11% organic. Higher volumes came from AI-driven data center power, semiconductor and space and defense demand.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	887	899	814	-1.4%	+8.9%
Cost of revenue	489	512	445	-4.5%	+9.7%
Gross profit	398	387	369	+2.8%	+7.9%
Gross margin	44.9%	43.1%	45.3%
Selling, general and administrative	218	201	209	+8.6%	+4.3%
Operating income	172	184	142	-6.1%	+21.4%
Operating margin	19.4%	20.4%	17.4%
Interest expense	16.0	16.2	16.1	-1.2%	-0.6%
Pre-tax income	157	168	124	-6.4%	+26.1%
Income tax	37.1	39.4	29.1	-5.8%	+27.5%
Effective tax rate	23.6%	23.5%	23.4%
Net income	120	128	95.5	-6.5%	+25.7%
Net margin	13.5%	14.3%	11.7%
Diluted EPS	$1.61	$1.71	$1.26	-5.8%	+27.8%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	104	210	106	-50.5%	-1.9%
Capital expenditure	17.7	19.7	14.3	-10.2%	+23.8%
Free cash flow	86.0	190	91.4	-54.7%	-5.9%
Free cash flow margin	9.7%	21.1%	11.2%
Cash from investing	-20.4	-17.6	-10.0
Cash from financing	-68.8	-208	-133
Depreciation and amortisation	53.7	53.5	49.9	+0.4%	+7.6%
Share-based compensation	15.8	3.6	13.6	+338.9%	+16.2%
Buybacks	76.3	72.8	50.0	+4.8%	+52.6%
Dividends paid	52.8	53.2	52.4	-0.8%	+0.8%
Diluted shares, weighted	74m	75m	76m	-0.5%	-1.8%
Shares outstanding at period end	74m	74m	76m	-0.4%	-2.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	4,050	4,028	3,907	+0.6%	+3.7%
Non-controlling interest	-1.4	-1.3	-0.7
Debt	1,881	1,830	1,950	+2.8%	-3.6%
Operating lease liabilities	n/a	94.1	n/a
Other liabilities	989	977	939	+1.3%	+5.4%
Total liabilities and equity	6,919	6,927	6,795	-0.1%	+1.8%
Fixed assets	462	468	460	-1.2%	+0.6%
Goodwill	3,390	3,414	3,287	-0.7%	+3.1%
Intangible assets	1,200	1,247	1,268	-3.8%	-5.4%
Cash and equivalents	586	580	594	+1.1%	-1.3%
Receivables	544	512	475	+6.4%	+14.6%
Inventory	501	479	466	+4.5%	+7.4%
Other assets	234	226	245	+3.7%	-4.3%
Total assets	6,919	6,927	6,795	-0.1%	+1.8%

Questions

What was Idex's revenue in Q1 FY2026?

Idex (IEX) reported revenue of $887 million for Q1 FY2026, the quarter ended 31 March 2026, up 8.9% on the same quarter a year earlier.

How much did Idex earn in Q1 FY2026?

Net income for Q1 FY2026 was $120 million, up 25.7% on the year, and diluted earnings per share $1.61.

When did Idex report Q1 FY2026 results?

Idex filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 29 April 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 * †	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	715	751	796	824	811	845	846	793	789	800	807	798	863	814	865	879	899	887	921	952
Cost of revenue	401	409	439	442	465	463	468	444	452	443	440	444	496	445	473	488	512	489	494	522
Gross profit	314	342	357	382	346	382	378	350	337	357	367	354	367	369	392	391	387	398	427	430
Gross margin	44%	46%	45%	46%	43%	45%	45%	44%	43%	45%	45%	44%	43%	45%	45%	44%	43%	45%	46%	45%
SG&A	151	154	168	162	169	190	174	166	174	195	183	183	198	209	204	205	201	218	224	218
Operating income	162	188	187	202	175	192	200	180	160	161	183	168	165	142	188	186	184	172	200	208
Operating margin	23%	25%	23%	25%	22%	23%	24%	23%	20%	20%	23%	21%	19%	17%	22%	21%	20%	19%	22%	22%
Interest expense	9.6	9.5	9.5	9.6	12.1	13.1	13.3	13.7	11.6	9.4	8.1	10.3	16.7	16.1	15.6	16.5	16.2	16.0	15.1	15.4
Pre-tax income	153	180	177	228	164	180	178	262	140	154	179	154	151	124	170	170	168	157	186	193
Tax rate	23%	22%	22%	22%	20%	22%	22%	20%	23%	21%	21%	23%	19%	23%	23%	25%	23%	24%	23%	25%
Net income	119	140	138	179	130	140	139	209	109	121	141	119	123	95.5	132	128	128	120	143	144
Net margin	17%	19%	17%	22%	16%	17%	16%	26%	14%	15%	18%	15%	14%	12%	15%	15%	14%	14%	16%	15%
Diluted EPS	$1.55	$1.83	$1.81	$2.36	$1.71	$1.84	$1.82	$2.75	$1.43	$1.60	$1.86	$1.57	$1.62	$1.26	$1.74	$1.70	$1.71	$1.61	$1.93	$1.95
Operating cash flow	163	79.7	112	198	167	148	141	227	201	157	134	205	173	106	162	204	210	104	200	240
Capital expenditure	27.2	16.1	15.6	16.3	20.0	26.6	21.6	20.1	21.6	20.0	15.9	13.7	15.5	14.3	14.8	14.8	19.7	17.7	23.0	25.2
Free cash flow	136	63.6	96.7	182	147	121	120	206	179	137	118	192	157	91.4	147	189	190	86.0	177	214
Buybacks	0.0	26.3	84.1	35.9	1.8	0.0	1.0	0.1	23.1	0.0	0.0	0.0	0.0	50.0	50.0	75.0	72.8	76.3	77.1	74.6
Dividends paid	40.8	41.4	45.5	45.3	45.2	45.5	48.4	48.4	48.4	48.5	52.2	52.3	52.3	52.4	53.5	53.5	53.2	52.8	53.9	54.0
Shares outstanding	76m	76m	75m	75m	76m	76m	76m	76m	76m	76m	76m	76m	76m	76m	75m	75m	74m	74m	74m	73m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 29 April 2026: the filing.