The industrial technology firm reported stronger-than-expected earnings and revenue, lifting its full-year organic sales growth forecast.
IDEX posted Q2 non-GAAP earnings per share of $2.32, exceeding estimates by $0.21, as revenue rose 6.4% year-over-year to $920.6M, beating expectations by $14.22M.
The results surpassed the prior consensus, with revenue growth accelerating from previous quarters. The company had previously guided for 3% to 4% organic sales growth for the full year.
IDEX now projects organic sales to increase 5% to 6% over the prior year, reflecting improved demand and operational performance.