IDEX Corporation (NYSE:IEX) Q3 2024 Earnings Conference Call October 30, 2024 10:30 AM ET
Company Participants
Wendy Palacios - Vice President, Investor Relations, FP&A
Eric Ashleman - Chief Executive Officer & President
Abhi Khandelwal - Senior Vice President & Chief Financial Officer
Conference Call Participants
Deane Dray - RBC Capital Markets
Nathan Jones - Stifel
Mike Halloran - Baird
Vlad Bystricky - Citigroup
Jeff Sprague - Vertical Research Partners
Andrew Buscaglia - BNP Paribas
Brett Linzey - Mizuho
Joe Giordano - TD Cowen
Rob Wertheimer - Melius Research
Operator
Greetings, and welcome to the Third Quarter 2024 IDEX Corporation Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce Wendy Palacios, Vice President of FP&A and Investor Relations. Thank you, Wendy. You may begin.
Wendy Palacios
Good morning, everyone. This is Wendy Palacios, Vice President of FP&A and Investor Relations for IDEX Corporation. Thank you for joining us for our discussion of the IDEX third quarter 2024 financial highlights.
Last night, we issued a press release outlining our company's financial and operating performance for the 3 months ending September 30, 2024. The press release, along with the presentation to be used during today's webcast, can be accessed on our investor website at investors.idexcorp.com.
Joining me today are Eric Ashleman, our Chief Executive Officer and President; and Abhi Khandelwal, our Senior Vice President, Chief Financial Officer. Following our prepared remarks, we will open the call up for your questions.
Turning to Slide 2. Please note that during today's call, we will present certain non-GAAP financial measures. We will also make forward-looking statements within the meaning of the federal securities laws, including statements regarding events or developments that we expect or anticipate will or may occur in the future. These forward-looking statements are subject to the risks and uncertainties. Actual results might differ materially from any forward-looking statements that we make today. We do not assume any obligation to update them. Information regarding these factors that may cause actual results to differ materially from these forward-looking statements is available on our website and in our SEC filings.
With that, I'll now turn this call over to our CEO and President, Eric Ashleman.
Eric Ashleman
Thanks, Wendy, and good morning, everyone. I'm on Slide 3. Our IDEX teams drove strong Q3 results in an uncertain environment. Here are the highlights. We delivered nice organic growth supported by excellent margins in our Fluid & Metering Technology and Fire Safety and Diversified Products segments. Our free cash flow across IDEX of $192 million was 33% of adjusted net income. Execution through operational excellence was really strong overall. We're pleased to see orders growth within our Health & Science Technologies segment, and our teams are digging into the Mott acquisition with focus energy as we align around our best long-term growth prospects across all of our recent HST acquisitions.