IEX reported Q4 net sales of $899.1 million, up 4% year over year, driven by both organic growth and favorable foreign currency translation. Orders rose 20% to $979.2 million, reflecting strong demand in the Health & Science Technologies segment for data center power and semiconductor applications. Gross profit increased by $20.0 million to $387.1 million, lifting gross margin by 60 basis points to 43.1%. Diluted EPS on a GAAP basis was $1.71, up $0.09 from the prior year, with adjusted diluted EPS of $2.10 versus $2.04, benefiting from operational productivity improvements and price/cost optimization.

For the year ended December 31, 2025, IEX posted net sales of $3.4575 billion, an increase of 6% compared with 2024, including a 1% organic sales gain and contributions from the Mott acquisition. Gross margin expanded 30 basis points to 44.5%, while net income attributable to IEX was $483.2 million, down from $505.0 million a year earlier due to higher depreciation, restructuring costs and an elevated effective tax rate. Full-year diluted EPS was $6.41, compared with $6.64 in 2024; adjusted diluted EPS rose modestly to $7.95 from $7.89.

Operating cash flow for Q4 reached $209.5 million, a 21% increase over the prior year, as strong earnings and lower cash tax payments offset working capital timing effects. Free cash flow grew 21% to $189.8 million, representing a 121% conversion of net income. Segment results for the quarter showed Health & Science Technologies sales up 9% (organic +5%) with adjusted EBITDA margin expanding 60 basis points to 27.0%. Fluid & Metering Technologies delivered a 2% sales increase (organic +1%) with a 31.4% EBITDA margin, while Fire & Safety/Diversified Products sales declined 3% (organic -5%) but improved margin by 50 basis points to 28.6%.

IEX expects full-year 2026 organic sales growth of 1% to 2% over 2025 and targets adjusted diluted EPS in the range of $8.15 to $8.35. For Q1 2026, the company projects organic sales growth of approximately 1% and adjusted diluted EPS between $1.73 and $1.78. Management emphasizes disciplined capital allocation and continued execution of its platform-growth strategy to drive margin expansion and cash generation throughout the year.