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IDEX Corporation’s 47% HST Order Surge: Can The Growth Last?

The full-year 2026 financial results for IDEX Corporation showed organic sales growth of 5% in the second quarter, surpassing previous guidance, with the Health & Science Technologies (HST) segment leading growth at 12% organically. Overall orders increased 28% organically, with HST orders particularly strong at 47%. The company highlighted sustained demand in areas such as data centers, semiconductors, and space and defense markets, which now constitute over one-third of HST revenue. These sectors reflect IDEX’s strategic portfolio pivot toward higher-growth, technology-driven markets. The Fluid & Metering Technologies (FMT) segment grew orders by 11% but recorded only 1% organic revenue growth, affected by softness in agricultural, chemical, and energy end markets. The Fire, Safety & Diversified Products (FSDP) segment experienced a 19% increase in orders but a slight decline in organic sales by 1%. Adjusted EBITDA margin expanded by 70 basis points year-over-year to 28.