IEX · Earnings call · 2026Q3T · Full report

Order Backlog and Book-to-Bill

IDEX CORP /DE/ · 2026-10-28 · Importance 60 · Surprise 40

Third-quarter orders grew 13% organically to nearly $1 billion, with organic growth in all three segments; HST orders rose 21% and FMT orders 11%. Book-to-bill was above 1, and order activity remained strong in AI-influenced applications, municipal water, mining, space and defense, and commercial aerospace. HST’s advantaged markets—data centers, semiconductor, and space and defense—accounted for more than a third of the portfolio and grew about 50% year to date. Management said data-center orders arrive in large, unpredictable tranches, but backlog supports continued growth and builds visibility into 2027.

Key facts

• Q3 2026 orders grew 13% year over year and reached nearly $1 billion, with organic order growth in all three segments.
• Q3 2026 orders totaled nearly $1 billion, up 13% organically, with growth in all three segments; HST orders grew 21% and FMT orders grew 11%.
• HST Q3 2026 organic orders grew 21% to a third-quarter record $468 million.
• FMT Q3 2026 organic orders grew 11% to a third-quarter record $349 million.
• IDEX's Q3 2026 book-to-bill remained above 1 times.
• IDEX's Q3 2026 orders stepped down sequentially from Q2, primarily due to timing in data-center order activity, but remained significantly higher year over year.
• IDEX said it had more than enough data-center backlog to run out, while describing large data-center orders as unpredictable.